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Limited Partnerships Act 2008

General - Financial reporting

75A: Financial statements must be audited

You could also call this:

"Big limited partnerships must have their money records checked by an expert."

Illustration for Limited Partnerships Act 2008

If you are a general partner of a large limited partnership, you must make sure the financial statements are audited by a qualified auditor, unless you have opted out under section 75G. You can also choose to comply with this rule under section 75F if your limited partnership is not large. To learn more about appointing an auditor and accessing information, you can look at sections 37 to 39 of the Financial Reporting Act 2013.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6043640.

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75: Financial statements must be prepared, or

"Partnerships must prepare and sign their financial reports within 5 months of their balance date."

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75B: Audit must be carried out in accordance with auditing and assurance standards, or

"Audits of limited partnerships must follow strict rules to ensure they are done correctly."

Part 2General
Financial reporting

75AFinancial statements must be audited

  1. The general partners of a large limited partnership, or of a limited partnership that has opted into compliance with this section under section 75F, must ensure that the financial statements of the limited partnership are audited by a qualified auditor.

  2. This section does not apply to a large limited partnership if the limited partnership opts out of this section under section 75G.

  3. See sections 37 to 39 of the Financial Reporting Act 2013 (which provide for the appointment of a partnership and access to information in relation to a limited partnership).

Notes
  • Section 75A: inserted, on , by section 107 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).