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Gambling Act 2003

Gambling - Licensing of class 4 gambling - Net proceeds and costs of class 4 gambling

108A: Audit must be carried out in accordance with auditing and assurance standards

You could also call this:

"Audits must follow standard rules to ensure accuracy and honesty."

When you do an audit on the information in an annual report under section 107, you must follow all the applicable auditing and assurance standards. You have to make sure your report on the annual report also meets the requirements of these standards. This rule does not apply to a corporate society that is a public entity under the Public Audit Act 2001.

When you are doing the audit, you must comply with the auditing and assurance standards that apply to you. The term "applicable auditing and assurance standard" means the same as in section 5 of the Financial Reporting Act 2013. You need to know what these standards are so you can follow them correctly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6043511.

Topics:
Money and consumer rights > GamblingBusiness > Industry rules
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108: Contents of annual report, or

"What's in a yearly report about class 4 gambling"

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108B: Clubs that operate gambling equipment at non-commercial class 4 venues must make financial statements available to members, or

"Clubs with gambling machines must show members how they spend money"

Part 2Gambling
Licensing of class 4 gambling: Net proceeds and costs of class 4 gambling

108AAudit must be carried out in accordance with auditing and assurance standards

  1. An auditor must, in carrying out an audit on the information contained in an annual report under section 107, comply with all applicable auditing and assurance standards.

  2. The auditor's report on the information contained in the annual report must comply with the requirements of all applicable auditing and assurance standards.

  3. This section does not apply to a corporate society that is a public entity under the Public Audit Act 2001.

  4. In this section, applicable auditing and assurance standard has the same meaning as in section 5 of the Financial Reporting Act 2013.

Notes
  • Section 108A: inserted, on , by section 90 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).