Retirement Villages Act 2003

Registration, occupation right agreements, and related requirements and rules - Financial reporting

35E: Audit must be carried out in accordance with auditing and assurance standards

You could also call this:

"Audits must follow standard rules"

Illustration for Retirement Villages Act 2003

When you do an audit for the purposes of section 35D, you must follow all the applicable auditing and assurance standards. You have to make sure your audit complies with these standards. Your auditor's report must also meet the requirements of these standards.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6043947.

This page was last updated on 28 January 2026 — View changes

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Business > Industry rulesMoney and consumer rights > Consumer protection

35D: Financial statements must be audited, or

"Retirement villages must have their money records checked by an auditor."

35F: Non-application of section 35B if alternative financial reporting duties under financial markets legislation, or

"Some retirement village operators don't have to follow section 35B if they already report finances elsewhere"

Part 2Registration, occupation right agreements, and related requirements and rules
Financial reporting

35EAudit must be carried out in accordance with auditing and assurance standards

An auditor must, in carrying out an audit for the purposes of section 35D, comply with all applicable auditing and assurance standards.
The auditor's report must comply with the requirements of all applicable auditing and assurance standards.

Notes

Section 35E: inserted, on 1 April 2014, by section 115 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).