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Companies Act 1993

Accounting records and financial reporting - Financial reporting - Audit of financial statements

207: Financial statements must be audited

You could also call this:

“Companies need to have their financial statements checked by a qualified auditor”

If you are a company or an overseas company that this section applies to, you must make sure that your financial statements or group financial statements are checked by a qualified auditor. These are the financial statements that you have to prepare under section 201, 202, or 204.

There are special rules about who can be an auditor and how they can get information about your company. You can find these rules in 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=DLM321102.

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206: Application of audit requirement, or

“When companies must have their financial statements audited”

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207A: Audit must be carried out in accordance with auditing and assurance standards, or

“Auditors must follow official standards when checking company finances”

Part 11 Accounting records and financial reporting
Financial reporting: Audit of financial statements

207Financial statements must be audited

  1. Every company or overseas company to which this section applies (A) must ensure that the financial statements or group financial statements prepared in respect of A under section 201, 202, or 204 (if any) are audited by a qualified auditor.

  2. 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 company or an overseas company).

Notes
  • Section 207: replaced, on , by section 30 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).