Plain language law

New Zealand law explained for everyone

206: Application of audit requirement
or “When companies must have their financial statements 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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Next up: 207A: Audit must be carried out in accordance with auditing and assurance standards

or “Auditors must follow official standards when checking company finances”

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Companies Act 1993
Accounting records and financial reporting
Audit of financial statements
207: Financial statements must be audited

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

207Financial statements must be audited

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.
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