Plain language law

New Zealand law explained for everyone

207B: Auditor must report to shareholders
or “Auditor writes a report for shareholders about company's financial statements”

You could also call this:

“Auditors must report to authorities if companies don't follow the rules”

If you’re an auditor and you find that a company hasn’t followed the rules in the Companies Act, you need to tell someone about it. You have to send a copy of your report and the company’s financial statements to two important groups. These groups are the Registrar and the External Reporting Board. You must do this within 7 working days after you sign your report. This helps make sure that companies are following the rules and that the right people know if they’re not.

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Next up: 207D: Application of registration provisions

or “Rules for applying registration requirements to large companies with significant overseas ownership”

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Companies Act 1993
Accounting records and financial reporting
Audit of financial statements
207C: Auditor's report must be sent to Registrar and External Reporting Board if requirements have not been complied with

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

207CAuditor's report must be sent to Registrar and External Reporting Board if requirements have not been complied with

If the auditor's report indicates that the requirements of this Act have not been complied with, the auditor must, within 7 working days after signing the report, send a copy of the report and a copy of the financial statements or group financial statements to which it relates to the Registrar and the External Reporting Board.

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