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Financial Markets Conduct Act 2013

Financial reporting - Preparation, audit, and lodgement of financial statements - Audit of financial statements

461D: Financial statements must be audited

You could also call this:

"Big companies must get their money records checked by a special accountant."

Illustration for Financial Markets Conduct Act 2013

If you are an FMC reporting entity, you must make sure your financial statements are audited. You need to get a qualified FMC auditor to do the audit. This auditor will check your financial statements or group financial statements that you prepared under this subpart.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6027073.

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461C: Failure to comply with authoritative notice does not give rise to pecuniary penalty, or

"Not following some rules when making financial reports doesn't always mean you'll get a fine."

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461E: Meaning of qualified FMC auditor, or

"A qualified FMC auditor is a special kind of auditor who is allowed to check financial records, like a licensed auditor or the Auditor-General."

Part 7Financial reporting
Preparation, audit, and lodgement of financial statements: Audit of financial statements

461DFinancial statements must be audited

  1. Every FMC reporting entity must ensure that the financial statements or group financial statements that are required to be prepared under this subpart are audited by a qualified FMC auditor.

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Notes
  • Section 461D: inserted, on , by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
  • Section 461D: amended, on , by section 100 of the Regulatory Systems (Economic Development) Amendment Act 2025 (2025 No 11).