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Financial Markets Conduct Act 2013

Climate-related disclosures for certain FMC reporting entities with higher level of public accountability - Assurance engagements

461ZH: Assurance engagement required for parts of climate statements relating to greenhouse gas emissions

You could also call this:

"Get your climate statements about greenhouse gas emissions checked by an independent person."

Illustration for Financial Markets Conduct Act 2013

If you are a climate reporting entity, you must make sure your climate statements are checked by someone else. This check is called an assurance engagement and it must happen for the parts of your climate statements that talk about greenhouse gas emissions. You can find out more about what you need to do in sections 461Z to 461ZC.

There are some people who cannot do the assurance engagement for you. These include your directors, officers, and employees, as well as people who work with them or are in charge of your assets.

If you are a public entity under the Public Audit Act 2001, only the Auditor-General or someone they choose can do the assurance engagement for you.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS775436.

Topics:
Business > Industry rulesEnvironment and resources > Climate and energy
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461ZHA: Assurance engagement must be carried out in accordance with auditing and assurance standards, or

"Follow the rules when checking something is true and fair."

Part 7AClimate-related disclosures for certain FMC reporting entities with higher level of public accountability
Assurance engagements

461ZHAssurance engagement required for parts of climate statements relating to greenhouse gas emissions

  1. Every climate reporting entity must ensure that the climate statements or group climate statements that are required to be prepared under any of sections 461Z to 461ZC are, to the extent that those statements are required to disclose greenhouse gas emissions, the subject of an assurance engagement.

  2. None of the following persons may carry out the assurance engagement:

  3. a director, an officer, or an employee of the climate reporting entity:
    1. a person who is in partnership with, or in the employment of, a person specified in paragraph (a):
      1. a liquidator or a person who is a receiver in respect of the property of the climate reporting entity:
        1. a person who, by virtue of paragraphs (a) to (c), may not carry out an assurance engagement under this Part for a related body corporate of the climate reporting entity.

          1. In the case of a climate reporting entity that is a public entity under the Public Audit Act 2001, the only person who may carry out the assurance engagement is the Auditor-General or any other person who may act as the CRD assurance practitioner under that Act in respect of the assurance engagement.

          Notes
          • Section 461ZH: replaced, on , by section 25 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).