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Financial Reporting Act 2013

Preliminary provisions

3: Purpose

You could also call this:

"This law says what the Financial Reporting Act 2013 is for and what it does."

Illustration for Financial Reporting Act 2013

The purpose of the Financial Reporting Act 2013 is to do several things. You will see it continues the External Reporting Board and defines what it can do. It also provides for the issue of financial reporting standards, climate standards, and auditing and assurance standards. The Act provides for auditor qualifications and other standard provisions relating to financial reporting duties under other laws. It provides for standard provisions relating to climate-related disclosure duties under the Financial Markets Conduct Act 2013.

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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=DLM4632835.

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2: Commencement, or

"When the Financial Reporting Act 2013 starts to apply"

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4: Overview of financial reporting and other duties, or

"What the law says about money reporting and other important jobs"

Part 1Preliminary provisions

3Purpose

  1. The purpose of this Act is to—

  2. continue the External Reporting Board and define its functions and powers; and
    1. provide for the issue of financial reporting standards, climate standards, and auditing and assurance standards; and
      1. provide for auditor qualifications and other standard provisions relating to financial reporting duties under other enactments; and
        1. provide for standard provisions relating to climate-related disclosure duties under the Financial Markets Conduct Act 2013.

          Notes
          • Section 3(b): amended, on , by section 33(1) of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).
          • Section 3(d): inserted, on , by section 33(2) of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).