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Financial Reporting Act 2013

External Reporting Board, standards, and provisions that apply to other enactments - Standard provisions relating to auditor qualifications and access to information - Auditor qualifications

36B: Approved associations and persons must report to Registrar

You could also call this:

"Approved groups and people must send reports to the Registrar on time"

Illustration for Financial Reporting Act 2013

If you are an approved association or person, you must send reports to the Registrar at certain times or when certain events happen. You must include the prescribed information in these reports and pay a fee. The Registrar needs this information to make sure you are meeting the requirements.

If you are an approved association and you realise you do not meet the requirements for approval under section 36A(1), you must tell the Registrar as soon as possible. You must also stop giving recognition to people who apply for it after you realise you do not meet the requirements.

If you are an approved person and you realise you do not meet the requirements for approval under section 36A(2), you must tell the Registrar as soon as possible. You must not act as an auditor for a company or its financial statements.

If you fail to follow these rules, your approval will be treated as suspended until the Registrar tells you otherwise or your approval is cancelled under section 36I.

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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=DLM6521283.

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36A: Power of Registrar of Companies to approve associations and auditors, or

"The Registrar of Companies can approve groups and auditors who meet the rules and pay a fee."

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36C: Institute, accredited bodies, and approved associations may recognise body corporate as eligible to act as auditor, or

"Some groups can approve a company to check finances if it meets certain rules."

Part 2External Reporting Board, standards, and provisions that apply to other enactments
Standard provisions relating to auditor qualifications and access to information: Auditor qualifications

36BApproved associations and persons must report to Registrar

  1. Every approved association and every person who is approved under section 36(1)(d) must, at the prescribed times or on the occurrence of the prescribed events and otherwise in the prescribed manner, send to the Registrar reports that contain the prescribed information (together with a prescribed fee).

  2. If an approved association (A) becomes aware that it does not comply, or no longer complies, with the requirements for approval under section 36A(1), A—

  3. must, as soon as practicable, give written notice of that non-compliance to the Registrar; and
    1. must cease to give recognition under section 36(1)(c)(ia) to any person who applies for or requests recognition after A becomes so aware.

      1. If a person who is approved under section 36(1)(d) (B) becomes aware that he or she does not comply, or no longer complies, with the requirements or minimum standards for approval under section 36A(2), B—

      2. must, as soon as practicable, give written notice of that non-compliance to the Registrar; and
        1. must not act as the auditor of a specified entity or of its financial statements.

          1. If an approved association or a person who is approved under section 36(1)(d) fails to comply with this section, the approval of that association or person is treated as suspended until—

          2. a date specified in a notice given by the Registrar to the association or person; or
            1. the approval is cancelled under section 36I.

              Notes
              • Section 36B: inserted, on , by section 8 of the Financial Reporting Amendment Act 2014 (2014 No 64).