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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

36L: Notification of recognised and approved persons

You could also call this:

"Getting notices when you're approved or recognised as an auditor"

Illustration for Financial Reporting Act 2013

When you are recognised or approved as an auditor, you get a written notice. The Institute or an accredited body must give you this notice as soon as possible after they recognise you for the purposes of section 36(1). They must also give you a written notice if they cancel or suspend your recognition.

If you are approved as an auditor, the Registrar must give you a written notice as soon as possible after they approve you for the purposes of section 36(1)(c) or (d). The Registrar must also give you a written notice if they cancel or suspend your approval. You will get a notice if your approval or recognition is suspended, and this notice will say how long the suspension is or what you need to do for it to end.

You will know what is happening with your approval or recognition because you will get these written notices. The notices are an important way for you to stay informed about your status as an auditor. This helps you understand what you need to do to keep your approval or recognition.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6521299.

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36K: Registrar of Companies may authorise person to continue to act in respect of audit despite cancellation or suspension under section 36J, or

"Registrar can let auditor keep working on a job despite losing their licence"

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36M: Records of recognised persons, or

"Who is officially recognised by the Institute or other groups"

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

36LNotification of recognised and approved persons

  1. The Institute, any other accredited body, or an approved association must,—

  2. as soon as practicable after recognising a person (A) for the purposes of section 36(1), give A written notice of the recognition:
    1. as soon as practicable after cancelling or suspending such recognition, give A written notice of the cancellation or suspension.

      1. The Registrar must,—

      2. as soon as practicable after approving a person (B) for the purposes of section 36(1)(c) or (d), give B written notice of the approval:
        1. as soon as practicable after cancelling or suspending such approval, give B written notice of the cancellation or suspension.

          1. Every notice of suspension given under subsection (1)(b) or (2)(b) must specify the period of suspension or the requirements that must be satisfied before the suspension ends.

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