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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

36M: Records of recognised persons

You could also call this:

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

Illustration for Financial Reporting Act 2013

The Institute, an accredited body, or an approved association must keep a record of all people they have recognised for certain purposes, including any cancellations or suspensions of this recognition. You can find this record on their Internet site at all reasonable times. The record must include information like the person's full name, the town or city where their business is located, and any conditions on their recognition.

The purpose of making this record available is so you can check if someone is recognised and get more information about their recognition. The record must be easy to find on the Internet site, and it must include certain details about each recognised person. If the Institute, accredited body, or approved association does not keep this record or make it available, they can be fined up to $50,000.

The record only needs to include information about a suspension if the Institute, accredited body, or approved association knows about it, and this is related to section 36I(6). The information in the record is related to the recognition of people for the purposes of section 36(1) and section 36, and in some cases section 36(1)(c)(ia).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6521601.

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

36MRecords of recognised persons

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

  2. keep a record of all persons that the Institute, accredited body, or approved association (as the case may be) has recognised for the purposes of section 36(1) and of all cancellations or suspensions of such recognition; and
    1. keep available a record of the persons recognised by it, at all reasonable times, on an Internet site maintained by or on behalf of the Institute, body, or association.

      1. The purpose of subsection (1)(b) is to enable any person to determine whether a person is recognised for the purposes of section 36 and, if so, to obtain relevant information relating to the recognition.

      2. For the purposes of subsection (1)(b),—

      3. the record must include the following information about each recognised person:
        1. the full name of the person:
          1. the town or city in which the person's principal place of business in New Zealand is located (unless subparagraph (iii) applies):
            1. in the case of recognition under section 36(1)(c)(ia), the town or city in which the person's principal place of business is located:
              1. the conditions or limitations on the recognition (if any); and
              2. the record must be reasonably prominent on the Internet site or the Internet site must contain a reasonably prominent link to the record.

                1. A record under subsection (1) is required to include information relating to a suspension under section 36I(6) only if the Institute, accredited body, or approved association is aware of the suspension.

                2. A person that fails to comply with subsection (1) or (3) commits an offence and is liable on conviction to a fine not exceeding $50,000.

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