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Public Audit Act 2001

Audits and reports - Audits of public entities

15: Financial report audit

You could also call this:

"The Auditor-General checks if government departments and organisations are using public money correctly."

Illustration for Public Audit Act 2001

The Auditor-General checks the financial reports of public entities. You can think of public entities like government departments or organisations that use public money. The Auditor-General makes sure their financial statements and accounts are correct.

When the Auditor-General checks a government department or an Office of Parliament, they also look at how the department or office uses the money it is given. This is according to the Public Finance Act 1989.

The Auditor-General follows special standards when checking the financial reports of some public entities. If another law says a public entity must follow these standards, but the entity is not a certain type, then that law does not apply to the entity.

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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=DLM88596.

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14: Auditor of public entities, or

"Who checks the money of public organisations?"

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15A: Auditor-General may ask for quality review in respect of audits of FMC reporting entities, or

"The Auditor-General can check if audits of some companies are done correctly and to a good standard."

Part 3Audits and reports
Audits of public entities

15Financial report audit

  1. The Auditor-General must from time to time audit the financial statements, accounts, and other information that a public entity is required to have audited.

  2. In the case of an audit of a department (within the meaning of section 2(1) of the Public Finance Act 1989) or an Office of Parliament, the Auditor-General must also audit the appropriations administered by the department or Office.

  3. In the case of an audit of an FMC reporting entity carried out under this Act, the Auditor-General must (at a minimum) comply with the auditing and assurance standards that apply to the audit.

  4. If another enactment that would otherwise apply to a public entity (other than an FMC reporting entity) requires an audit of the public entity or the audit report (or both) to comply with auditing and assurance standards, that requirement does not apply in relation to the public entity.

Notes
  • Section 15(2): added, on , by section 37(1) of the Public Finance Amendment Act 2004 (2004 No 113).
  • Section 15(3): added, on , by section 12 of the Financial Reporting Amendment Act 2011 (2011 No 22).
  • Section 15(3): amended, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
  • Section 15(4): inserted, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).