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Public Audit Act 2001

Appointments and delegations - Appointment of auditors

32: Appointment of auditors for financial report audit

You could also call this:

"The Auditor-General chooses people to check financial reports to make sure they are correct."

Illustration for Public Audit Act 2001

The Auditor-General can appoint people or groups to check the financial reports of certain entities. You can be appointed if you are an employee of the Auditor-General, a person qualified to be an auditor under the Financial Reporting Act 2013, or a partnership with qualified auditors. The Auditor-General must make sure you meet certain standards before appointing you to check the financial reports of certain entities. You must be appointed in writing and the Auditor-General can add conditions to your appointment.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM88919.

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Part 5Appointments and delegations
Appointment of auditors

32Appointment of auditors for financial report audit

  1. The Auditor-General may from time to time appoint any of the following persons or bodies to act as an auditor and to carry out 1 or more audits of entities under section 15, or to provide a specific service under section 17, on the Auditor-General’s behalf:

  2. an employee of the Auditor-General:
    1. a person qualified to be an auditor of an entity under section 36(1) and (4) of the Financial Reporting Act 2013:
      1. a partnership, if all or some of the partners are persons who are qualified to be appointed as auditors of an entity under section 36(1) and (4) of the Financial Reporting Act 2013.

        1. The Auditor-General must, before appointing a person to act as the auditor of an FMC reporting entity under subsection (1)(a) or (b), be satisfied that the person—

        2. is a natural person who—
          1. meets the prescribed minimum standards for the issue of a licence prescribed under subpart 3 of Part 2 of the Auditor Regulation Act 2011; or
            1. has the competence, qualifications, and experience that are equivalent to, or as satisfactory as, those standards; or
            2. is a body corporate that is a registered audit firm (within the meaning of the Auditor Regulation Act 2011).

              1. The Auditor-General must, before appointing a partnership to act as the auditor of an FMC reporting entity under subsection (1)(c), be satisfied that the partnership—

              2. meets the prescribed minimum standards for the registration of an audit firm prescribed under subpart 3 of Part 2 of the Auditor Regulation Act 2011; or
                1. meets other requirements that are equivalent to, or as satisfactory as, those standards.

                  1. Subsections (1A) and (1B) apply only after the relevant minimum standards have been prescribed under subpart 3 of Part 2 of the Auditor Regulation Act 2011.

                  2. If a partnership is appointed under subsection (1)(c),—

                  3. the appointment of the partnership is to be treated as an appointment of all the persons who are partners in the firm from time to time; and
                    1. if the partnership includes persons who are not qualified to be appointed as auditors of an entity under section 36(1) and (4) of the Financial Reporting Act 2013, the persons who are not qualified to be appointed as auditors must not act as auditors.

                      1. An appointment must be in writing and may be made subject to any restrictions and conditions that the Auditor-General thinks fit.

                      Notes
                      • Section 32(1)(b): replaced, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
                      • Section 32(1)(c): replaced, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
                      • Section 32(1A): inserted, on , by section 82 of the Auditor Regulation Act 2011 (2011 No 21).
                      • Section 32(1A): amended, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
                      • Section 32(1A)(a): replaced, on , by section 17 of the Financial Reporting Amendment Act 2014 (2014 No 64).
                      • Section 32(1A)(b): replaced, on , by section 17 of the Financial Reporting Amendment Act 2014 (2014 No 64).
                      • Section 32(1B): inserted, on , by section 82 of the Auditor Regulation Act 2011 (2011 No 21).
                      • Section 32(1B): amended, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
                      • Section 32(1C): inserted, on , by section 82 of the Auditor Regulation Act 2011 (2011 No 21).
                      • Section 32(2)(b): replaced, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).