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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Reporting: annual report

247: Audit report

You could also call this:

"The Bank's financial statements are checked by the Auditor-General."

Illustration for Reserve Bank of New Zealand Act 2021

You need to know what the Reserve Bank of New Zealand does with its financial statements. The Bank sends its annual financial statements and other information to the Auditor-General. The Bank must send this information before the end of the second month after the financial year ends. The Bank also sends its annual report to the Auditor-General so they can review it. You can find more information about this in the Reserve Bank of New Zealand Act. The Auditor-General checks the Bank's statements and information. They then give the Bank an audit report within 30 days of getting the statements. The Auditor-General's job is to make sure the Bank's statements are correct. They do this by auditing the statements and information the Bank sends them. The Bank and the Auditor-General work together to make sure everything is done correctly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287295.

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246: Statement of responsibility, or

"People in charge of the Reserve Bank say they are responsible for honest financial reports."

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248: Application of this subpart to Bank group, or

"How this law applies to the Reserve Bank and its subsidiaries"

Part 5Financial and accountability matters
Reporting obligations: Reporting: annual report

247Audit report

  1. The Bank must forward to the Auditor-General the following statements and information:

  2. the Bank’s annual financial statements and statement of performance (if applicable):
    1. all other information that the Auditor-General has agreed, or is required, to audit.

      1. The statements and information must be forwarded under subsection (1) before the end of the second month following the end of the financial year to which the statements relate.

      2. The Bank must also forward to the Auditor-General the Bank’s annual report in a timely manner to enable the Auditor-General to review that report before providing the audit report required under subsection (4).

      3. The Auditor-General must—

      4. audit the statements and information referred to in subsection (1); and
        1. provide an audit report on those statements and that information to the Bank within 30 days after receiving them.

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