Deposit Takers Act 2023

Depositor compensation scheme - Accountability

253: Auditor-General is auditor of fund

You could also call this:

"The Auditor-General checks the fund's money to ensure it's used correctly."

Illustration for Deposit Takers Act 2023

The Auditor-General is in charge of checking the fund's money. You can think of the fund like a public entity, which is a group that uses public money. The Auditor-General checks the fund's money according to the rules in the Public Audit Act 2001, specifically section 4 of that Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS505010.


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252: Statement of responsibility, or

"People in charge promise the financial statements are correct and truthful"


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254: Audit of financial statements, or

"Bank's money report must be checked by Auditor-General"

Part 6Depositor compensation scheme
Accountability

253Auditor-General is auditor of fund

  1. The fund is to be treated as if it were a public entity as defined in section 4 of the Public Audit Act 2001 and, in accordance with that Act, the Auditor-General is its auditor.