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Deposit Takers Act 2023

Crisis management and resolution - Conduct of resolution - Auditors

344: Auditor’s rights

You could also call this:

"What auditors can do to check deposit takers are doing their job correctly"

Illustration for Deposit Takers Act 2023

An auditor can look at a licensed deposit taker's information at any time. The auditor can ask the deposit taker's directors and employees for information and explanations they need to do their job. You can find more information about this by looking at the link to the 1986 legislation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS536643.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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343: Auditor’s fees, or

"The Bank decides how much to pay the auditor who checks their work."

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"It's against the law to take property from a troubled bank without permission"

Part 7Crisis management and resolution
Conduct of resolution: Auditors

344Auditor’s rights

  1. An auditor has a right of access at all times to the information of the licensed deposit taker.

  2. The auditor is entitled to require from the licensed deposit taker’s directors and employees the information and explanations that the auditor thinks necessary for the performance of the auditor's duties.

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