✨ Audit Requirements for Disclosure Statements
NEW ZEALAND GAZETTE, No. 87
24 JUNE 2011
(1) if the registered bank meets the condition in clause 21(1)(e) of Part 2, for the information relating to capital adequacy that is required to be disclosed under applicable clauses of Schedules 9 and 11—
(i) that the information has been examined by the auditor; and
(ii) whether or not anything has come to the auditor’s attention which would cause the auditor to believe that the information is not in all material respects prepared in accordance with the bank’s conditions of registration and with the bank’s applicable internal risk models as accredited by the Reserve Bank of New Zealand and disclosed in accordance with the applicable clauses of Schedules 9 and 11.
(2) For the purposes of paragraphs (e) to (h) of subclause (1), if the auditor’s report relates to a half year disclosure statement, the auditor’s opinion need only relate to the registered bank’s banking group.
(3) For the purposes of subclause (1)(i),—
(a) if the auditor’s report relates to a full year disclosure statement, the applicable schedules are Schedules 4, 7, 13, 14, 15 and 17; and
(b) if the auditor’s report relates to a half year disclosure statement, the applicable schedules are Schedules 5, 7, 13, 16 and 18.
3 Audit review statement for half year disclosure statements
If a half year disclosure statement is not audited and instead is reviewed by an auditor, the auditor’s review statement must—
(a) for financial statements prepared in accordance with clause 25 of Part 2, state—
(i) that the financial statements have been examined by the auditor; and
(ii) whether or not anything has come to the auditor’s attention which would cause the auditor to believe that the financial statements have not been prepared, in all material respects, in accordance with NZ IAS 34;(b) for the information that is required to be disclosed under Schedules 5, 7, 13, 16 and 18, state—
(i) that the information has been examined by the auditor; and
(ii) whether or not anything has come to the auditor’s attention which would cause the auditor to believe that the information does not fairly state the matters to which it relates in accordance with those schedules;(c) if the registered bank meets the condition in clause 21(1)(c) of Part 2, for the information relating to capital adequacy that is required to be disclosed under Schedule 9, state—
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NZ Gazette 2011, No 87
✨ LLM interpretation of page content
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Audit Requirements for Full Year and Half Year Disclosure Statements
(continued from previous page)
💰 Finance & RevenueAudit Reports, Financial Statements, Disclosure Statements, Registered Banks, Financial Reporting Act 1993
💰 Audit Review Statement for Half Year Disclosure Statements
💰 Finance & RevenueAudit Review, Financial Statements, Half Year Disclosure, NZ IAS 34, Registered Banks