✨ Banking Regulation Schedule
Schedule 1—Full year and half year
Information in audit reports and review statements
Contents
| 1 | How this Schedule applies |
| 2 | Audit report required for full year disclosure statements but optional for half year disclosure statements |
| 3 | Audit review statement for half year disclosure statements |
1 How this Schedule applies
(1) An auditor’s report or review statement must address the financial statements and the information prepared in accordance with this Order except for the information required under Schedules 2 and 3.
(2) For a full year disclosure statement, an auditor’s report must meet the requirements of clause 2 as they apply to a full year disclosure statement.
(3) For a half year disclosure statement,—
(a) if the disclosure statement is audited by an auditor, the auditor’s report must meet the requirements of clause 2 as they apply to a half year disclosure statement; and
(b) if the disclosure statement is reviewed by an auditor, the auditor’s review statement must meet the requirements of clause 3.
2 Audit report required for full year disclosure statements but optional for half year disclosure statements
(1) Subject to subclause (2), the auditor’s report must in respect of a full year disclosure statement and may in respect of a half year disclosure statement state—
(a) the work done by the auditor;
(b) the scope and limitations of the audit;
(c) the existence of any relationship (other than that of auditor) which the auditor has with, or interest the auditor has in, the registered bank and any associated person of the registered bank;
(d) whether or not the auditor has obtained all the information and explanations that the auditor has required;
(e) whether or not, in the auditor’s opinion, as far as appears from an examination of them, proper accounting records have been kept by the branch and its banking group;
(f) whether or not, in the auditor’s opinion, the financial statements of the branch and its banking group comply with generally accepted accounting practice, and if they do not, the respects in which they fail to comply;
(g) whether or not, in the auditor’s opinion (where applicable), the information has been prepared in accordance with guidelines issued under section 78(3) of
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NZ Gazette 2011, No 87
✨ LLM interpretation of page content
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Registered Bank Disclosure Statements (Overseas Incorporated Registered Banks) Order (No 2) 2011
(continued from previous page)
💰 Finance & Revenue20 June 2011
Banking regulation, Disclosure statements, Reserve Bank of New Zealand, Overseas banks, Financial transparency, Audit reports, Risk management, Asset quality, Credit exposures