Regulatory Alerts2022-05-17
Audit Obligations under the Reserve Bank of New Zealand Act 1989
The Reserve Bank of New Zealand issues this document to define the statutory audit obligations for registered banks under the Reserve Bank of New Zealand Act 1989. It mandates full external audits for annual disclosure statements and limited scope reviews for half-year statements, while also requiring auditors to disclose serious financial difficulties to the regulator. The guidelines specify the exact content of auditor reports, including opinions on financial statements, capital adequacy, and risk exposures, alongside protections for auditors acting in good faith.
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