FMA discusses key findings from their 2016 audit quality reviews

Following the release of the Financial Authority’s Audit Quality Monitoring Report for 2015-2016, Senior Advisor at the FMA, Jacco Moison, speaks to Claire Grayston at CPA Australia about the key findings from the audit quality reviews. Jacco explains what auditors can do to address the areas for improvement identified in the report and the part directors can play to support audit quality. Access FMA's 2016 Audit Quality Monitoring Report (PDF).

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Licensed auditors

If you are responsible for conducting Financial Markets Conduct Act 2013 (FMC) audits in New Zealand, you must hold a licence under the Auditor Regulation Act 2011 (New Zealand)(ARA). CPA Australia is an accredited body authorised to licence individuals under the ARA to conduct FMC audits. Discover more information on the licensed auditor regime and application process.

Qualified auditors

From 1 July 2015, as an accredited body, CPA Australia can recognise members who meet CPA Australia’s eligibility criteria as qualified auditors who can conduct certain statutory assurance engagements. Discover more information on the recognition of qualified auditors and the application process. 

Resources, submissions, commentary and media releases

Date  Title  Type
09/08/17  Auditor rotation: NZAuSB issues frequently asked questions  Resource
09/08/17 NZAuAVB 26 July meeting highlights Resource
NZAuASB 9 February 2017 meeting highlights  Resource
16/01/17 NZ AuASB issues explanatory guide on auditor reporting for Tier 3 Not-for-Profits
16/01/17 FMA reports on CPA Australia as an accredited body (pdf)
Highlights of NZAuASB meeting on 27 October 2016  Resource
17/10/16 Register for NZAuASB presentation: Implementation challenges of the new auditor's report
17/10/16 FMA release 2016 Annual Report
NZAuASB has issued revised auditing standards
27/09/16 Fraud Film Festival comes to Auckland
20/09/16 Auditing and assurance: Latest updates from NZAuASB Resource
07/09/16 Code of Ethics amended for responding to non-compliance with laws and regulations  Resource 
07/09/16 European Commission recognise FMA oversight of auditors
17/08/16 Guidance on the Audit or Review of the Performance Report of Tier 3 Not- For-Profit Public Benefit Entities 
17/08/16 Auditing and assurance: Latest updates from NZAuASB
29/06/16 External Reporting Board appointments announced
FMA approves class exemptions that recognise existing regulation of overseas issuers
22/06/16 FMA releases Auditor regulation and oversight plan for 2016-2019
22/06/16 Auditing and assurance: Latest updates from NZAuASB
27/04/16 Qualified audit reports must be sent to the XRB
27/04/16 Auditing and assurance: Latest updates from NZAuASB
13/04/16 New standard conditions for market service licences Resource
06/04/16 Who is required to be a qualified auditor?
23/03/16 Variations to standard conditions of market services licences  Resource
09/03/16 Auditing and assurance: Latest updates from NZAuASB
03/02/16 NZAuASB issue standard amending the definition of a Public Interest Entity
27/02/16 FMA proposed variations to standard conditions of market service licences (pdf)
27/01/16 Auditing and assurance: Latest updates from NZAuASB Resource
18/11/15 Paradigm shift in NZ auditor reporting Commentary