NZAuASB Board
Role and Responsibilities
The New Zealand Auditing and Assurance Standards Board (NZAuASB) is a Committee of the XRB Board established under schedule 5 of the Crown Entities Act.
The NZAuASB has delegated authority from the XRB Board to develop or adopt and issue auditing and assurance standards (including professional and ethical standards for auditors). In doing so the NZAuASB must operate with the financial reporting strategy established by the XRB Board.
For more information about the role and responsibilities of the NZAuASB please go to the Operating Parameters page.
NZAuASB Outcome Goal
The NZAuASB’s strategic objective is:
To establish auditing and assurance standards which will encourage assurance providers to behave and provide assurance in a manner that engenders confidence in New Zealand financial reporting, assists entities to compete internationally, and enhances entities’ accountability to stakeholders.
The provision of high quality assurance that provides users with confidence about the fair presentation of the information presented in financial reports is vital to the achievement of the XRB’s outcome goal. The NZAuASB considers the suite of auditing and assurance standards, and how they are being applied, with this objective in mind. It issues such standards or guidance as it considers necessary from time to time to achieve its strategic objective.
Members of the NZAuASB
The NZAuASB comprises up to ten suitably qualified and experienced persons with a diversity of perspective. The members of the NZAuASB are appointed by the XRB and are all part-time. They are remunerated in accordance with rates determined by the Remuneration Authority.
The NZAuASB is chaired by Neil Cherry, an independent business consultant and previously Chief Financial Officer at Wellington City Council. Neil is also a member of the XRB Board.
For more information about the members of the NZAuASB please go to the NZAuASB Board Members page.