History of Approvals

Recently Issued Standards

On this page, we provide a full list of recently issued auditing and assurance standards or amending standards issued by the XRB in the order of issue date.

Application dates are fully set out in the relevant standard or amending standard.

Standards will be added here, when approved by NZAuASB, in 2024

Issued Standard/Amending standard Application date
July 2023 NZ AS 1 (Revised) The Audit of Service Performance Information Periods beginning on or after 1 January 2024
Issued Standard/Amending standard Application date
May 2023 Amendments to Auditing and Review Engagement Standards as a Result of the Revisions to Financial Reporting Standards Periods beginning on or after 1 January 2023
August 2023 NZ SAE 1 Assurance Engagements over Greenhouse Gas Emissions Disclosures Periods ending on or after 27 Oct 2024
Issued Standard/Amending standard Application date
June 2023 Amendments to PES 1 - Revisions to the definition of Engagement Team and Group Audits Periods beginning on or after 15 December 2023
June 2023 Amendments to PES 1 - Technology-related Revisions Periods beginning on or after 15 December 2024
Issued Standard/Amending standard Application date
Nov 2023 Narrow scope amendments to ISAs (NZ) due to Public Interest Entity Revisions Periods beginning on or after 15 December 2024
Issued Standard/Amending standard Application date
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Jun 2022 2022 Amendment to NZ AS 1 The Audit of Service Performance Information Defers NZAS1 to periods beginning on or after 1 Jan 2023 Amending standard
Jun 2022 ISA (NZ) 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) and Related Conforming and Consequential Amendments Periods beginning on or after 15 Dec 2023

ISA (NZ) 600 (Revised)

Amending standard


 

Issued Standard/Amending standard Application date
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May 2022 Conforming and Consequential Amendments to Other Standards as a Result of the New and Revised Quality Management Standards (a) Reviews of financial statements for periods beginning on or after 15 Dec 2022; and
(b) Other assurance and related services engagements beginning on or after 15 Dec 2022
Amending standard
May 2022 Annual Improvements and Conforming and Consequential Amendments to Domestic Assurance Standards (a) Assurance engagements beginning on or after 15 Dec 2022; and 
(b) Reviews of financial statements for periods beginning on or after 15 Dec 2022.
Amending standard
Dec 2022 SAE 3450 Assurance Over Financial Information Prepared in Connection with a Capital Raising Assurance engagements beginning on or after 15 Dec 2023 SAE 3450

 

Issued Standard/Amending standard Application date
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Mar 2022 PES 1 - NZ Fees Amendment 15 Dec 2022 Amending standard
Jun 2022 PES 1 - Revisions to the Non-Assurance Services Provisions of the Code 15 Dec 2022 Amending standard
Aug 2022 PES 1 - Quality Management-related Conforming and other contextual amendments 15 Dec 2022 Amending standard
Nov 2022 PES 1 - Revisions to the Definition of Public Interest Entity Periods beginning on or after 15 Dec 2024 Amending standard

 

Issued Standard/Amending standard Application date
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Jul 2021 ISA (NZ) 220 (Revised) Quality Management for an Audit of Financial Statements Periods ending on or after 15 Dec 2022 ISA (NZ) 220 (Revised)
Jul 2021 Conforming Amendments to ISAs (NZ) and Other Pronouncements 15 Dec 2022 Conforming Amendments arising from Quality Management Project
Dec 2021 2021 Amendment to NZ AS 1 The Audit of Service Performance Information Defers NZAS1 to periods beginning on or after 1 Jan 2022 2021 Amendment to NZ AS 1
Jun 2020 Review of Financial Statements Performed by the Independent Auditor of the Entity Dec 2020 NZ SRE 2410 (Revised)
Jun 2020 Conforming Amendments to Auditing and Assurance Standards as a result of Professional and Ethical Standard 1 (PES 1) Jul 2020 Conforming Amendments
Apr 2020 Identifying and Assessing the Risks of Material Misstatement and related Conforming and Consequential Amendments  Dec 2021 ISA (NZ) 315 (Revised 2019)
Feb 2020 Amendments to ISA (NZ) 560 Subsequent Events Jun 2021 ISA (NZ) 560
Feb 2019 NZ AS 1 The Audit of Service Performance Information Jan 2021 NZ AS 1
Nov 2018 ISA (NZ) 540 (Revised) Dec 2019  ISA (NZ) 540 
(Revised)
Nov 2016 Annual Improvements (includes changes to ISAs (NZ), NZ SRE and PESs Dec 2016 Annual Improvements
Nov 2016 ISA (NZ) 250 (Revised) Consideration of Laws and Regulations in an Audit of Financial Statements Dec 2017  ISA (NZ) 250 (Revised) 
Sep 2016 ISA (NZ) 810 (Revised) Engagements to Report on Summary Financial Statements   Dec 2016    ISA (NZ) 810 (Revised)
Sep 2016 ISA (NZ) 805 (Revised) Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement  Dec 2016 ISA (NZ) 805 (Revised)
Sep 2016 ISA (NZ) 800 (Revised) Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks  Dec 2016 ISA (NZ) 800 (Revised)

 

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 Mar 2017 SAE 3100 (Revised) Assurance Engagements on Compliance  Jan 2018  SAE 3100 (Revised)

 

Issued Standard/Amending standard Application date
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Feb 2021 ISRS (NZ) 4400: Agreed-upon Procedures Engagements Terms of engagement agreed on or after 1 Jan 2022 ISRS (NZ) 4400

 

Issued Standard/Amending standard Application date
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Mar 2021 PES 1: Role and Mindset Changes 31 Dec 2021 PES 1
Apr 2021 Annual Improvements 2020 15 Jun 2021 Amending standard
Jul 2021 PES 3: Quality Management for Firms that perform Audits or reviews of financial statements, or other assurance or related services engagements 15 Dec 2022 PES 3
Jul 2021 PES 4: Engagement Quality Reviews 15 Dec 2022 PES 4
Jul 2021 PES 1: Objectivity Amendments
  • For Part 4A: for audits or reviews of financial statements for periods beginning on 15 December 2022.
  • For Part 4B: assurance engagements beginning on or after 15 December 2022.
  • For all other engagements within the scope of Part 3: engagements beginning on or after 15 December 2022.
PES 1: Objectivity Amendments
Oct 2020 PES 1: Part 2 Dec 2020 PES 1
Feb 2020 Amending Standard Part 4B  Jun 2021 PES 1
Dec 2018 PES 1 Code of Ethics for Assurance Practitioners Jun 2019 PES 1
Feb 2018 Long Association and Public Interest Entity Amendments to PES 1 (Revised) Dec 2018  PES 1 (Revised)
Aug 2016 Amendments to PES 1 (Revised) Non-compliance with Laws and Regulations Jul 2017   PES 1 (Revised)

 


 

Standards Issued but Not Yet Applicable

We have also prepared a table to help you identify new or amending standards that are issued but not yet applicable. This is presented in the order of the latest application date. Application dates are fully set out in the relevant standard or amending standard. 

Application date

 Issued 

Standard/Amending standard 

Engagements ending on or after 27 Oct 2024 Aug 2023

NZ SAE 1 Assurance Engagements over Greenhouse Gas Emissions Disclosures

Periods beginning on or after 15 Dec 2024 Nov 2022 Amendments to PES 1 - Revisions to the Definition of Public Interest Entity
Periods beginning on or after 15 Dec 2024 June 2023 Amendments to PES 1 - Technology-related Revisions
Periods beginning on or after 15 Dec 2024 Nov 2023 Narrow scope amendments to ISAs (NZ) due to Public Interest Entity Revisions