NZAuASB Meeting 14 August 2025

At the August meeting, the NZAuASB:

• approved revised ISA (NZ) 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements. The issue of this standard, together with a refresh of a number of ISAs (NZ) that will be amended as a result, is expected later in the year. 
• agreed the way forward to adopt international revisions in the auditing standards related to publicly traded entities. These amendments will be approved and gazetted together with the revised fraud and going concern standards later in the year.
• discussed the implications of technology on audit and explored the need for additional New Zealand guidance.  
• discussed plans to support adoption of the ISA (NZ) for less complex entities, assurance of greenhouse gas emissions disclosure and the reporting and assurance of service performance information.