Audit of Service Performance Information Consultation
In February 2019, the XRB issued NZ AS 1 The Audit of Service Performance Information (NZ AS 1). We subsequently deferred the mandatory application date of NZ AS 1 to 1 January 2023 to explore how the standard could be applied in the public sector.
We have worked with representatives from the Office of the Auditor-General and other practitioners to develop a standard that can easily be adopted and applied in both the public sector and in the not-for-profit sector.
Our exposure draft proposing to revise NZ AS 1 is the result of that review.
Proposed changes to the current standard NZ AS 1 include:
- Alignment with the financial reporting standards
- Sector-specific material
- Simplified language and use of examples
- No added compliance costs.
All submissions will be published on the XRB website unless confidentiality is requested. If you object to the release of any information in your submission, please identify the specific parts and the reasons under the Official Information Act 1982. We reserve the right not to publish defamatory submissions. Submissions are subject to the Official Information Act 1982 and the Privacy Act 2020. The XRB will handle personal information in accordance with these Acts.