NZAuASB Update #5

This NZAuASB Update provides you with an overview of the New Zealand Auditing and Assurance Standards Board’s recent activities, any new standards or FAQs, as well as other matters of interest.


AuditingProfessional & EthicalOther Assurance


IAASB seeks views on its future strategy

The International Auditing and Assurance Standards Board (IAASB) has released a Strategy Survey and needs to hear your views on emerging developments and trends that are likely to be important to its 2020-2023 strategy.

The IAASB’s strategy will have a direct impact on the NZAuASB’s standard-setting activities, given that New Zealand’s auditing and assurance standards are largely based on standards issued by the IAASB, 

If you have an interest in audit quality we encourage you to complete the survey.  Regulators, those charged with governance, practitioners, and investors this is your opportunity to influence future focus areas.

The survey will remain open until 24 July 2018.


Next NZAuASB meeting

6 June 2018, Wellington

The agenda for the upcoming meeting covers topics affecting both auditing and ethical requirements, including:

  • New Zealand changes to the International Code of Ethics as it applies to assurance practitioners (including Independence Standards)
  • The Audit of Service Performance Information
  • Audit Committee Guidance
  • Professional Scepticism
  • Non-Assurance Services

Did you know that NZAuASB meetings are open to the public?

You can access the public agenda, meeting papers and register to attend an NZAuASB meeting on the XRB website. 

Read more

We upload the meeting papers to the website a week before the meeting.

Have your say…

We are currently consulting on the following matters set out in the tables below. 

We welcome your comments and feedback, either formal or informal by the due dates specified.

IESBA EDs and Consultation Papers

ID

Title

Comments Due

IESBA Consultation Paper

Proposed Strategy and Work Plan, 2019-2023

16 Jun 2018

IESBA Consultation Paper 

Professional Scepticism – Meeting Public Expectations

9 Jul 2018 


This NZAuASB Update is intended to provide subscribers with a summary of the recent activities of the New Zealand Auditing and Assurance Standards Board (NZAuASB). Links to websites are correct at the time of publication. Subscribers should not rely on this newsletter as a definitive publication of updates. The External Reporting Board and its sub-Board the NZAuASB do not guarantee, and accept no legal liability whatsoever arising from or connected to, the accuracy, reliability, currency, timeliness or completeness of this newsletter. The information contained in this newsletter does not constitute advice and should not be relied upon as such.