NZAuASB Update #9

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.


NZAuASB September Meeting


Board meeting figures round a tableThe upcoming NZAuASB meeting will be held on Wednesday 5 September in Auckland.

Matters to be discussed include:

  • The NZAuASB’s strategic action plan 2018/2023
  • Meeting with practitioners on audit matters
  • Matters to raise in the NZAuASB’s submission on ED ISA 315 Identifying and Assessing the Risks of Material Misstatement
  • Adoption of ISA 540 (Revised) Auditing Accounting Estimates and Related Disclosures
  • Project plan on assurance engagements for small not-for-profits
  • Interim review reporting

You can register to observe the meeting now and access the meeting papers on the XRB website from next week.

Register here

Let's talk reporting blog masthead

Today we've launched our new website blog—the latest chapter in XRB's communications strategy.  We aim to blog regularly about topical issues, future directions, with opinion pieces, insights and thinking about what's on our horizon.

Our first blog is a piece by XRB Chief Executive, Warren Allen, on the challenges for XRB for the next five years, which given the changing environment he says is bordering on being game-changing.

Have a look

The blog feature allows readers to comment. We invite you to share your thoughts and views  on the issues raised by Warren—let's make it a conversation!

just a friendly reminder image

Roundtable discussions on ED ISA 315


image of roundtable discussionHave you registered to attend our upcoming roundtable discussions? We will discuss the proposals to revise the auditing standard on Identifying and Assessing the Risk of Material Misstatement?

This is your opportunity to influence the development of the standard before it is finalised internationally.

Date Thursday 30 August 2018 Thursday 6 September 2018
Time 9:00AM – 11:00AM 9:00AM – 11:00AM
Venue XRB, Level 7, 50 Manners Street Heritage Hotel, 35 Hobson Street
  Register here Register here

photo of Fiona CampbellFiona Campbell, IAASB member and chair of the ISA 315 task force will be at the Auckland roundtable discussion, a fantastic opportunity to share your views on the proposals.

In preparation, you can watch a recording of our recent webinar hosted by Fiona and download the slides if you need to.

Watch a recording of the webinar on YouTube

Download the slides

'Have your say' image

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.



Comments Due

Limited scope review draft

New Zealand Auditing Standard 1 The Audit of Service Performance Information

1 Oct 2018


ISA 315 (Revised) Identifying and Assessing the Risk of Material Misstatement

8 Oct 2018 

NZAuASB ED 2018-1

Professional and Ethical Standard 1 International Code of Ethics for Assurance Practitioners, including International Independence Standards (New Zealand)

2 Nov 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.