XRB Annual Report 2019-20

XRB Annual Report 2019-20 cover

Our latest Annual Report highlighting our profile and achievements for the 2019-20 year.

Changing Your Reporting Tier


Changing your Reporting Tier cover 

This FAQ publication on Changing Your Reporting Tier will help Tier 3 and Tier 4 not-for-profit entities to understand the requirements for changing their reporting tier.

It explains:

  • When you are required to change reporting tiers;
  • When you can choose to change reporting tiers; and
  • How to change from Tier 4 to Tier 3 reporting requirements. 

Enhanced Auditor Reporting


Enhanced Auditor Reporting cover

A follow-up joint review by the FMA and the XRB of the trends and changes in KAMs reporting in the three years since the new standards were introduced. The review analyses KAMs reported in 2019 audit reports and was conducted prior to COVID-19.

Small Charities' Assurance Needs


 Small Charities Assurance Needs cover

This booklet sets out the findings from our recent research looking at what drives small charities to obtain assurance over their financial statements. 


We also wanted to find out if the needs of funders—philanthropic funding bodies and government agencies—were appropriately addressed by small charities' assurance engagements

A Guide for Prescribers of Assurance Engagements


A Guide for Prescribers 

Prescribers — regulators, government departments and others — often require entities to seek professional services. This is to establish a level of trust and confidence over specified information, such as financial reports.


This booklet provides you an overview of all the matters you need to take into account where either new or existing legislation or policy documentation you are preparing requires an assurance engagement. 

Are financial reports meeting user needs?


 Cover of Research Report "Are financial reports meeting user needs?"

This is the first comprehensive study into the needs of users of Tier 2 for-profit entity financial reports in New Zealand. The findings are consistent with our earlier similar research for Tier 1 for-profit entities operating in New Zealand domestic capital markets.


Both groups of users find financial statements useful and they trust them. However, both groups also want to see financial reports continue to evolve and improve, and where possible to be shorter and simpler.


The research is used to drive discussion and debate around Tier 2 accounting requirements in New Zealand.

Key Audit Matters


Key Audit Matters coverKey audit matters – A stock-take of the first year in New Zealand 

The XRB and FMA have published the results of their joint analysis of Key audit matters – A stock-take of the first year in New Zealand


As well as reviewing the auditor’s reports of 168 entities, the survey engaged directly with investors, preparers, directors and auditors.


The purpose of this publication is to provide insights into the experience to date to help improve New Zealand auditor reporting.Take-up of the new requirements for extended auditor’s reports has been positive.


A Guide for Funding Organisations


A Guide for Funders
A guide for funding organisations

Some not-for-profit (NFP) organisations are required by law to have their financial statements audited or reviewed, but not all. 


This booklet provides funding organisations with an overview of the different assurance options available to not-for-profits and how to choose the right one.


Assurance engagements give stakeholders’ confidence in the credibility of an organisation’s information. 

Alternative Performance Measures


Alternative Performance MeasuresAPM Survey Report

In view of the growing international and local trend for companies to disclose Alternative Performance Measures (APMs), this survey enables better understanding of how APMs are viewed by users of financial reports in New Zealand and whether they are effective in meeting user needs.


Our findings and indications of how APMs and related information can be improved will help us ensure corporate performance reporting remains appropriate, credible and meets user needs.