Auditors will need to pay the following levies, fees and charges. Fees and charges are prescribed in the Auditor Regulations 2012.
In addition New Zealand based auditors may need to pay fees or charges to their accredited body in accordance with the accredited body's rules.
Application fees
New Zealand auditors and audit firms
For New Zealand auditors and audit firms, a registration application fee of $350 will be payable to the Registrar of Companies. Accredited bodies may also charge application fees to cover their time and costs.
Overseas auditors and audit firms
The fees in New Zealand dollars are as follows:
- Application fee $115
- Registration fee (which is passed on to the Registrar) $350
You will also need to pay an assessment fee. The assessment fee is based on time spent on assessing your application at the rates prescribed by Regulations as follows:
- $230 per hour for members
- $166.62 per hour for staff
We will invoice you for your assessment fee. FMA may also recover
any costs of external advice or assistance obtained.
Ongoing costs
An annual confirmation fee of $110 will be required for each New Zealand or overseas licence or registration that is confirmed. This covers maintenance of the Auditors Register.
Quality review fee
Registered audit firms, and New Zealand based licensed auditors who are not a partner or employee of a registered audit firm, will be subject to a quality review at least once every four years.
Fees and charges for this review will be based on a prescribed rate for FMA members' and staff time as set out below, and on a cost recovery basis for certain other costs.
- $230 per hour for members
- $166.62 per hour for staff
Levies
From 1 August 2012, the Companies Office will collect levies to
fund the FMA. The levies will be included within most registration
fees, annual return fees and with the filing of a prospectus via
the Companies Office.
Full details on the levies, including the classes of persons who
must pay a levy and the amounts payable can be found in the
Financial Markets Authority (Levies) Regulations 2012 at: www.legislation.govt.nz
Most levies will be payable to the Registrar of Financial Service
Providers, via the Financial Service Providers Register. Some
levies will be payable to FMA (by classes of persons who are not
currently on the register). The following classes of persons will
be invoiced direct by FMA:
- Class 8 - Public issuers
- Class 10 - Registered exchanges
- Class 11 - Authorised futures exchanges
- Class 13 - Overseas auditors
These organisations and individuals will be contacted by the FMA,
after the regulations have come into effect on 1 August 2012.