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Enhanced auditor reporting is a joint FMA and XRB report that looks at the evolution of trends in key audit matter reporting in the three years since the revised auditor’s report was introduced. Key audit matters are issues that, in the auditor’s view, were of most significance to the audit of a company’s financial statements – for example, a company’s valuation of goodwill or its revenue recognition. KAMs are intended to provide transparency and give users of the financial statements a better understanding of how the audit was conducted and complexities that arose. This is the 2020 report.

FMA warns Roger Gannon for breaching disclosure and care duties under the FA Act when advising KiwiSaver clients during the COVID-19 pandemic.

A letter to CEOs explaining regulatory relief available during COVID-19 and expectations of the FMA during the period

COVID 19: KiwiSaver significant financial hardship applications guide.

The Financial Markets Authority (FMA) has published this good practice guide to provide Managers of Managed Investment Schemes (MIS Managers) with details of good practices for liquidity management and stress testing. We encourage the adoption of these practices in a manner suited to each individual fund/s.

A person applying for a significant hardship withdrawal can complete a statutory declaration via an audiovisual link with an authorised witness (such as a lawyer). However, given the COVID-19 Alert Level 3 and 4 restrictions, the FMA considers supervisors can, at their discretion, accept applications that take alternative steps to verify an applicant’s identity and financial circumstances.

This document is the Disclose Register for MIS fund updates for 31 Mar 2020