Our quality reviews help improve audit quality standards and ensure audit opinions are reliable. These reviews also help us to achieve our strategic goal of ensuring that investors have access to resources that help them make better-informed financial decisions.
This report summarises our findings from the quality reviews we carried out between 1 July 2018 and 30 June 2019.
In this year’s report, we highlight our expectations of directors and auditors of financial statements, and the key focus areas our stakeholders need to be aware of.
Following release of the FMA’s Audit Quality Monitoring Report, Jacco Moison highlights the FMA’s key findings in six focus areas as well as auditor independence and the level of non-assurance services being provided to audit clients. The FMA compare the audit quality monitoring findings with their survey of investors on perceptions of audit quality and reflect on the inquiries on audit underway on other jurisdictions.
How much influence can directors and audit committees have over the quality of the external audit?
Hear how directors can get the most out of their company’s audit from Jacco Moison at the NZ Financial Markets Authority, as he speaks with Claire Grayston from CPA Australia.