Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Auditing In The Context Of COVID-19 - Statement From The OAG

We’re aware that the current circumstances leave public entities unsure how they might meet their accountability obligations. The Auditor-General’s audit service providers are responding to the evolving COVID-19 situation with the best interests of our communities in mind. People’s welfare is our primary concern.

There are a range of statutory deadlines that dictate the timing of audit work and reporting obligations, in normal circumstances. These are not normal circumstances. It’s already clear that it’s going to be difficult to carry out audits in the current circumstances, and many audits will be completed late. We don’t want to compromise the quality of public entities’ financial reports or our audits of the information they contain.

We are talking to relevant agencies, including the Treasury, about what these new circumstances mean for everyone and how they affect the usual accountability obligations of public entities.

Auditors are working out what the level 4 alert means for their ability to audit and how best to work remotely with public entities and their finance teams.

We encourage staff in public entities to continue to talk with their appointed auditor about what audit work, if any, can proceed without putting staff at risk or under undue pressure, or distracting them from the clear priority to address Covid-related issues. Again, the primary concern in these circumstances is people’s welfare.

This statement is available in full on our website.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>

ALSO:

Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>

ALSO:


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>

ALSO:

Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>

ALSO:

Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO: