Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Moves To Address Auditor Shortage Will Maintain Trust In New Zealand Inc

Chartered Accountants Australia and New Zealand welcomes the Government’s decision to address the domestic auditor shortage, saying it comes not a moment too soon for maintaining trust in New Zealand’s capital markets, public institutions, and the broader economy.

“The decision to grant a border class exception for auditors is a big win for New Zealand Inc, as audit underpins the integrity of our public institutions, and our global reputation for transparency and sound business practices,” said CA ANZ NZ Country Head Peter Vial FCA.

“Every year thousands of New Zealand businesses and public organisations place a priority on completing their external audit both to meet their legislative and regulatory obligations and to deliver on stakeholder expectations.”

“Even with deadline extensions from Parliament and the FMA we’re seeing the effects of the auditor shortage throughout the economy, most recently with delayed local government annual reports.”

“We expect to see improved audit timeframes in 2022 now that firms can fill gaps in the domestic workforce, although they will still have to recruit from a competitive international market.

New Zealand has traditionally recruited skilled auditors from overseas especially during the peak reporting season, however COVID related border restrictions have cut this supply off.

In April a CA ANZ survey of audit providers revealed 206 vacancies across the 13 major audit providers, which by October had grown to over 260.

“We’re pleased that the Government and the officials recognise both the risks that this shortage poses, the benefits that auditors provide, and the need for this border exception,” said Mr Vial.

“In the long-term, this shortage highlights the need for CA ANZ, the audit profession and the government, to work closely together to secure a pipeline of audit talent sufficient to meet demand.”

“That starts with getting the accounting curriculum right at secondary school, through to our university pathways and then ensuring recruitment, domestic retention and remuneration settings are landing right for current and prospective auditors.”

“Addressing the critical shortage of auditors available domestically has been a key focus for CA ANZ this year. We are delighted with today’s announcement.”

“It’s clear from our Talking Talent and What We Heard discussion papers released this year that challenges in audit can only be addressed by a broad stakeholder group, and through a range of actions, and we will continue to lead this discussion.”

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Sending An Orion P-3 To Tonga

Because the undersea volcanic eruption in Tonga cut communications with the more remote parts of the country, it wasn’t at all surprising that as a good Pacific neighbour, New Zealand sent a reconnaissance aircraft up there to gather information about the extent and location of the damage. The more interesting thing was which plane we sent. It was an old P-3K Orion. It wasn’t one of the four fancy P-8 Poseidons that the New Zealand taxpayer spent north of $3 billion to purchase and to equip, only a few years ago...


Government: New Zealand Prepared To Send Support To Tonga

New Zealand is ready to assist Tonga in its recovery from Saturday night’s undersea eruption and tsunami, Foreign Affairs Minister Nanaia Mahuta and Defence Minister Peeni Henare said today... More>>

Ministry of Health: COVID-19 Immunisation Starts For 5 To 11-year-old Tāmariki

More than 120,000 doses of the child (paediatric) Pfizer vaccine have been delivered to over 500 vaccination sites around New Zealand as health providers prepare to start immunising 5 to 11-year-olds tamariki from today, 17 January... More>>

Crown: Duke Of York’s NZ Military Patronage Appointment Ends
Buckingham Palace has recently announced that, with the Queen's approval and agreement, the Duke of York’s military affiliations and Royal patronages have been returned to the Queen... More>>

CTU: Too Many Kiwi Workers Financially Vulnerable As Omicron Looms
With New Zealand on the precipice of an Omicron outbreak and the economic upheaval that comes with it, the CTU’s annual Mood of the Workforce Survey shows the vast majority of kiwi workers do not have the financial resources to survive a period of unemployment... More>>

Financial Advice NZ: Law Changes Locking Out Home Seekers, Urgent Meeting Sought With Government

Recent changes in consumer finance law on top of Government policy changes are locking many home seekers out of finance options they would have qualified for just six weeks ago, says Financial Advice New Zealand... More>>

Energy: Powering NZ’s Future With Biofuels
The Government will introduce a Sustainable Biofuels Mandate to help reduce greenhouse gas emissions in the transport sector, Energy and Resources Minister Megan Woods said today... More>>




InfoPages News Channels