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 betterinformed financial decisions.
14 September 2017
The Swiss Government has announced its recognition of the New Zealand audit oversight regime as equivalent to the Swiss standards, permitting NZ-regulated auditors to operate in Switzerland.
With this announcement, the Swiss Government has concluded that the New Zealand systems of public oversight, quality assurance, investigation and penalties for auditors and audit firms are equivalent of those in Switzerland. Recognition by Swiss Government follows the recognition of our audit oversight regime by the European Commission and FMA’s acceptance into the International Forum of Independent Audit Regulators (IFIAR).
It comes into effect from 1 October 2017.
The Independent Forum of Independent Audit Regulators (IFIAR) has issued the results of their annual inspections findings on the 6 largest global audit networks (Deloitte, KPMG, PWC, EY, BDO and Grant Thornton) earlier this month.
Auditors are subject to appropriate scrutiny and accountability. Read here about our monitoring of auditors and the disciplinary process we follow.
Auditors of an issuer need to hold a licence. Audit firms need to be registered.
Under the FMC Act 2013 there are financial reporting obligations for FMC reporting entities.
12 December 2017
Media advisory MR No. 2017 – 56 12 December 2017The Financial Markets Authority (FMA) has today published the accredited body reports for the New Zealand Institute of Chartered Accountants (NZICA) and CPA Australia.The reports contain the findings of our monitoring assessments for the period 1 July 2016 to 30 June 2017. The Auditor Regulation Act 2011 requires us to monitor and ensure the audit regulatory systems and processes used by accredited bodies...
5 May 2017
Media release MR No. 2017 – 158 May 2017 The FMA is working with ANZ to see if behavioural insights can prompt more ANZ KiwiSaver members to get retirement advice, or use retirement-planning tools when they hit 56 years old. The aim of this behavioural insights pilot is to examine if adjusting communications sent to ANZ KiwiSaver members aged 56, and users of their ‘lifetimes’ investment approach, results in more members checking they are on track...
20 February 2017
Media release MR No. 2017 – 05 20 February 2017 The Conduct Outcomes Report 2016 highlights the key issues and actions from the FMA’s enforcement, supervision and preventative activities for the financial year July 2015 to June 2016. Previously published as the Investigations and Enforcement Report, this report shows how the FMA has made use of the broad range of conduct regulation powers available under the Financial Markets Conduct Act 2013. Key ac...
28 February 2018
First published 14 November 2017 Final date for submissions 5pm, Friday 8 December 2017 Consultation document Consultation paper FMA Corporate Governance handbook Submission form Feedback form E-mail for submission firstname.lastname@example.org (please use the title of the consultation paper for the subject line) Resulting documents Corporate Governance Handbook 2018 Submissions report Update28 February 2018Our refreshed corporate g...