Financial Markets Conduct Act 2013

If you need more information about this Act, please contact the administering agency: Ministry of Business, Innovation, and Employment
461E Meaning of qualified auditor

(1)

For the purposes of this Act, qualified auditor means—

(a)

a licensed auditor; or

(b)

a registered audit firm; or

(c)

in the case of an FMC reporting entity that is a public entity under the Public Audit Act 2001, the Auditor-General or any other person who may act as the auditor under that Act.

(2)

In this section, licensed auditor and registered audit firm have the same meanings as in section 6(1) of the Auditor Regulation Act 2011.

(3)

The appointment of a registered audit firm that is a partnership by the firm name to be the qualified auditor for the purposes of this Act is deemed to be the appointment of all the partners in the firm, from time to time, who are licensed auditors.

(4)

None of the following persons is qualified for appointment as the qualified auditor of an FMC reporting entity:

(a)

the FMC reporting entity, or a director, an officer, or an employee of the FMC reporting entity:

(b)

a person who is a partner, or in the employment, of a person specified in paragraph (a):

(c)

a body corporate that is not a registered audit firm.

(5)

A person is not qualified for appointment as the qualified auditor of an FMC reporting entity if the person is, by virtue of subsection (4), disqualified for appointment as auditor of a related body corporate.

Compare: 1978 No 103 s 2C

Section 461E: inserted, on 1 April 2014, by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

Section 461E(3): amended, on 1 July 2015, by section 17 of the Financial Reporting Amendment Act 2014 (2014 No 64).

Section 461E(4)(c): amended, on 1 July 2015, by section 17 of the Financial Reporting Amendment Act 2014 (2014 No 64).