Financial Reporting Amendment Act 2014

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

Reprint as at 1 July 2015

Coat of Arms of New Zealand

Financial Reporting Amendment Act 2014

Public Act
2014 No 64
Date of assent
6 November 2014
see section 2

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Ministry of Business, Innovation, and Employment.


3Principal Act
4Section 5 amended (Interpretation)
5New section 9A inserted (Transitional, savings, and related provisions)
9ATransitional, savings, and related provisions
6Section 34 amended (Purpose and application)
7Section 36 amended (Qualifications of auditor)
8New sections 36A to 36T and cross-heading inserted
36APower of Registrar of Companies to approve associations and auditors
36BApproved associations and persons must report to Registrar
36CInstitute, accredited bodies, and approved associations may recognise body corporate as eligible to act as auditor
36DRegistrar of Companies may approve overseas countries and legal structures
36EInstitute, accredited bodies, and approved associations must keep recognition under review
36FBody corporate must ensure that engagement director is qualified auditor
36GRecognised body corporate must not act if requirements no longer met
36HOffence relating to section 36F or 36G
36ICancellation or suspension of recognition or approval
36JEffect of cancellation or suspension of accreditation or approval on recognition under section 36
36KRegistrar of Companies may authorise person to continue to act in respect of audit despite cancellation or suspension under section 36J
36LNotification of recognised and approved persons
36MRecords of recognised persons
36NRegister of approved persons
36OSearch of register
36PAppeals in respect of recognition or approval matters
36QFalse declarations and representations
36RExemption from membership requirement for certain members of religious societies or orders
36SInstitute or other accredited body may recognise as qualified statutory accountants certain members of religious societies or orders
36TRequirements for arrangement
9New sections 39A and 39B and cross-heading inserted
39AOffence for unqualified auditor to act
39BOffence to hold out as qualified auditor or as approved person
10Section 45 amended (Meaning of large)
11Section 48 amended (Minister must regularly review amounts to take into account inflation)
12Section 49 amended (Order may amend amounts)
13Section 50 amended (Regulations)
14Section 51 amended (Levies)
15New subpart 1A of Part 3 inserted
53AOffence to hold out as qualified statutory accountant
16New Schedule inserted
17Amendments to other Acts
Reprint notes

The Parliament of New Zealand enacts as follows: