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The New Zealand Auditing and Assurance Standards Board (NZAuASB) held its most recent meeting on 17 April 2012 in Wellington.
The main matters considered were:
- the Australian Auditing and Assurance Standards Board 's (AUASB) feedback on the strategy for achieving greater convergence with international standards and harmonising with the assurance requirements in New Zealand and Australia;
- feedback received from constituents in New Zealand during the recent consultation on the quality of auditor reporting;
- an update on the joint project with the AUASB to develop an assurance engagement standard for Engagements to Report on Controls; and approval of:
- Exposure Draft Professional and Ethical Standards 1 (Revised);
- Exposure Draft Professional and Ethical Standard 3, Quality Control for firms that perform audits and reviews of Financial Statements, and Other Assurance Engagements; and
- Exposure Draft Professional and Ethical Standard 4, Quality Control for an Assurance Engagement other than an Audit of Financial Statements".
Click here to access the papers discussed at the meeting. |
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