Auditing In The Context Of COVID-19 - Statement From The OAG

Published: Wed 25 Mar 2020 12:41 PM
We’re aware that the current circumstances leave public entities unsure how they might meet their accountability obligations. The Auditor-General’s audit service providers are responding to the evolving COVID-19 situation with the best interests of our communities in mind. People’s welfare is our primary concern.
There are a range of statutory deadlines that dictate the timing of audit work and reporting obligations, in normal circumstances. These are not normal circumstances. It’s already clear that it’s going to be difficult to carry out audits in the current circumstances, and many audits will be completed late. We don’t want to compromise the quality of public entities’ financial reports or our audits of the information they contain.
We are talking to relevant agencies, including the Treasury, about what these new circumstances mean for everyone and how they affect the usual accountability obligations of public entities.
Auditors are working out what the level 4 alert means for their ability to audit and how best to work remotely with public entities and their finance teams.
We encourage staff in public entities to continue to talk with their appointed auditor about what audit work, if any, can proceed without putting staff at risk or under undue pressure, or distracting them from the clear priority to address Covid-related issues. Again, the primary concern in these circumstances is people’s welfare.
This statement is available in full on our website.

Next in Business, Science, and Tech

Funding For R&D; In New Zealand – Expert Reaction
By: Science Media Centre
COVID-19: NZ Joins Global Initiative Keeping Ports Open And Freight Moving
By: Maritime New Zealand
National Backs Businesses With $10k JobStart
By: New Zealand National Party
Government Exempts Some Home Improvements From Costly Consents
By: New Zealand Government
The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards
By: New Zealand Media and Entertainment
ASB Takes The Lead Again With New Low Home Loan Interest Rate
By: ASB Bank
The Problems With Testing And Case Statistics For Covid-19
By: Nathan Hoturoa Gray
Fletcher Building to lay off 1000 staff in New Zealand
Driving prompt payments to small businesses
By: New Zealand Government
On Why We Should Legally Protect The Right To Work From Home
By: Gordon Campbell
Supporting Kiwi businesses to resolve rent disputes
By: New Zealand Government
Understanding 5G Concerns – Expert Q&A;
By: Science Media Centre
Record Monthly Surplus As Imports Dive
By: Statistics New Zealand
Bar reopening night 'much, much quieter'
New Zealand’s population passes 5 million
By: Statistics New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media