Audit of service performance information

The NZAuASB seeks your feedback on exposure draft (ED) NZAuASB 2017 -2 New Zealand Auditing Standard XX The Audit of Service Performance Information.

Financial reporting standards require, or will soon require, some public benefit entities to report service performance information in their general purpose financial reports. 

As current auditing standards do not cover this type of information, the NZAuASB has been working to develop a new standard.  The project team has worked in conjunction with the NZASB’s development of financial reporting requirements for service performance information. 

As the NZASB gets closer to finalising its service performance reporting requirements for Tier 1 and Tier 2 public benefit entities, the NZAuASB is now seeking feedback on proposed requirements and guidance for the auditor that is engaged to audit the general purpose financial report, inclusive of service performance information.

The ED covers key areas where additional requirements and guidance relevant to the audit of service performance information have been identified, including:

  • Evaluating the suitability of the entity’s service performance criteria;
  • Materiality considerations;
  • Assertions to address;
  • Reporting considerations

The NZAuASB encourages you to read the Exposure Draft and provide your comments on the proposals.

How to comment

You can send your comments in an email or letter and these can be formal or informal.

Comments are due to the NZAuASB by 20 December 2017.

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