BS4 Audit Obligations March 2007

Audit Obligations Financial Stability Department Document BS4 Issued: March 2007 Ref #2952271 2 TABLE OF CONTENTS Subject Paragraph __________________________________________________________________________ Introduction 1 Audit Requirements of the Disclosure Regime for Registered Banks 4 Disclosure Documents 5 Description of Audit Requirements 10 Audit of Full Year Disclosure Statements 15 Review of Half Year Disclosure Statements 17 Auditor’s Report on the Key Information Summary 19 Conditions of Registration 21 Other Obligations Under Part V of the Act 22 Appendix One - Audit Obligations Under Sections 96 to 98 of the Reserve Bank of New Zealand Act 1989 Ref #2952271 BS4 March 2007 AUDIT OBLIGATIONS UNDER PART V OF THE RESERVE BANK OF NEW ZEALAND ACT 1989 Introduction 1. Under the Reserve Bank of New Zealand Act 1989 (the “Act”), the Reserve Bank of New Zealand (the “Bank”) is empowered to register and supervise banks for the purposes of: (a) promoting the maintenance of a sound and efficient financial system; (b) avoiding significant damage to the financial system that could result from the failure of registered bank. 2. To assist in achieving these objectives, the Act permits the Bank to recommend the ...