BUSINESSDESK: The Financial Markets Authority has accredited CPA Australia to license auditors who carry our audits in New Zealand in what is a challenge to dominance of the NZ Institute of Chartered Accountants.
The regulator's decision means CPA "will be responsible for supervising the auditors it licences and for following up any breaches of their obligations", the FMA says.
The NZICA is the only other body with accreditation. CPA has previously told BusinessDesk it wants to win a larger share of work in New Zealand, including luring accountants across from its rival, which dominates in terms of registrations as the national body of the industry here.
The accreditation "establishes an important regulatory relationship between the FMA and CPA Australia", FMA chief executive Sean Hughes says.
Under the Auditor Regulation Act 2011, auditors who carry out issuer audits must be licenced and audit firms must be registered.
CPA Australia is one of the world's largest accounting bodies, with a membership of more than 139,000 finance, accounting and business professionals across the globe, according to its website. It aims to be the world's best member service organisation, it says.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- NZX's Superlife swaps notes for 71% of Energy Mad
- The PM can say whatever he wants – NZ Super Fund chairwoman
- Dan Carter’s 'perfect' PR playbook
- OPINION: Initial observations on the Dotcom decision
- Sky TV-Vodafone merger: Competition lawyer rates odds of success for Spark's last-minute legal challenge
Most listened to
- Land Rover's severing of ties with Dan Carter is ‘a template for the way in which these things should be handled’
- NZ Super Fund chairwoman Catherine Savage shrugs off the PM's criticism of her board
- Rick Shera - 'I suspect Kim Dotcom and his lawyers will be visiting the Supreme Court more than once'
- Judith Collins on the findings in the IEA's latest five-yearly review of energy policies
- Comvita CEO Scott Coulter on how Chinese regulations have hit the company hard
- NBR’s Campbell Gibson reports on a farming couple’s case against ANZ for interest rate swaps