- Prospective reporting ― comprising of two forms:
1) Where permitted, assisting clients with the development or reporting on the preparation of financial information based on assumptions about events that may occur in the future and possible actions by an entity presented as part of a process to obtain financing.
2) Where clients offer investment products to the public, the five year historical financial summary included in the prospectus document is required by the Securities Act, 1978, to be reported on by the Auditor.
- Trustee reporting. In terms of the Securities Act, 1978, where clients have issued debt, equity or investment products to the public and have a trustee appointed for oversight of the investor’s interests, on an annual basis, auditors are required to report to the client’s Trustee on an annual basis.
- Utility industry regulatory reporting. Auditors of power and gas companies are required by legislation and the Commerce Commission to provide special purpose audit reports on certain financial and non-financial information.
- Financial institutions regulatory reporting. Auditors of banks and insurance companies are required to report on financial information, other than financial statements, submitted to the Reserve Bank of New Zealand and the Registrar of Insurance.
Other forms of attestation
Assisting clients where non-financial statement attesta- tion is appropriate and KPMG skills are required. An example of this is performing agreed upon procedures on investor statements of funds, solvency statements and vote scrutineering activities at stakeholder meetings, and reporting the results and findings from the client agreed procedures.