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COVID-19 impact on public sector reporting

Statutory time frame extensions and Covid-19 – implications for your audit

On Thursday 13 August 2020, we wrote to public sector entities about the recent extension to statutory deadlines for those with a 30 June balance date, the evolving Covid-19 situation, and what it means for their financial reporting.

ParliamentWebinar: The implications for financial reporting and audit in the public sector

Audit New Zealand Executive Director Steve Walker and Head of Accounting Robert Cox join an online panel hosted by Victoria University of Wellington and the External Reporting Board. They discuss the effects of Covid-19 and the economic recovery on financial reporting and audit in the public sector.

Audit New Zealand Bulletins

The state of emergency in response to the COVID-19 coronavirus has significantly impacted most public sector entities. The consequences for the completion of annual reports and the annual financial statements are one part of this impact.

At Audit New Zealand we have published the following Bulletins to provide high-level guidance to audit committees and those with responsibilities for the preparation of financial statements, performance information, or annual reports:

  • Bulletin 1: Guidance for preparers of financial statements on the implications of the COVID-19 emergency response, for revaluations of property, plant and equipment, and investment property.
  • Bulletin 2: Implications of COVID-19 emergency for service performance reporting – guidance for preparers of performance information.

Page last updated: 14 August 2020