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Ann: GENERAL: FMA: FMA welcomed onto global forum for IFIAR

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    • Release Date: 22/12/14 11:10
    • Summary: GENERAL: FMA: FMA welcomed onto global forum for IFIAR
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    					FMA
    22/12/2014 11:10
    GENERAL
    NOT PRICE SENSITIVE
    REL: 1110 HRS Financial Markets Authority
    
    GENERAL: FMA: FMA welcomed onto global forum for IFIAR
    
    Media Release
    MR No. 2014 - 048
    22 December 2014
    
    FMA welcomed onto global forum for independent auditor oversight
    
    The Financial Markets Authority (FMA) has been accepted on to the
    International Forum of Independent Audit Regulators (IFIAR), in recognition
    of the robust oversight system the FMA has established in New Zealand.
    
    IFIAR was established in 2006 by independent audit regulators from 18
    jurisdictions. It has now grown to 51 members with the establishment of new
    independent audit regulators in different jurisdictions around the globe.
    
    The FMA joins 50 other countries on the International Forum, which aims to
    improve audit quality standards and regulation through international
    cooperation.
    
    "We're pleased to be accepted onto the International Forum as this recognises
    the standards and systems we've set up for the regulatory oversight of New
    Zealand's auditors" said FMA's Director of Compliance, Elaine Campbell.
    
    "Membership on the international forum allows us to ensure our oversight is
    aligned and consistent with other leading developed countries. We look
    forward to collaborating and sharing knowledge and best practice with
    independent audit regulators from around the globe," said Ms. Campbell.
    
    ENDS
    
    Contact:
    Shae Skellern
    09 300 0465
    021 847 192
    [email protected]
    
    Background:
    New Zealand auditors must be licensed by the Accredited Bodies (CPA Australia
    and New Zealand Institute of Chartered Accountants), these are the frontline
    regulators for the auditing profession. Under the Auditor Regulation Act
    2011, the FMA is required to oversee the work of the Accredited Bodies. The
    FMA is responsible for quality reviews of registered audit firms and is
    required to report annually on the quality of the reviews that have been
    carried out in that year.
    End CA:00259250 For:FMA    Type:GENERAL    Time:2014-12-22 11:10:22
    				
 
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