No. 2 - Auditing Whole of Government Financial Statements - The New Zealand Experience

This paper describes the role played by the Audit Office in the development of the Financial Statements of the Government of New Zealand. The paper explains the role of the Audit Office in New Zealand and analyzes that role in terms of fundamental audit characteristics such as independence, criteria (in particular, accounting practices to provide a true and fair view in the absence of relevant accounting standards) and evidence. The audit and management processes involved in auditing the Financial Statements of the government of New Zealand are described. The paper concludes with lessons for other countries.