Audit and Assurance Services
This appropriation is limited to the performance of audit and related assurance services as required or authorised by statute. It provides for audit and related assurance services of smaller organisations, such as reserve boards, which are funded by the Crown, rather than by audit fees charged to these organisations.
This appropriation also provides for when costs exceed revenue under the Audit and Assurance Services RDA appropriation. Deficits reported through this appropriation are attributed to the Audit and Assurance Services memorandum account.
Financial performance for Audit and Assurance Services
| Actual 2022/23 $000 |
Actual 2021/22 $000 |
Main Estimates 2022/23 $000* |
Supplementary Estimates 2022/23 $000* |
Main Estimates 2023/24 $000* |
|
|---|---|---|---|---|---|
| Income | 150 | 150 | 150 | 150 | 150 |
| Expenditure | (5,422) | (5,078) | (11,626) | (13,527) | (13,833) |
| (Deficit)** | (5,272) | (4,928) | (11,476) | (13,377) | (13,683) |
* All Estimates information is unaudited. The figures under Main Estimates 2022/23 reflect the forecasts published in Budget 2022 and in the Office’s 2021/22 annual report, and the figures under Supplementary Estimates 2022/23 reflect the updated forecasts published in Budget 2023.
** Note 15 to the financial statements provides more information about the transfer of surpluses and deficits to and from the Office’s memorandum account.
The table below shows a combined view of the financial performance for the two appropriations.
Combined financial performance for Audit and Assurance Services RDA and Audit and Assurance Services
| Actual 2022/23 $000 |
Actual 2021/22 $000 |
Main Estimates 2022/23 $000* |
Supplementary Estimates 2022/23 $000* |
Main Estimates 2023/24 $000* |
|
|---|---|---|---|---|---|
| Income from Crown | 150 | 150 | 150 | 150 | 150 |
| Income from third parties | 110,928 | 93,468 | 93,900 | 109,155 | 118,026 |
| Total income | 111,078 | 93,618 | 94,050 | 109,305 | 118,176 |
| Expenditure | (116,350) | (98,546) | (105,526) | (122,682) | (131,859) |
| Surplus/(Deficit)** | (5,272) | (4,928) | (11,476) | (13,377) | (13,683) |
Note: The increase in actual expenditure between 2021/22 and 2022/23 is mainly due to an increase in personnel costs and travel in Audit New Zealand and additional spending by audit service providers.
* All Estimates information is unaudited. The figures under Main Estimates 2022/23 reflect the forecasts published in Budget 2022 and in the Office’s 2021/22 annual report, and the figures under Supplementary Estimates 2022/23 reflect the updated forecasts published in Budget 2023.
** Note 15 to the financial statements provides more information about the transfer of surpluses and deficits to and from the Office’s memorandum account.