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Overview of Crown Reporting Requirements

Audit of Crown Reporting Requirements

As the information supplied for the year end financial statements is subject to audit, the OAG assigns audit classes (Large, Medium or Small) to entities; this determines the timing of an entity's annual audit sign-off.

If an entity is assigned as Large or Medium, auditors must sign-off their annual CFISnet DataLoad before the OAG will sign-off the consolidated Financial Statements of the Government (FSG). Therefore Large and Medium entities must receive audit sign-off (referred to as the FSG 2 clearance) and fax it to Treasury before the due date.

If an entity is assigned as Small, the sign-off of their annual CFISnet DataLoad is not required by the OAG before the FSG is cleared. Therefore small entities arrange the timing of their audit clearance based on their own statutory reporting timetable. Small entities do not need to fax the FSG 3 clearance to Treasury.

Most departments are assigned as Large or Medium and accordingly must receive and fax their audit clearance on the due date. The only exceptions are the following departments and Offices of Parliament which are assigned as Small by the OAG and therefore do not require the FSG 3 clearance:

  • Departments
    • Crown Law Office;
    • DPMC;
    • Education Review Office;
    • Food Safety Authority;
    • Government Communications Security Bureau;
    • New Zealand Security Intelligence Service;
    • Office of the Clerk;
    • Pacific Island Affairs;
    • Parliamentary Counsel Office;
    • Serious Fraud Office;
    • Statistics New Zealand; and
    • Women’s Affairs;
  • Offices of Parliament
    • Audit;
    • Ombudsmen; and
    • Parliamentary Commissioner for the Environment.
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