Auditor general to get $16m bailout and will increase fees

Auditor general to get $16m bailout and will increase fees
Auditor general John Ryan is facing up to massive financial pressures within the sector. (Image: Supplied)
Ian Llewellyn
The auditor general’s office is to receive $16 million in capital injections as it faces ongoing financial problems and an accumulated deficit of $22m due to covid disruptions and increased costs.It will also increase audit fees by 8% annually for the next few years.The Officers of Parliament Committee said the auditor general and Audit NZ's cumulative deficit is forecast to be $22.13m out to 2025-26.  To put this in perspective, the auditor general’s baseline budget for 2022-23 is $28.4m.Several core issuesThe parliamentar...

More Finance

No big NZ cuts amid 'Nuno-geddon': ANZ NZ
Finance

No big NZ cuts amid 'Nuno-geddon': ANZ NZ

ANZ Group chops thousands of staff, contractors, but no big cuts in NZ. 

Andy Macdonald 09 Sep 2025
Swapping mortgages for music: David Tripe eases into retirement
Finance

Swapping mortgages for music: David Tripe eases into retirement

Respected academic and finance-sector pundit calls time on his long career.

Andy Macdonald 09 Sep 2025
Community housing lender readies first social bonds
Finance

Community housing lender readies first social bonds

The Community Housing Funding Agency received an A+ credit rating this week.

Oliver Lewis 05 Sep 2025
Warner Bros production unit moves into red
Finance

Warner Bros production unit moves into red

The production company flags a tax issue related to the Sky TV–Discovery deal.

Victoria Young 03 Sep 2025