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

Reserve Bank of NZ looks to widen usage of word 'bank'
Finance

Reserve Bank of NZ looks to widen usage of word 'bank'

RBNZ begins consultation on the word “bank” before new law comes into force.

KiwiRail targets earnings jump in ‘sluggish’ economy
Finance

KiwiRail targets earnings jump in ‘sluggish’ economy

Operating earnings improved in most segments, other than ferry services.

RBNZ might intervene over basic bank accounts
Finance

RBNZ might intervene over basic bank accounts

Intervention is possible if the basic bank account introduction is unsatisfactory.

Andy Macdonald 29 Sep 2025
Treasury boss reiterates warning of surging fiscal pressures
Finance

Treasury boss reiterates warning of surging fiscal pressures

Fiscal pressures in focus as ageing population drives retirement, health costs up.

Staff reporters 24 Sep 2025