FMA finds audit shortcomings but won’t name names

Sun, 25 Nov 2018

By Jenny Ruth Nov. 26 (BusinessDesk) - The Financial Markets Authority says it continues to find inconsistencies in audits of listed and other companies that sell financial products to the public. However, as usual, the FMA is keeping mum on which audit firms are transgressing, although it assures us its reviews are resulting in higher standards. At least one case of poor auditing has come to light in the last year or so, the EY audit of the New Zealand arm of Fuji Xerox. The new auditor, KPMG, reported accounting irregularities goi...

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