Audit qualifications mutually recognised in UK and NZ

FMA CEO Samantha Barrass said the agreement would supply an easier route for experienced UK auditors to work in NZ and help strengthen the local auditing industry. (Image: FMA)

Staff reporters

Thu, 28 Sep 2023

The Financial Markets Authority (FMA) has signed a first-of-its-kind memorandum of understanding on reciprocal arrangements with its British counterpart, enabling mutual recognition of audit qualifications.The memorandum signed with the United Kingdom’s Financial Reporting Council (FRC) will give a process for auditors who have gained professional audit qualifications in either the UK or New Zealand to apply for recognition of their qualifications and audit rights in the other nation.Where relevant, applicants will still have to comp...

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