The New Zealand Financial Markets Authority published its Financial Statements Monitoring Insights 2022–2025 report, urging directors, preparers and auditors to maintain a strong focus on the quality, accuracy and timeliness of financial reporting amid heightened global uncertainty. The report consolidates findings from reviews of 60 sets of audited financial statements and assesses filing timeliness across all FMC-reporting entities over the past three years. Although overall reporting standards were described as high, the FMA highlighted recurring weaknesses including disclosures that do not adequately explain key judgements, assumptions and risks, and inconsistencies or gaps in how significant balances are measured and how complex estimates are supported. It also pointed to challenges in newer or more judgement-heavy standards and noted inconsistencies between financial statements and climate-related reporting that may undermine user confidence. Late filings declined over the period reviewed, but the FMA warned that delays can indicate governance issues and deprive investors of important information, and it summarised its enforcement responses ranging from feedback letters to infringement notices, licence cancellation and civil proceedings for significant or repeated non-compliance.
New Zealand Financial Markets Authority 2026-04-09
New Zealand Financial Markets Authority releases 2022–2025 monitoring insights and calls for better financial statement disclosures and timely reporting
The New Zealand Financial Markets Authority published its Financial Statements Monitoring Insights 2022–2025 report, urging directors, preparers and auditors to improve the quality, accuracy and timeliness of financial reporting amid global uncertainty. While overall standards were described as high, the authority identified recurring weaknesses in disclosures, measurement of significant balances, support for complex estimates, application of newer judgement-heavy standards, and consistency between financial statements and climate-related reporting, and outlined enforcement actions for serious or repeated non-compliance.