Notice is hereby given, pursuant to the Legislation Act 2019, that the New Zealand Auditing and Assurance Standards Board of the External Reporting Board has issued Amendments to Professional and Ethical Standards 1: Technology-related Revisions.

Amendments to Professional and Ethical Standard 1: Technology-related Revisions:

• applies to firms who perform engagements in accordance with XRB Standards;
• is published on 22 June 2023 and takes effect on the 28th day after the date of its publication under the Legislation Act 2019 and commences to apply as set out below; and
• is secondary legislation for the purposes of the Legislation Act 2019.

Commencement and application

The accounting periods for engagements undertaken by a firm in relation to which this standard commences to apply are, for those accounting periods following, and including, the first accounting period that begins on or after the mandatory date.

mandatory date means 15 December 2024.

Copies of the standard may be inspected free of charge at the offices of the External Reporting Board (XRB), Level 7, 50 Manners Street, Wellington. Copies are also available on the XRB’s website at www.xrb.govt.nz.

Dated this 22nd day of June 2023.

MARJE RUSS, Chair, New Zealand Auditing and Assurance Standards Board.