Accounting and auditing matters
Presentation: TEI sector 2009 audit debriefing.
Fraud policy and risk assessment
- Accounting for suspensory loans – affected only a couple or so of TEIs this year, unlike in 2008 audit round
- Considered the going concern status of a couple of TEIs
- Complex business transactions especially with TEIs that have commercialisation activities – recommend TEIs get their own accounting advice early on treatment and sound out the auditors
- Recognition of provisions – some recognition and disclosure rules, see NZ IAS 37
- Multi-parent entity (where all parents are TEIs) must prepare an SOI and an audited SSP – note that wholly owned subsidiaries are not required to do so
