Other Sectors


We conduct audits in Educational Sectors including:

  • Kindergarten Associations
  • Kohanga Reo
  • Private Training Organisations – TEC
  • Early childhood
  • Schools

There are specific reporting and auditing requirements for each sector.

Prospectus/Issuer, FMC Reporting Entities

We are registered under the Auditor Regulation Act 2011  which enables us to undertake issuer/FMC audits.

To make a securities offering to the public a Prospectus is required. This needs to be audited and registered with the Registrar of Companies under the Securities Act 1978. Once registered the offerror becomes an ‘Issuer/FMC Reporting entity’.

Silks Audit is the auditor of a number of issuers which includes auditing of and assisting with the preparation and registration of the initial prospectus plus the ongoing audit requirements thereafter. We have provided audit services to:

  • Audit of Forest Partnerships
  • Audit of Forest/Farming Companies
  • Audit of Limited Partnerships
  • Audit of Co-operatives

Gambling Operators

We conduct audits for holders of class 4 gambling licenses.

Anti-Money Laundering (AML)

The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 requires all reporting entities to have their risk assessment and AML/CFT programme audited every two years, or at any other time at the request of the relevant AML/CFT supervisor. The assurance engagement over the risk assessment and AML/CFT programme must be carried out by an “independent” and “appropriately qualified” person. Silks Audit have a specialised audit team who conduct these assurance engagements. We have clients throughout the Country. If you are requiring your AML/CFT audit please contact us.

Non – Public Funds

We conduct audits for the Defence force on the non-public funds.

Agricultural – Farms and Forests

We audit numerous enterprises that are involved in various forms of farming throughout New Zealand such as:

  • Forestry
  • Sheep & Beef
  • Dairy
  • Agriculture
  • Horticulture

We have assisted as auditors in preparation and registration of prospectuses for various rural-based investment opportunities.

Incorporated Societies

The Ministry of Business, Innovation and Employment (MBIE) has confirmed a new Incorporated Societies Act is expected to be released (the new Act), once the Incorporated Societies Bill is introduced to Parliament for final reading later this year.

All incorporated societies will be required to re-register under the new Act (there will not be an automatic transfer of current Incorporated Societies to the new Act) and there will be a 2½ year transition period into the new regime.

Some of the proposals under the new Act are summarised below:

Reporting requirements:

Incorporated Societies that are not registered as Charities under the Charities Act 2005 will be required to report using External Reporting Board (XRB) standards when they satisfy one or more of the following criteria:

  • Annual payments of $10,000 or more;
  • Assets of $30,000 or more; or
  • “Donee status” under the Income Tax Act 2007.

(Incorporated Societies that are registered Charities are already required to report using XRB standards.)

Audit requirements:

Incorporated Societies that are not registered as Charities under the Charities Act 2005 will be required to have a mandatory audit when they satisfy one of the following criteria:

  • Annual expenditure over $2 million; or
  • Assets over $4 million.

(Incorporated Societies that are registered Charities already have a mandatory audit when annual expenditure is over $1 million and a mandatory review when annual expenditure is over $500,000.)

As a result of the new Act, the Companies Office and MBIE will be undertaking an education campaign about the new Act, and will also be enhancing the Register of Incorporated Societies going forward.

For more detail on the upcoming changes, please refer to the MBIE website

Community Trusts

“Community Trust” is a trust established under Part 2 of the Trustee Banks Restructuring Act 1988.

This Act was to enable the “Community Trust” to hold shares in the capital of the resultant successor banking company.

The Act made provision for the continued operation of “Community Trusts”, the act also provides requirements for an audit.

156 Guyton Street, Whanganui

112 Vivian Street, New Plymouth

19 Tamamutu Street, Taupō

7 Grey Street, Palmerston North, 4410

1188 Whakaue Street, Rotorua, 3010

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