Bridge the gap between your local and global reporting standards
Your New Zealand operation might not need a statutory audit locally, but if you're part of a multinational group, that's rarely the end of the story. Parent companies, group auditors, and regulators in other jurisdictions often require audited financial information for consolidation and global reporting—regardless of local thresholds.
These audits demand efficiency, technical expertise, and coordination with overseas teams working to tight deadlines. Without the right approach, you risk delays that hold up group reporting, inconsistencies that create consolidation headaches, or excessive costs that make your subsidiary look expensive to run.
We specialise in bridging the gap between New Zealand requirements and global reporting expectations, ensuring smooth coordination that keeps everyone happy—from your local finance team to group auditors in London, New York, or Sydney.
Part of a multinational group navigating complex reporting requirements? Let's discuss how we can make your audit process smoother.
Why getting this right matters
Most New Zealand subsidiaries of international groups occupy an interesting position: not large enough locally to trigger statutory audit requirements, but absolutely critical to group consolidation and reporting. Your parent company needs reliable, audited numbers that align with their global standards—frameworks that differ from standard New Zealand practice.
The challenge is that group reporting cycles don't slow down for anyone. When headquarters sets a consolidation deadline, they expect every subsidiary globally to deliver on time, with consistent quality, using agreed formats. Miss that deadline or deliver substandard work, and you create problems that ripple through the entire group reporting process.
The sweet spot is an audit approach that satisfies all stakeholders efficiently: meeting New Zealand statutory and tax requirements whilst delivering exactly what group auditors and parent companies need for consolidation, without unnecessary work or cost.
Struggling with coordination between local requirements and group expectations? We can help align everything efficiently.
When you need our expertise
New group auditors? When your parent company switches auditors, the new firm often has different expectations and requirements. We adapt quickly and keep everything running smoothly through the transition.
Growing fast? As your subsidiary approaches materiality thresholds that trigger enhanced group procedures, we help you anticipate what's coming rather than scrambling when requirements suddenly change.
Part of a listed group? Being part of a publicly traded group anywhere means higher compliance stakes. We understand the additional scrutiny and documentation that capital markets demand.
Regulatory changes flowing down? When new requirements like SOX controls or updated IFRS standards hit your parent company, we help you implement what's needed without overcomplicating your local audit.
Group restructuring? Mergers, acquisitions, or reorganisations create complex audit scenarios where standards and reporting lines converge. We've guided clients through these transitions whilst maintaining audit continuity and quality.
Certain situations make multinational subsidiary audit expertise particularly valuable. Understanding when specialist support matters helps you avoid problems before they start.
Want to know more about how AUPs could address your specific verification needs? We're happy to discuss what's possible.
What we do for you
Our audit services for multinational subsidiaries combine New Zealand expertise with global connectivity to deliver exactly what you need:
Local statutory financial statement audits: prepared under New Zealand accounting standards or IFRS, ensuring full compliance with local requirements whilst meeting group needs.
Group reporting audits: where we perform audit procedures on consolidation schedules and group reporting packs according to parent company instructions, delivering results in the formats they require.
Component auditor services: providing deliverables to group auditors in accordance with international standards, including reporting on significant risks, materiality considerations, and audit findings.
Framework conversions: supporting adjustments from NZ GAAP to IFRS, US GAAP, or other reporting frameworks required by parent entities, with audit procedures covering the conversion process.
Coordination with group teams: managing seamless communication with parent auditors, overseas finance functions, and group consolidation teams to ensure everyone stays aligned.
Timely delivery: aligning our audit work with strict global reporting timetables and year-end deadlines that often have no flexibility.
How this benefits your business
Global connectivity through UHY's international network spanning over 100 countries, enabling us to work directly with parent auditors and group finance teams who already know and trust the UHY brand.
Local expertise with in-depth knowledge of New Zealand GAAP, Companies Act requirements, and tax issues ensuring nothing falls through the cracks whilst meeting group needs.
Efficiency through streamlined audits designed to meet group instructions without unnecessary cost or disruption, focusing on what actually matters for consolidation.
Consistency providing assurance that our component audit meets international standards and satisfies group auditor requirements without creating additional work or queries.
Confidence delivering independent, high-quality reporting trusted by group auditors, overseas boards, and regulators who need reliable numbers from every jurisdiction.
Using our AUP expertise can save you money and ensure nothing falls through the cracks. Want to find out more? Call us for a chat.
What working with us looks like
Understanding your position within the group structure, the parent company's reporting requirements, and any specific instructions from group auditors. We'll review previous audit approaches and identify opportunities for improvement.
Coordinating directly with group auditors early in the process, confirming procedures, materiality levels, and deliverable requirements. This upfront alignment prevents surprises later and ensures everyone works from the same playbook.
Focusing on efficiency—we perform the work that adds value for group consolidation and meets local statutory requirements without unnecessary procedures that don't serve either purpose. Throughout the audit, we maintain regular communication with your finance team, group auditors, and parent company as appropriate.
We meet both local filing requirements and group reporting needs. You'll receive New Zealand statutory audit reports, group reporting pack sign-offs, component auditor communications, and any other documentation your group auditors require—all coordinated and delivered on time.
The timeline typically aligns with your group's global reporting calendar, which we build into our planning from the start. We know that subsidiary audit deadlines are often non-negotiable, so we structure our work to deliver when you need it, not when it's convenient for us.
Ready to streamline your multinational subsidiary audit and eliminate the coordination headaches? Contact UHY Haines Norton to discuss how we can support your next audit cycle.
For New Zealand subsidiaries of global groups, the audit is more than a compliance task—it's about ensuring smooth global consolidation, efficient communication, and supporting your group's reputation through high-quality, reliable reporting.
Call us and connect to possibility.
