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Information on this site is drawn from publicly available disclosures and is presented for transparency of governance and institutional accountability. Figures relate to roles held within organisations and do not represent personal financial profiling.

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Insights/Audit Quality

Audit Quality & Red Flags

Track audit opinions, going concern warnings, auditor changes, and independence risks across NZX-listed companies. Based on independent auditor reports extracted from annual reports.

Companies Covered
74
Going Concern Flags
26
all years
Modified Opinions
5
all years
Emphasis of Matter
6
all years

NZX Auditor Market Share

PwC
25
34% market share
EY
13
18% market share
Deloitte
8
11% market share
KPMG
7
9% market share
Baker Tilly Staples Rodway
5
7% market share

Going Concern Warnings

Companies where the auditor has flagged material uncertainty about the entity's ability to continue as a going concern.

AFCAFC Group Holdings LimitedWilliam Buck
FY2025
SMISantana Minerals LtdKPMG
FY2025
ENSEnprise Group LimitedUHY Haines Norton
FY2025
MPGMetro Performance GlassPwC
FY2025
IPRIperion LimitedBDO
FY2025

Modified Audit Opinions

Instances where the auditor issued a qualified, adverse, or disclaimer of opinion rather than a standard unmodified opinion.

AFCAFC Group Holdings Limiteddisclaimer
FY2025
NTLNew Talisman Gold Mines LtddisclaimerInability to obtain sufficient appropriate audit evidence regarding the recoverable amount of the Talisman Mine cash-generating unit
FY2025
ENSEnprise Group Limiteddisclaimer
FY2023
ENSEnprise Group Limiteddisclaimer
FY2022
ENSEnprise Group Limitedqualified

Auditor Independence Concerns

Companies where non-audit fees exceed audit fees, which may indicate potential independence concerns under IESBA standards.

WINWinton Land LimitedKPMG
2.9x$713k vs $250k auditFY2022
LICLivestock Improvement Corporation LimitedKPMG
1.5x$287k vs $196k auditFY2022
APLAsset PlusGrant Thornton
1.4x$79k vs $55k auditFY2017
LICLivestock Improvement Corporation LimitedKPMG

Most Common Key Audit Matters

revenue recognition (19)impairment testing of goodwill (9)valuation of the bull team (8)carrying value of intangible assets (8)accuracy of revenue (8)inventory valuation and existence (8)impairment of intangible assets (7)goodwill and indefinite life intangible asset impairment assessment (6)valuation of generation assets (6)impairment testing of goodwill and other indefinite life intangible assets (5)goodwill impairment assessment (5)investment property valuation

Recent Auditor Changes

NZLchangedWilliam Buck → PwC
Oct 2025
AFCresignedWilliam Buck Audit (NZ) Limited → ?
Jul 2025
VHPchangedKPMG → Deloitte
May 2025
TRUchangedRSM → Hall Chadwick
May 2025
SDLchangedGrant Thornton → Baker Tilly Staples Rodway
Mar 2025
NZX

Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

Related Insights

Audit Independence

Auditor market concentration, tenure analysis, and director-auditor independence.

Board Attendance

Director meeting participation rates across NZX boards.

Board Skills Matrix

Board competency coverage across NZX companies.

Grant Thornton
5
7% market share
William Buck
4
5% market share
UHY Haines Norton
3
4% market share
BDO
2
3% market share
Hall Chadwick
1
1% market share
RSM
1
1% market share
ENSEnprise Group LimitedUHY Haines Norton
FY2024
MOVMOVE Logistics Group LimitedPwC
FY2024
PHLPromisia Healthcare LimitedWilliam Buck
FY2024
MPGMetro Performance GlassPwC
FY2024
SMLSynlait Milk LimitedPwC
FY2024
TWLTradeWindow Holdings LimitedKPMG
FY2023
RTORTO LimitedWilliam Buck
FY2023
SMLSynlait Milk LimitedPwC
FY2023
ENSEnprise Group LimitedUHY Haines Norton
FY2023
RTORTO LimitedWilliam Buck
FY2022
ENSEnprise Group LimitedRSM
FY2022
TWLTradeWindow Holdings LimitedKPMG
FY2022
BAIBeing AIBDO
FY2021
RTORTO LimitedWilliam Buck
FY2021
PYSPaySauce LimitedGrant Thornton
FY2021
RTORTO LimitedWilliam Buck
FY2020
PYSPaySauce LimitedGrant Thornton
FY2020
BLTBLIS Technologies LimitedDeloitte
FY2019
PYSPaySauce LimitedGrant Thornton
FY2019
IKEikeGPS Group LimitedPwC
FY2018
IKEikeGPS Group LimitedPwC
FY2017
Uncertainty regarding the recoverability of the investments in joint ventures
FY2018
1.1x$204k vs $187k auditFY2021
(5)
valuation of land, land improvements and buildings (5)
valuation and existence of investments at fair value through profit or loss (4)
carrying value of goodwill (4)
changed
KPMG → PwC
Mar 2025
NTLreappointedUHY Haines Norton
Feb 2025
TAHappointedUHY Haines Norton Sydney
Feb 2025
ARBchangedDeloitte → Grant Thornton
Sept 2024
NZKchangedEY → PwC
Jul 2024
RYMchangedDeloitte → PwC
Jun 2024
DOWchangedKPMG → PwC
Apr 2024
WCOchangedBaker Tilly Staples Rodway → Deloitte
Feb 2024
TWLchangedKPMG → UHY Haines Norton Sydney
Jan 2024
THLchangedPwC → EY
Oct 2023
SEKchangedPwC → Grant Thornton
Aug 2023
OCAchangedPwC → EY
Aug 2023
TAHchangedEY → UHY Haines Norton
Jul 2023
ENSchangedRSM → UHY Haines Norton
Jun 2023
2CCappointedUHY Haines Norton
Feb 2023