Audit requirements
Audits must be completed by a chartered accountant holding a practising certificate. Accountants must be independent of both the PTE and the trustee.
The auditor cannot provide you with any other services, apart from an audit of your financial statements.
The audit must be completed within five months of your financial year-end. It needs to cover your compliance and your trustee’s compliance with:
- the Education and Training Act 2020
- the Student Fee Protection Rules 2022
- the relevant Trust Deed.
If you need an extension, please ask us before the due date.
On this page
What if the trustee is Public Trust?
As a Crown entity, Public Trust is audited by external auditors.
If you use Public Trust as a trustee, your audit does not need to cover Public Trust's compliance.
Examples of the required documentation
See some examples of the required documentation taken from the Standard on Assurance Engagements 3100 (Revised) (SAE 3100 (Revised)).
Auditor engagement letter
See Appendix 5, Example 3 of the SAE 3100 (Revised) for an example of an engagement letter:
Appendix 5 - Examples of auditor engagement letter from the SAE 3100 (Revised) [PDF, 319 KB]
Audit opinion
See Appendix 6, Example 2 of the SAE 3100 (Revised) for an example of a Reasonable Assurance Report:
Appendix 6 - Examples of assurance reports from the SAE 3100 (Revised) [PDF, 331 KB]
More information
The full SAE 3100 (Revised) is available for download from the External Reporting Board website:
SAE 3100 (Revised) (external link) — External Reporting Board website