PTEs that are not TEC funded must lodge annual financial statements
If your PTE is not funded by the Tertiary Education Commission (TEC), you need to provide your annual financial statements.
Financial statements are formal records of the financial activities and position of a business, person, or entity. They are likely to be provided to the Companies Office, Inland Revenue, your Board, your shareholders, other interested parties, or published in an annual report.
Your accountant will know what financial statements you need to do on an annual basis and the relevant legislation your organisation needs to comply with. For example, the Companies Act 1993 sets out the requirements for registered companies.
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Changes to the rules mean some PTEs are exempt
The Private Training Establishment Registration Rules changed on 1 July 2025.
Open the Private Training Establishment Registration Rules
For some PTEs, the change means they may not need to get an independent review or audit of their financial statements.
For most PTEs, their financial statements include an independent review or audit. This is considered part of the PTE’s financial statements and is included in the annual report or submission of financial statements to the Companies Office, Inland Revenue, the Board, shareholders, or other interested parties.
These financial statements, along with the independent review or audit, should also be submitted to NZQA.
If your financial statements have been prepared accurately, following relevant legislation and standards, and an auditor’s report or independent review is not required, you do not need to get one for NZQA's purposes. Simply provide the financial statements that have been prepared.
Not all PTEs need to provide financial statements every year
PTEs that are not funded by TEC must provide financial statements to NZQA.
Category 1 PTEs only need to provide their annual statements every two years. Category 2, 3 or 4, or PTEs that have not undergone an EER need to provide them every year.
PTEs that are funded by TEC don't need to provide NZQA with financial information because TEC assesses the financial viability of funded PTEs.