This study looks at how rules for auditing in New Zealand affect the quality of audits. The researchers looked at reviews by the Financial Markets Authority from 2013 to 2017. These reviews showed that while audit quality is getting better in New Zealand, many audits still don't meet the standards set by the FMA. One big issue is that the quality of audits can vary a lot even within the same auditing company. The FMA recommends that audit firms figure out why their audits aren't up to scratch to make sure they do high-quality work all the time. When New Zealand's audits were compared to the United Kingdom's, New Zealand's audits were rated lower. This difference in quality could shake people's trust in the auditing industry. Monitoring improvements in New Zealand's audit quality is crucial.