47
Audit procedures generally include:
· determining whether signifi cant fi nancial and management controls are working and can be relied on to produce complete and accurate data;
· verifying samples of transactions and account balances;
· performing analyses to identify anomalies in the reported data;
· reviewing signifi cant estimates and judgements made by the Board of Directors;
· confi rming year-end balances;
· determining whether accounting policies are appropriate and consistently applied; and
· determining whether all required disclosures are adequate.
We did not examine every transaction, nor do we guarantee complete accuracy of the fi nancial statements and performance information.
We evaluated the overall adequacy of the presentation of information in the fi nancial statements and performance information. We obtained all
the information and explanations we required to support our opinion above.
Responsibilities of the Board of Directors and the Auditor
The Board of Directors is responsible for preparing fi nancial statements in accordance with generally accepted accounting practice in New
Zealand. Those fi nancial statements must give a true and fair view of the fi nancial position of the company as at 30 June 2005. They must
also give a true and fair view of the results of its operations and cash fl ows for the year ended on that date. The Board of Directors is also
responsible for preparing performance information that gives a true and fair view of service performance achievements for the year ended 30
June 2005. The Board of Directors' responsibilities arise from the Financial Reporting Act 1993 and the Local Government Act 2002.
We are responsible for expressing an independent opinion on the fi nancial statements and performance information and reporting that opinion
to you. This responsibility arises from section 15 of the Public Audit Act 2001 and section 69 of the Local Government Act 2002.
Independence
When carrying out the audit we followed the independence requirements of the Auditor-General, which incorporate the independence
requirements of the Institute of Chartered Accountants of New Zealand.
Other than the audit, we have no relationship with or interests in the company.
S M Tobin
Audit New Zealand
On behalf of the Auditor-General
Christchurch, New Zealand
