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Audit procedures generally include:
· determining whether significant financial 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 significant estimates and judgements made by the Board;
· confirming 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 financial
statements and performance information.
We evaluated the overall adequacy of the presentation of information in the financial statements
and performance information. We obtained all the information and explanations we required to
support our opinion above.
Responsibilities of the Board and the Auditor
The Board is responsible for preparing financial statements in accordance with generally accepted
accounting practice in New Zealand. Those financial statements must give a true and fair view
of the financial position of the company as at 30 June 2006. They must also give a true and fair
view of the results of its operations and cash flows for the year ended on that date. The Board is
also responsible for preparing performance information that gives a true and fair view of service
performance achievements for the year ended 30 June 2006. The Board's responsibilities arise from
the Financial Reporting Act 1993 and the Local Government Act 2002.
We are responsible for expressing an independent opinion on the financial 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
