17 JULY
NEW ZEALAND GAZETTE
1797

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing:

• the significant estimates and judgments made by the trustees in the preparation of the financial statements, and
• whether the accounting policies are appropriate to the trust’s and group’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements is free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.

Other than in our capacity as auditors we have no relationship with or interests in the trust or its subsidiary.

Unqualified Opinion

We have obtained all the information and explanations we have required.

In our opinion:

• proper accounting records have been kept by the trust as far as appears from our examination of those records; and
• the financial statements as attached:
  • comply with generally accepted accounting practice;
  • give a true and fair view of the financial position of the trust and group as at 31 March 1997 and the results of their operations and cash flows for the year ended on that date.

Our audit was completed on 14 June 1997 and our unqualified opinion is expressed as at that date.

Dated this 14th day of June 1997.

WARD WILSON.

Invercargill.

Distribution

A list of the names of persons or organisations to whom the Community Trust has made distribution and the amounts distributed in the financial year ended 31 March 1997 is available on request by writing to the trust’s Executive Director, P.O. Box 1604, Invercargill.

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Trust Bank Waikato Community Trust

Trustee Banks Restructuring Act 1988

Trust Bank Waikato Community Trust Consolidated Financial Statements for the Year Ended 31 March 1997

Audit Report to the Members of Trust Bank Waikato Community Trust

We have audited the financial report. The financial report provides information about the past financial performance and financial position of the trust and group as at 31 March 1997. This information is stated in accordance with the accounting policies set out.

Trustees’ Responsibilities

The trustees are responsible for the preparation of a financial report which gives a true and fair view of the financial position of the trust and group as at 31 March 1997 and of the results of the operations and cash flows for the year ended 31 March 1997.

Auditors’ Responsibilities

It is our responsibility to express an independent opinion of the financial report presented by the trustees and report our opinion to you.

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial report. It also includes assessing:

• the significant estimates and judgments made by the trustees in the preparation of the financial report, and
• whether the accounting policies are appropriate to the trust and group circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial report is free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial report.