New Zealand Gazette – 2001 – No. 92

Page 2372

✨ Audit Report



REPORT OF THE AUDIT OFFICE

TO THE READERS OF THE FINANCIAL STATEMENTS OF THE LINES COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2001

We have audited the financial statements of The Lines Company Limited on pages 1 to 11. The financial statements provide information about the past financial performance of The Lines Company Limited and its financial position as at 31 March 2001. This information is stated in accordance with the accounting policies set out on pages 5 to 7.

Directors Responsibilities

The Electricity (Information Disclosure) Regulations 1999 require the Directors to prepare financial statements which give a true and fair view of the financial position of The Lines Company Limited as at 31 March 2001, and results of operations and cash flows for the year then ended.

Auditor’s Responsibilities

It is the responsibility of the Audit Office to express an independent opinion on the financial statements presented by the Directors and report its opinion to you.

The Controller and Auditor-General has appointed Bruce Taylor of Deloitte Touche Tohmatsu to undertake the audit.

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 judgements made by the Directors in the preparation of the financial statements; and
  • whether the accounting policies are appropriate to The Lines Company Limited’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards, including the Auditing Standards issued by the Institute of Chartered Accountants of New Zealand except that our work has been limited as explained below. 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 obtain reasonable assurance that the financial statements are 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 our capacity acting on behalf of the Controller and Auditor-General, we have no relationship with or interest in The Lines Company Limited.

Unqualified Opinion

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

In our opinion:

  • proper accounting records have been maintained by The Lines Company Limited as far as appears from our examination of those records, and
  • the financial statements on pages 1 to 11:
    (a) comply with generally accepted accounting practice; and
    (b) give a true and fair view of the financial position of The Lines Company Limited as at 31 March 2001 and the results of its operations and cash flows for the year then ended; and
    (c) comply with the Electricity (Information Disclosure) Regulations 1999.

Our audit was completed on 10 August 2001 and our unqualified opinion is expressed as at that date.

Bruce Taylor
Deloitte Touche Tohmatsu
On behalf of the Controller and Auditor-General
Hamilton
New Zealand



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 92


Gazette.govt.nz — PDF NZ Gazette 2001, No 92




✨ LLM interpretation of page content

🏭 Audit Opinion on Performance Measures of The Lines Company Limited (continued from previous page)

🏭 Trade, Customs & Industry
10 August 2001
Audit, Performance Measures, Electricity, Information Disclosure, The Lines Company Limited
  • Bruce Taylor, Deloitte Touche Tohmatsu