New Zealand Gazette – 2005 – No. 166

Page 4167

✨ Audit Report



Deloitte

AUDIT REPORT

TO THE READERS OF THE FINANCIAL STATEMENTS OF POWERCO LIMITED

We have audited the financial statements of Powerco Limited. The financial statements provide information about the past financial performance of Powerco Limited and its financial position as at 30 June 2005. This information is stated in accordance with the accounting policies.

Directors' Responsibilities

The Commerce Commission’s Electricity Information Disclosure Requirements 2004 made under section 57T of the Commerce Act 1986 require the Directors to prepare financial statements which give a true and fair view of the financial position of Powerco Limited as at 30 June 2005, and the results of its operations and cash flows for the year ended on that date.

Auditor’s Responsibilities

It is the responsibility of the Auditor-General to express an independent opinion on the financial statements and report that opinion to you.

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 Powerco Limited’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with the New Zealand Auditing Standards. 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 in our capacity as auditor and the provision of taxation, accounting and consulting advice, we have no relationship with or interests in Powerco Limited.

Unqualified Opinion

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

In our opinion —

  • proper accounting records have been maintained by Powerco Limited as far as appears from our examination of those records;

  • the financial statements referred to above:

    (a) comply with generally accepted accounting practice in New Zealand; and

    (b) give a true and fair view of Powerco Limited’s financial position as at 30 June 2005 and the results of its operations and cash flows for the year ended on that date; and

  • comply with the Electricity (Information Disclosure) Requirements 2004.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 166


Gazette.govt.nz — PDF NZ Gazette 2005, No 166




✨ LLM interpretation of page content

🏭 Powerco Limited Disclosure Information (continued from previous page)

🏭 Trade, Customs & Industry
21 September 2005
Disclosure, Commerce Act, Powerco Limited, Financial Statements, Performance Measures
  • Auditor-General