✨ Auditor's Report
NEW ZEALAND GAZETTE, No. 159
29 NOVEMBER 2010
Auditor’s Report
To the readers of the financial statements of Transpower New Zealand Limited Lines Business for the year ended 30 June 2010.
We have audited the accompanying financial statements of Transpower New Zealand Limited Lines Business. The financial statements provide information about the past financial performance of Transpower New Zealand Limited Lines Business and its financial position as at 30 June 2010. This information is stated in accordance with the accounting policies set out in the Statement of Accounting Policies.
Directors’ Responsibilities
The Commerce Commission’s Electricity Information Disclosure Requirements 2004 made under section 54W of the Commerce Act 1986 require the Directors to prepare financial statements which give a true and fair view of the financial position of Transpower New Zealand Limited Lines Business as at 30 June 2010, and results of its operations and cash flows for the year then ended.
Auditor’s Responsibilities
It is our responsibility to express an independent opinion on the financial statements presented by the Directors 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 statements. It also includes assessing:
- the significant estimates and judgments made by the Directors in the preparation of the financial statements; and
- whether the accounting policies are appropriate to Transpower New Zealand Limited Lines Business 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. We obtained sufficient evidence to give 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.
Ernst & Young is the auditor of Transpower New Zealand Limited and also provides other assurance services. We have no other relationship with or interest in Transpower New Zealand Limited or any of its subsidiaries.
Unqualified Opinion
We have obtained all the information and explanations we have required.
In my opinion:
- proper accounting records have been maintained by Transpower New Zealand Limited Lines Business as far as appears from our examination of those records; and
- the financial statements referred to above:
- comply with generally accepted accounting practice;
- give a true and fair view of the financial position of Transpower New Zealand Limited Lines Business as at 30 June 2010 and the results of its operations and cash flows for the year then ended; and
- comply with the Electricity Information Disclosure Requirements 2004.
Our audit was completed on 19 November 2010 and our opinion is expressed as at that date.
Ernst & Young
Wellington
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NZ Gazette 2010, No 159
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Auditor’s Report on Transpower New Zealand Limited Lines Business Financial Statements
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🏭 Trade, Customs & Industry19 November 2010
Financial Statements, Audit, Transpower, Electricity, Commerce Commission
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