✨ Auditor's Report
Deloitte
INDEPENDENT AUDITOR’S REPORT
TO THE TRUSTEES OF
COMMUNITY TRUST OF SOUTHLAND
Report on the Financial Statements
We have audited the financial statements of Community Trust of Southland and group on pages 3 to 27, which comprise the consolidated and separate statement of financial positions of Community Trust of Southland as at 31 March 2011, the consolidated and separate statements of comprehensive income, statements of changes in equity and statements of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.
Board of Directors’ Responsibility for the Financial Statements
The Board of Directors are responsible for the preparation of financial statements in accordance with generally accepted accounting practice in New Zealand and that give a true and fair view of the matters to which they relate, and for such internal control as the Board of Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibilities
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing and International Standards on Auditing (New Zealand). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates, as well as the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements on pages 3 to 27:
- comply with generally accepted accounting practice in New Zealand;
- comply with International Financial Reporting Standards;
- give a true and fair view of the financial position of Community Trust of Southland and group as at 31 March 2011, and their financial performance and cash flows for the year then ended.
Deloitte
Chartered Accountants
DUNEDIN, NEW ZEALAND
PUBLISHED BY THE
DEPARTMENT OF INTERNAL AFFAIRS
newzealand.govt.nz
ISSN 0111-5650
ISSN 1177-8415
Price $7.00 (inc. GST)
NZ Gazette 2011, No 146
✨ LLM interpretation of page content
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Financial Statements of the Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Community Trust, Southland, Audit Report, Financial Position, Financial Performance, Cash Flows
- Deloitte, Chartered Accountants