✨ Auditor's Report
Independent auditor’s report
For the year ended 30 June 2011
To the directors of Vector Limited
Report on the Group special purpose financial statements
We have audited the accompanying special purpose financial statements of the gas transmission activities of Vector Limited and its subsidiaries ("the Group"). The special purpose financial statements comprise the gas transmission activities’ statement of financial position as at 30 June 2011, the statement of comprehensive income for the year then ended, and a summary of significant accounting policies and other explanatory information. The special purpose financial statements have been prepared for the purposes of regulation 6 of the Gas (Information Disclosure) Regulations 1997 ("the Regulations").
Director’s responsibility for the special purpose financial statements
The directors are responsible for the preparation of these special purpose financial statements in accordance with the requirements of the Regulations, and for such internal control as the directors determine is necessary to enable the preparation of special purpose financial statements that are free from material misstatement whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these special purpose financial statements based on our audit. We conducted our audit in accordance with 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 special purpose consolidated financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the special purpose consolidated financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the special purpose consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Group’s preparation of the special purpose consolidated financial statements 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 Group’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates, as well as evaluating the presentation of the special purpose consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Our firm also performs the audit of the statutory financial statements of the Group, as well as providing other related assurance services and general accounting services. Partners and employees of our firm may also deal with the Group on normal terms within the ordinary course of trading activities of the business of the Group. These matters have not impaired our independence as auditor of the Group. The firm has no other relationship with, or interest in, the Group.
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NZ Gazette 2012, No 24
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Independent Auditor's Report for Vector Limited
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💰 Finance & RevenueAudit, Financial Statements, Gas Transmission, Vector Limited, Regulations