✨ Audit Report
INDEPENDENT AUDITOR'S REPORT TO THE COMMISSIONERS OF THE NEW ZEALAND COMMERCE COMMISSION AND THE DIRECTORS OF POWERCO LIMITED
Report on Performance Measures
We have been engaged by the Directors of Powerco Limited (Powerco) to conduct a reasonable assurance engagement relating to the compliance of Powerco’s Gas Division with regulations 15 and 16 of the Gas (Information Disclosure) Regulations 1997 (the Regulations) for the period from 1 July 2010 to 30 June 2011.
Board of Directors’ Responsibility
The Board of Directors are responsible for compliance with the regulations 15 and 16 of Regulations.
Auditor’s Responsibility
Our responsibility is to express an opinion on Powerco’s compliance with regulations 15 and 16 of the Regulations, in all material respects. Our engagement has been conducted in accordance with the Standard on Assurance Engagements 3100: Compliance Engagements (“SAE 3100”), to provide reasonable assurance that the Powerco has complied with regulations 15 and 16 of the Regulations.
Our procedures included:
-
Identifying key inputs to financial performance measures and financial components of the efficiency performance measures on page 23 and reconciling or agreeing them to source documents and systems.
-
Reviewing the methodologies used in preparing the financial performance measures and financial components of the efficiency performance measures on page 23 and confirming that they are in accordance with the methodologies set out in clause 1 and 2 of Part 2 of Schedule 1 of the Regulation, and providing assurance that the underlying assumptions used are reasonable; and
-
Testing whether the calculations are mathematically correct.
These procedures have been undertaken to form an opinion as to whether Powerco has complied, in all material respects, with regulations 15 and 16 of the Regulations for the period from 1 July 2010 to 30 June 2011.
Use of Report
This report is provided solely for your use and solely for the purpose of complying with clause 31 of Part 3 of the Regulations. This report is intended solely for the Directors of Powerco Limited and the Commissioners of the New Zealand Commerce Commission. We disclaim any assumption of responsibility for any reliance on this report to any persons or users other than the Directors of Powerco Limited and the Commissioners, or for any purpose other than that for which it was prepared.
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other than in our capacity as independent auditor, we have no relationship with, or interests in, Powerco.
Opinion
We have examined the attached information on page 23 being:
-
Financial performance measures specified in clause 1 of Part 2 of Schedule 1 of the Gas (Information Disclosure) Regulation 1997; and
-
Financial components of the efficiency performance measures specified in clause 2 of Part 2 of that schedule.
Next Page →
NZ Gazette 2012, No 25
✨ LLM interpretation of page content
💰
Audit Report on Powerco Limited's Disclosure Report
(continued from previous page)
💰 Finance & Revenue23 February 2012
Audit, Disclosure Report, Powerco Limited, Financial Statements, Assurance Report