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PricewaterhouseCoopers, 188 Quay Street, Private Bag 92162, Auckland 1142, New Zealand
T: +64 (9) 355 8000, F: +64 (9) 355 8001,
Independent Auditor’s Report
To the readers of The Lines Company
statement of service performance f
The Auditor-General is the auditor of
has appointed me, Pip Cameron
the financial statements and stat
We have audited:
-
the financial statements of
31 March 2012, the statements of comprehensive income,
of cash flows for the year ended on that date and the notes to the financial statements that include
accounting policies and other explanatory information; and
-
the statement of service performance of the
Unqualified Opinion
Financial statements and the statement of service performance
In our opinion:
-
the financial statements of the
- comply with generally accepted accounting practice
-
comply with International Financial Reporting Standards; and
- give a true and fair view of the company and group’s:
- financial position as at 31 March 2012; and
-
financial performance and cash flows for the year ended on that date;
-
the statement of service performance of the
-
complies with generally accepted accounting practice in New Zealand; and
-
gives a true and fair view of the company and group’s achievements measured against the performance
targets adopted for the year ended 31 March 2012.
Other legal requirements
In accordance with the Financial Reporting Act 1993 we report that, in our opinion, p
have been kept by the company as far as appears from an examination of those records.
Our audit was completed on 2 July
The basis of our opinion is explained below. In add
and our responsibilities, and explain our independence.
Basis of opinion
We carried out our audit in accordance with the Auditor
International Standards on Auditing (New Zealand). Those standards require that we comply with ethical
requirements and plan and carry out our audit to obtain reasonable assurance about whether the financial
statements and statement of service performance are free
Material misstatements are differences or omissions of amounts and disclosures that would affect a reader’s
overall understanding of the financial statements and statement of service performance. If we had found
material misstatements that were not corrected, we would have referred to them in our opinion.
An audit involves carrying out procedures to obtain audit evidence about the amounts and disclosures in the
financial statements and statement of service performance. The proc
including our assessment of risks of material misstatement of the financial statements and statement of service
performance whether due to fraud or error. In making those risk assessments, we consider internal contr
relevant to the preparation of the company and group’s financial statements and statement of service
performance that give a true and fair view of the matters to which they relate. We consider internal control in
order to design audit procedures that ar
an opinion on the effectiveness of the company and group’s internal control.
PricewaterhouseCoopers, 188 Quay Street, Private Bag 92162, Auckland 1142, New Zealand
T: +64 (9) 355 8000, F: +64 (9) 355 8001, www.pwc.com/nz
Independent Auditor’s Report
The Lines Company Limited and Group’s financial statements and
statement of service performance for the year ended 31 March 2012
General is the auditor of The Lines Company Limited (the company) and g
Pip Cameron, using the staff and resources of PricewaterhouseCoopers, to carry out the audit of
the financial statements and statement of service performance of the company and group on her behalf.
the financial statements of the company and group on pages 32 to 79, that comprise the balance sheets as at
31 March 2012, the statements of comprehensive income, statements of changes in equity and statements
of cash flows for the year ended on that date and the notes to the financial statements that include
accounting policies and other explanatory information; and
the statement of service performance of the company and group on pages 29 and
Financial statements and the statement of service performance
the financial statements of the company and group on pages 32 to 79:
comply with generally accepted accounting practice in New Zealand;
comply with International Financial Reporting Standards; and
give a true and fair view of the company and group’s:
financial position as at 31 March 2012; and
financial performance and cash flows for the year ended on that date;
tement of service performance of the company and group on pages 29 and
complies with generally accepted accounting practice in New Zealand; and
a true and fair view of the company and group’s achievements measured against the performance
targets adopted for the year ended 31 March 2012.
Other legal requirements
In accordance with the Financial Reporting Act 1993 we report that, in our opinion, p
have been kept by the company as far as appears from an examination of those records.
2 July 2012. This is the date at which our opinion is expressed.
The basis of our opinion is explained below. In addition, we outline the responsibilities of the Board of Directors
and our responsibilities, and explain our independence.
We carried out our audit in accordance with the Auditor-General’s Auditing Standards, which incorporate the
onal Standards on Auditing (New Zealand). Those standards require that we comply with ethical
requirements and plan and carry out our audit to obtain reasonable assurance about whether the financial
statements and statement of service performance are free from material misstatement.
Material misstatements are differences or omissions of amounts and disclosures that would affect a reader’s
overall understanding of the financial statements and statement of service performance. If we had found
tements that were not corrected, we would have referred to them in our opinion.
An audit involves carrying out procedures to obtain audit evidence about the amounts and disclosures in the
financial statements and statement of service performance. The procedures selected depend on our judgement,
including our assessment of risks of material misstatement of the financial statements and statement of service
performance whether due to fraud or error. In making those risk assessments, we consider internal contr
relevant to the preparation of the company and group’s financial statements and statement of service
performance that give a true and fair view of the matters to which they relate. We consider internal control 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 company and group’s internal control.
PricewaterhouseCoopers, 188 Quay Street, Private Bag 92162, Auckland 1142, New Zealand
Limited and Group’s financial statements and
or the year ended 31 March 2012
group. The Auditor-General
, using the staff and resources of PricewaterhouseCoopers, to carry out the audit of
ement of service performance of the company and group on her behalf.
, that comprise the balance sheets as at
statements of changes in equity and statements
of cash flows for the year ended on that date and the notes to the financial statements that include
and 30.
29 and 30:
a true and fair view of the company and group’s achievements measured against the performance
In accordance with the Financial Reporting Act 1993 we report that, in our opinion, proper accounting records
have been kept by the company as far as appears from an examination of those records.
2012. This is the date at which our opinion is expressed.
ition, we outline the responsibilities of the Board of Directors
General’s Auditing Standards, which incorporate the
onal Standards on Auditing (New Zealand). Those standards require that we comply with ethical
requirements and plan and carry out our audit to obtain reasonable assurance about whether the financial
from material misstatement.
Material misstatements are differences or omissions of amounts and disclosures that would affect a reader’s
overall understanding of the financial statements and statement of service performance. If we had found
tements that were not corrected, we would have referred to them in our opinion.
An audit involves carrying out procedures to obtain audit evidence about the amounts and disclosures in the
edures selected depend on our judgement,
including our assessment of risks of material misstatement of the financial statements and statement of service
performance whether due to fraud or error. In making those risk assessments, we consider internal control
relevant to the preparation of the company and group’s financial statements and statement of service
performance that give a true and fair view of the matters to which they relate. We consider internal control in
e appropriate in the circumstances but not for the purpose of expressing
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