Te pŪrongo 2012
To the readers of Te Wānanga o Aotearoa Te Kuratini o Ngā Waka and group’s financial statements and non-financial
performance information for the year ended 31 December 2012
The Auditor-General is the auditor of Te Wānanga o Aotearoa Te Kuratini o Ngā Waka (the Wānanga) and group. The
Auditor-General has appointed me, B H Halford, using the staff and resources of Audit New Zealand, to carry out the audit
of the financial statements and non-financial performance information of the Wānanga and group on
her behalf.
We have audited:
• the financial statements of the Wānanga and group on pages 74 to 115, that comprise the statement of financial
position as at 31 December 2012, the statement of comprehensive income, statement of changes in equity and
statement 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 non-financial performance information of the Wānanga and group in the performance measurement section of
the annual report on pages 36 to 54.
Opinion
In our opinion:
• the financial statements of the Wānanga and group on pages 74 to 115:
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comply with generally accepted accounting practice in New Zealand; and
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fairly reflect the Wānanga and group’s:
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financial position as at 31 December 2012; and
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financial performance and cash flows for the year ended on that date;
• the non-financial performance information of the Wānanga and group in the performance measurement section
of the annual report on pages 36 to 54
fairly reflects the Wānanga and group’s service performance achievements
measured against the performance targets adopted in the investment plan for the year ended 31 December 2012.
Our audit was completed on 24 April 2013. 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 Council and our
responsibilities, and we explain our independence.
Basis of opinion
We carried out our audit in accordance with the Auditor-General’s Auditing Standards, which incorporate the 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 non-financial performance
information are free from material misstatement.
Material misstatements are differences or omissions of amounts and disclosures that, in our judgement, are likely to
influence readers’ overall understanding of the financial statements and non-financial performance information. 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 non-financial performance information. The procedures selected depend on our judgement, including
our assessment of risks of material misstatement of the financial statements and non-financial performance information,
whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Wānanga
and group’s preparation of the financial statements and non-financial performance information that fairly reflect 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 Wānanga and group’s internal
control.
An audit also involves evaluating:
• the appropriateness of accounting policies used and whether they have been consistently applied;
• the reasonableness of the significant accounting estimates and judgements made by the Council;
• the adequacy of all disclosures in the financial statements and non-financial performance information; and
• the overall presentation of the financial statements and non-financial performance information.
Independent
auditor’s report
72
