Page 70 - NZPM Annual Report 2020

Independent Auditor’s Report
To the Shareholders of NZPM Group Limited

Opinion We have audited the consolidated financial statements of NZPM Group Limited
and its subsidiaries (the ‘Group’), which comprise the consolidated statement of
financial position as at 31 March 2020, and the consolidated statement of profit or
loss and other comprehensive income, consolidated statement of changes in equity
and consolidated statement of cash flows for the year then ended, and notes to the
consolidated financial statements, including a summary of significant accounting
policies.
In our opinion, the accompanying consolidated financial statements, on pages 28
to 67, present fairly, in all material respects, the consolidated financial position of
the Group as at 31 March 2020, and its consolidated financial performance and
cash flows for the year then ended in accordance with New Zealand Equivalents to
International Financial Reporting Standards (‘NZ IFRS’) and International Financial
Reporting Standards (‘IFRS’).

Basis for opinion We conducted our audit in accordance with International Standards on Auditing
(‘ISAs’) and International Standards on Auditing (New Zealand) (‘ISAs (NZ)’).
Our responsibilities under those standards are further described in the Auditor’s
Responsibilities for the Audit of the Consolidated Financial Statements section of
our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
We are independent of the Group in accordance with Professional and Ethical
Standard 1 (Revised) Code of Ethics for Assurance Practitioners issued by the New
Zealand Auditing and Assurance Standards Board and the International Ethics
Standards Board for Accountants’ Code of Ethics for Professional Accountants,
and we have fulfilled our other ethical responsibilities in accordance with these
requirements.
Our firm carries out other assignments for the Group in the area of taxation advice
and other assurance related services including the audit of the share register.
These services have not impaired our independence as auditor of the Company
and Group. In addition to this, an executive of NZPM Group Limited is married to a
Deloitte partner. The Deloitte partner is not involved in the provision of any services
to NZPM Group Limited and this matter has not impacted our independence.
Further, partners and employees of our firm deal with the Company and its
subsidiaries on normal terms within the ordinary course of trading activities of the
business of the Company and its subsidiaries. The firm has no other relationship
with, or interest in, the Company or any of its subsidiaries.

Key audit matters Key audit matters are those matters that, in our professional judgement, were
of most significance in our audit of the financial statements of the current
period. These matters were addressed in the context of our audit of the financial
statements as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters.

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NZPM GROUP LIMITED ANNUAL REPORT 2020