Page 27 - NZPM Annual Report 2017

DIRECTORS’ The directors are responsible on behalf of the Group for the preparation and fair
RESPONSIBILITIES presentation of the consolidated financial statements in accordance with NZ IFRS and
FOR THE IFRS, and for such internal control as the directors determine is necessary to enable the
CONSOLIDATED
FINANCIAL preparation of consolidated financial statements that are free from material misstatement,
STATEMENTS whether due to fraud or error.
In preparing the consolidated financial statements, the directors are responsible on behalf
of the Group for assessing the Group’s ability to continue as a going concern, disclosing,
as applicable, matters related to going concern and using the going concern basis of
accounting unless the directors either intend to liquidate the Group or to cease operations,
or have no realistic alternative but to do so.

AUDITOR’S Our objectives are to obtain reasonable assurance about whether the consolidated financial
RESPONSIBILITIES statements as a whole are free from material misstatement, whether due to fraud or error,
FOR THE and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high
AUDIT OF THE
CONSOLIDATED level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs
FINANCIAL and ISAs (NZ) will always detect a material misstatement when it exists. Misstatements can
STATEMENTS arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on
the basis of these consolidated financial statements.
A further description of our responsibilities for the audit of the consolidated financial
statements is located on the External Reporting Board’s website at:
https://www.xrb.govt.nz/standards-for-assurance-practitioners/auditors-responsibilities/
audit-report-5
This description forms part of our auditor’s report.
RESTRICTION This report is made solely to the Company’s shareholders, as a body. Our audit has been
ON USE undertaken so that we might state to the Company’s shareholders those matters we are
required to state to them in an auditor’s report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than
the Company’s shareholders as a body, for our audit work, for this report, or for the
opinions we have formed.

Bryce Henderson, Partner
for Deloitte Limited
Auckland, New Zealand
29 June, 2017

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