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To the readers of the Ministry of Transport’s financial statements and Statement of Service Performance for the year ended 30 June 2009

The Auditor General is the auditor of the Ministry of Transport. The Auditor General has appointed me, John O’Connell, using the staff and resources of Audit New Zealand, to carry out the audit of the financial statements and performance information of the Ministry for the year ended 30 June 2009. 

Unqualified Opinion
In our opinion:

  • The financial statements of the Ministry comprising the Statement of Financial Performance, Statement of Movements in Taxpayer’s Funds, Statement of Financial Position, Statement of Cash Flows,  Statement of Commitments, Statement of Contingent Liabilities and Contingent Assets, Statement of Departmental Expenditure against Appropriation, Statement of Departmental Unappropriated Expenditure against Appropriation, Notes 1 to 27 to the Financial Statements, Schedule of Non-departmental Revenue and Receipts, Schedule of Non-departmental Expenses, Schedule of Non-departmental Assets, Schedule of Non-departmental Liabilities, Statement of Non-departmental Expenditure and Capital Expenditure Appropriations, Details of Multi-Year Appropriations, Statement of Non-departmental Commitments, Statement of Non-departmental Contingent Liabilities, Statement of Non-departmental Unappropriated Expenditure, and Notes 1 to 14 to the Schedules  
    • comply with generally accepted accounting practice in New Zealand; and
    • give a true and fair view of:
      • the Ministry’s financial position as at 30 June 2009; and
      • the results of its operations and cash flows for the year ended on that date;
  • The performance information of the Ministry in the Statement of Objectives and Service Performance gives a true and fair view of the achievements measured against the performance targets adopted for the year ended 30 June 2009.
  • Based on our examination the Ministry kept proper accounting records.

The audit was completed on 30 September 2009, and is the date at which our opinion is expressed.

The basis of the opinion is explained below. In addition, we outline the responsibilities of the Chief Executive and the Auditor, and explain our independence. 

Basis of Opinion
We carried out the audit in accordance with the Auditor General’s Auditing Standards, which incorporate the New Zealand Auditing Standards.

We planned and performed our audit to obtain all the information and explanations we considered necessary in order to obtain reasonable assurance that the financial statements and performance information did not have material misstatements, whether caused by fraud or error.

Material misstatements are differences or omissions of amounts and disclosures that would affect a reader’s overall understanding of the financial statements and performance information.  If we had found material misstatements that were not corrected, we would have referred to them in the opinion.

Our audit involved performing procedures to test the information presented in the financial statements and performance information. We assessed the results of those procedures in forming our opinion.

Audit procedures generally include:

  • determining whether significant financial and management controls are working and can be relied on to produce complete and accurate data;
  • verifying samples of transactions and account balances;
  • performing analyses to identify anomalies in the reported data;
  • reviewing significant estimates and judgements made by the Chief Executive;
  • confirming year-end balances;
  • determining whether accounting policies are appropriate and consistently applied; and
  • determining whether all financial statement disclosures are adequate.

We did not examine every transaction, nor do we guarantee complete accuracy of the financial statements and performance information.

We evaluated the overall adequacy of the presentation of information in the financial statements and performance information. We obtained all the information and explanations we required to support the opinion above.

Responsibilities of the Chief Executive and the Auditor
The Chief Executive is responsible for preparing and submitting for audit financial statements in accordance with generally accepted accounting practice in New Zealand. The Chief Executive is also responsible for preparing performance information. Those financial statements and performance information must give a true and fair view of the financial position of the Ministry as at 30 June 2009. They must also give a true and fair view of the results of its operations and cash flows and service performance achievements for the year ended on that date. This responsibility is specified in sections 45A and 45B of the Public Finance Act 1989.

We are responsible for expressing an independent opinion on the financial statements and performance information and reporting that opinion to you. This responsibility is specified in section 15 of the Public Audit Act 2001 and section 45D(2) of the Public Finance Act 1989.

Independence
When carrying out the audit we followed the independence requirements of the Auditor General, which incorporate the independence requirements of the Institute of Chartered Accountants of New Zealand.

Other than the audit, we have no relationship with or interests in the Ministry.

John O’Connell
Audit New Zealand
On behalf of the Auditor General
Wellington, New Zealand

Matters Relating to the Electronic Presentation of the Audited Financial Statements, Statement of Service Performance and Schedules of Non-departmental Activities

This audit report relates to the financial statements, statement of service performance and schedules of non-departmental activities of the Ministry of Transport for the year ended 30 June 2009 included on the Ministry of Transport’s website. The Ministry of Transport’s Chief Executive is responsible for the maintenance and integrity of the Ministry of Transport’s website. We have not been engaged to report on the integrity of the Ministry of Transport’s website. We accept no responsibility for any changes that may have occurred to the financial statements, statement of service performance and schedules of non-departmental activities since they were initially presented on the website.

The audit report refers only to the financial statements, statement of service performance and schedules of non-departmental activities named above. It does not provide an opinion on any other information which may have been hyperlinked to or from the financial statements, statement of service performance and schedules of non-departmental activities. If readers of this report are concerned with the inherent risks arising from electronic data communication they should refer to the published hard copy of the audited financial statements, statement of service performance and schedules of non-departmental activities and related audit report dated 30 September 2009 to confirm the information included in the audited financial statements, statement of service performance and schedules of non departmental activities presented on this website.

Legislation in New Zealand governing the preparation and dissemination of financial information may differ from legislation in other jurisdictions.


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