New Zealand Post welcomed today the release of the 2000/01 Financial Review of New Zealand Post by the Finance and Expenditure Committee.

Chairman Ross Armstrong said New Zealand Post valued the Select Committee process and would make available to the public all documents provided to the Committee since the first meeting in November last year.

"New Zealand Post acknowledges the recommendation by the Committee that the Auditor General undertake an audit of Transend Worldwide Ltd to ensure its policies and procedures are adequate."

"New Zealand Post also looks forward to the Committee's inquiry to consider issues relating to the balance between Parliamentary scrutiny and the ability of State Owned Enterprises to operate effectively in a commercial environment," said Dr Armstrong.

ENDS

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