MEDIA RELEASE

1 December 2002

A+ audit for Auckland City

Auckland City has received an excellent report from Audit New Zealand for the year ended 30 June 2002.

The chairperson of the council’s Assessors and Audit Sub-Committee, Deputy Mayor Councillor David Hay, says the council is delighted with the findings of the annual external audit of Auckland City Council.

The audit involved:
- reviewing the minutes of council and sub-committee meetings
- confirming cash and bank balances, investments and public debt
- reviewing creditors, debtors, taxation, fixed assets, equity commitments, contingent liabilities, cash flows and performance measures
- performing testing over infrastructure assets
- reviewing compliance with significant legislation
- reviewing the financial statements for fair presentation and disclosure

“Audit New Zealand has informed the council that the 2002 audit progressed very well, commenting in particular on the quality and accuracy of council documentation, as well as the management and strength of systems of control within the organisation.”

Audit New Zealand is contracted to perform the audit on behalf of the Office of the Controller and Auditor-General.

“The Chief Executive and his team are to be congratulated for what is an A+ report. As is often the case, a small number of minor issues were identified by the audit and these have either already been or are being addressed,” says the Deputy Mayor.

“This audit report reaffirms that residents and ratepayers can be assured their city is being professionally managed.”

Ends

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