rakon limited annual report 2010 - nzx research...
TRANSCRIPT
Rakon Limited Annual Report 2010
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PricewaterhouseCoopers
188 Quay Street
Private Bag 92162
Auckland, New Zealand
DX CP24073
www.pwc.com/nz
Telephone +64 9 355 8000
Facsimile +64 9 355 8001
Auditors’ Report To the shareholders of Rakon Limited
We have audited the financial statements on pages 3 to 50. The financial statements provide
information about the past financial performance and cash flows of the Company and Group for the
year ended 31 March 2010 and their financial position as at that date. This information is stated in
accordance with the accounting policies set out on pages 8 to 16.
This report is made solely to the Company's shareholders, as a body, in accordance with Section
205 (1) of the Companies Act 1993. Our audit has been undertaken so that we might state to the
Company's shareholders those matters we are required to state to them in an auditors' 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 and the Company's shareholders, as a body, for
our audit work, for this report or for the opinion we have formed.
Directors' Responsibilities
The Company’s Directors are responsible for the preparation and presentation of the financial
statements which give a true and fair view of the financial position of the Company and Group as at
31 March 2010 and their financial performance and cash flows for the year ended on that date.
Auditors’ Responsibilities
We are responsible for expressing an independent opinion on the financial statements presented
by the Directors and reporting our opinion to you.
Basis of Opinion
An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in
the financial statements. It also includes assessing:
(a) the significant estimates and judgements made by the Directors in the preparation of the
financial statements; and
(b) whether the accounting policies are appropriate to the circumstances of the Company and
Group, consistently applied and adequately disclosed.
We conducted our audit in accordance with generally accepted auditing standards in New Zealand.
We planned and performed our audit so as to obtain all the information and explanations which we
considered necessary to provide us with sufficient evidence to give reasonable assurance that the
financial statements are free from material misstatements, whether caused by fraud or error. In
forming our opinion we also evaluated the overall adequacy of the presentation of information in
the financial statements.
We have no relationship with or interests in the Company or any of its subsidiaries other than in our
capacity as auditors and providers of other assurance services.
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Auditors’ Report Rakon Limited
Unqualified Opinion
We have obtained all the information and explanations we have required.
In our opinion:
(a) proper accounting records have been kept by the Company as far as appears from our
examination of those records; and
(b) the financial statements on pages 3 to 50:
(i) comply with generally accepted accounting practice in New Zealand;
(ii) comply with International Financial Reporting Standards; and
(iii) give a true and fair view of the financial position of the Company and Group as at
31 March 2010 and their financial performance and cash flows for the year ended
on that date.
Our audit was completed on 21 May 2010 and our unqualified opinion is expressed as at that date.
Chartered Accountants Auckland
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