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2005Annual Report

AUDIT REPORT

TO THE READERS OF THE SECURITIES COMMISSION'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006

The Auditor-General is the auditor of the Securities Commission. The Auditor-General has appointed me, Robert Cox, using the staff and resources of Audit New Zealand, to carry out the audit of the financial statements of the Securities Commission, on his behalf, for the year ended 30 June 2006.

Unqualified opinion
In our opinion the financial statements of the Securities Commission comprising the Statement of Financial Performance, Statement of Changes in Equity, Statement of Financial Position, Statement of Cash Flows, Notes 1 to 19 to the Financial Statements, Statement of Objectives, and the Statement of Service Performance:

• • fairly reflect:
  • – the Securities Commission’s financial position as at 30 June 2006;
  • – the results of its operations and cash flows for the year ended on that date; and
  • – its service performance achievements measured against the performance targets adopted for the year ended on that date.

Matters relating to the electronic presentation of the audited financial statements

This audit report relates to the financial statements of the Securities Commission for the year ended 30 June 2005 included on the Securities Commission's website. The Members of the Commission are responsible for the maintenance and integrity of the Securities Commission's website. We have not been engaged to report on the integrity of the Securities Commission's website. We accept no responsibility for any changes that may have occurred to the financial statements since they were initially presented on the website.

We have not been engaged to report on any other electronic versions of the Securities Commission's financial statements, and accept no responsibility for any changes that may have occurred to electronic versions of the financial statements published on other websites and/or published by other electronic means.

The audit report refers only to the financial statements named above. It does not provide an opinion on any other information which may have been hyperlinked to/from these financial statements. 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 and related audit report dated 3 August 2005 to confirm the information included in the audited financial statements presented on this website.

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