Annual Report 2013 - Mainfreight

of Directors’ financial Responsibility statements that for are the free Financial from material Statements misstatement, whether due to fraud or error.
Auditor's
The directors
Responsibility
are responsible for the preparation of the financial statements in accordance with generally
Our
accepted
responsibility
accounting
is to
practice
express
in
an
New
opinion
Zealand
on
and
the
that
financial
give
statements
a true and fair
based
view
on
of
our
the
audit.
matters
We
to
conducted
which
our
they
audit
relate,
in
and
accordance
for such
with
internal
International
control as
Standards
the directors
on Auditing
determine
(New
is necessary
Zealand). These
to enable
auditing
the preparation
standards
require
of financial
that
statements
we comply
that
with
are
relevant
free from
ethical
material
requirements
misstatement,
and plan
whether
and perform
due to
the
fraud
audit
or error.
to obtain
reasonable Auditor's Responsibility
assurance about whether the financial statements are free from material misstatement.
An
Our
audit
responsibility
involves performing
is to express
procedures
an opinion
to
on
obtain
the financial
audit evidence
statements
about
based
the amounts
on our audit.
and disclosures
We conducted
in
the
our
financial
audit in accordance
statements.
with
The
International
procedures selected
Standards
depend
on Auditing
on our
(New
judgement,
Zealand).
including
These auditing
the assessment
standards
of
the
require
risks
that
of material
we comply
misstatement
with relevant
of
ethical
the financial
requirements
statements,
and plan
whether
and
due
perform
to fraud
the
or
audit
error.
to obtain
In making
those
reasonable
risk assessments,
assurance about
we have
whether
considered
the financial
the internal
statements
control
are
relevant
free from
to
material
the entity’s
misstatement.
preparation of the
financial An audit involves statements performing that give procedures a true and fair to obtain view of audit the matters evidence to about which the they amounts relate in and order disclosures to design in
audit the financial procedures statements. that are The appropriate procedures in the selected circumstances, depend on but our not judgement, for the purpose including of expressing the assessment an of
opinion the risks on of the material effectiveness misstatement of the of entity’s the financial internal statements, control. An whether audit also due includes to fraud evaluating or error. In the making
appropriateness those risk assessments, of accounting we have policies considered used the and internal the reasonableness control relevant of accounting to the entity’s estimates, preparation as well of as the
evaluating financial statements the overall that presentation give a true of and the fair financial view of statements. the matters to which they relate in order to design
We
audit
believe
procedures
we have
that
obtained
are appropriate
sufficient
in
and
the
appropriate
circumstances,
audit
but
evidence
not for
to
the
provide
purpose
a basis
of expressing
for our audit
an 2
opinion.
opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates, as well as
Ernst evaluating & Young the overall provides presentation taxation advice of the and financial acquisition statements. due diligence services to the company and group.
We have no other relationship, or interest in the company and group.
We believe we have obtained sufficient and appropriate audit evidence to provide a basis for our audit
Partners opinion. and employees of our firm may deal with the company on normal terms within the ordinary
course of trading activities of the business of the company and group.
Ernst & Young provides taxation advice and acquisition due diligence services to the company and group.
Opinion We have no other relationship, or interest in the company and group.
In our
Opinion
opinion, the financial statements on pages 65 to 112:
Partners In our and opinion, employees the financial of our statements firm may deal on pages with the 71 to company 120: on normal terms within the ordinary
► course comply of trading with generally activities of accepted the business accounting of the practice company in and New group. Zealand;
► comply with generally accepted accounting practice in New Zealand;
► Opinion comply with International Financial Reporting Standards; and
► comply with International Financial Reporting Standards; and
In our opinion, the financial statements on pages 65 to 112:
► give a true and fair view of the financial position of Mainfreight Limited and the group as at 31 March
► give a true and fair view of the financial position of Mainfreight Limited and the group as at 31 March
► comply 2013 and the financial performance and cash flows of the company and group for the year then
2012
with
and
generally
the financial
accepted
performance
accounting
and cash
practice
flows
in
of
New
the company
Zealand;
and group for the year then
ended.
► comply ended. with International Financial Reporting Standards; and
Report Report on Other on Other Legal Legal and and Regulatory Requirements
Requirements
► give a true and fair view of the financial position of Mainfreight Limited and the group as at 31 March
In accordance 2013 In accordance and with the financial with the Financial the Financial performance Reporting Reporting and Act Act cash 1993, 1993, flows we we of report the company that:
and group for the year then
ended.
► We ► have We have obtained obtained all the all the information and and explanations that we have required.
Report on Other Legal and Regulatory Requirements
► In ► our In opinion our opinion proper proper accounting records have been kept by Mainfreight Limited as as far far as as appears appears
In accordance from from our examination with our the Financial of of those those Reporting records.
Act 1993, we report that:
► We have obtained all the information and explanations that we have required.
► In our opinion proper accounting records have been kept by Mainfreight Limited as far as appears
27 June from 2013 our examination of those records.
Auckland
27 June 2013
Auckland 27 June 2012
Auckland
114 Mainfreight | Annual Report 2013