Prospectus - Fonterra

64Fonterra Co-operative Group Limited29 January 2009Unqualified opinion on the financial statements, the summary of financial statements and theranking of securitiesWe have obtained all the information and explanations we have required.In our opinion:(a)(b)proper accounting records have been kept by the Company as far as appears from ourexamination of those records;the financial statements of the Borrowing Group, on pages 29 to 61 of this Prospectus, asrequired by clauses 16 to 32 of the Second Schedule of the Securities Regulations 1983,and that are required to be audited:(i)(ii)(iii)comply with the Regulations;subject to those Regulations, comply with generally accepted accounting practicein New Zealand; andgive a true and fair view of the state of affairs of the Borrowing Group as at31 July 2008 and its financial performance and cash flows for the period ended onthat date(c)(d)the amounts or details set out in the summary of financial statements, on page 28 of thisProspectus, as required by clauses 7(2) and 7(3) of the Second Schedule of theSecurities Regulations 1983, have been correctly taken from the audited financialstatements of the Company for the period ended 31 July 2008 and the years ended31 May 2007, 2006, 2005 and 2004 from which they were extracted;the amounts or details as set out in ranking of securities of page 13 of this Prospectus, asrequired by clause 12 of the Second Schedule of the Securities Regulations 1983, havebeen correctly taken from the audited financial statements of the Company, from whichthey were extracted.Yours faithfullyChartered AccountantsAuckland