This is our report on the 2006/07 audits of the local government sector. Most of these audits were of regional and territorial local authorities and their subsidiary entities.
This is the third year that all regional and territorial local authorities reported under the full requirements of the Local Government Act 2002 (the Act). It is the first year after the sector’s decision to adopt the New Zealand equivalents to International Financial Reporting Standards. Under the Act, the Long-Term Council Community Plan (LTCCP) is now the basis of a local authority’s annual financial and performance accountability to its community. From 2006/07, each local authority reported against its audited 2006-16LTCCP.
Purpose
The purposes of this report are to:
- tell Parliament and the local government sector about matters arising from carrying out our role as auditor of the sector;
- comment on various financial management and reporting, governance, and administration issues;
- highlight some matters and make some observations on development contributions; and
- summarise the findings from some performance audits carried out during the year that affect local government.