Central government: Results of the 2015/16 audits

The key audit matters for 2016 are those that are complex, have a high degree of uncertainty, or are otherwise important to the public, such as the cost of rebuilding Canterbury. Accounting for and reporting on the above matters is not straightforward, not least because of the judgements, estimates, and assumptions underpinning the measurement of value.

The key audit matters for 2016 relate to:

  • recognition of tax revenue;
  • valuing the state highway network, electricity generation assets, and rail network assets;
  • valuing the Accident Compensation Corporation's outstanding claims liability and the Government employees' superannuation liability;
  • valuing financial assets and liabilities; and
  • accounting for the effects of the Canterbury earthquakes.

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Commissioning agencies
Date of last publication
Dec 2016

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