This report presents the aggregate results from our audits of central government entities for 2011/12. I also present in-depth results of our audits of government departments, Crown entities, and State-owned enterprises. We have already published our reports on Crown research institutes, local government, and the education, transport, and health sectors.
I have also included a section examining the use of memorandum accounts by central government entities, as well as an analysis of the financial statements of entities in the sector.
My auditors issued 481 audit reports in the central government portfolio. Of these, 400 were standard and 81 were non-standard. Three reports included emphasis of matter paragraphs that drew attention to uncertainties associated with the effects and recovery from the Canterbury earthquakes. We also drew attention to uncertainties associated with the response to the oil spill from the grounding of the container vessel MV Rena, as well as uncertainties arising from structural changes in a range of organisations. We issued adverse opinions for two public entities and qualified the opinions on the financial or non-financial information of eight entities. The reasons for these opinions are detailed in this report.