Airways Annual Report 2019

Airways Corporation of New Zealand Limited Annual Report 2018 2019

Audit report

NZ IFRS

CHAIR AND CEO’S REVIEW

INVESTING IN THE FUTURE

INTEGRATING DRONES INTO OUR AIRSPACE

I NDEPENDENT AUD I TOR ’ S REPORT To the readers of the financial statements of Airways Corporation of New Zealand Limited.

The Auditor-General is the auditor of Airways Corporation of New Zealand Limited (the Company) and its subsidiaries (collectively referred to as ‘the Group’). The Auditor-General has appointed me, Kevin Brown, using the staff and resources of PricewaterhouseCoopers, to carry out the audit of the financial statements of the Group on his behalf. OUR OPINION We have audited the financial statements of the Group on pages 31 to 58, that comprise the balance sheet as at 30 June 2019, the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year ended on that date and the notes to the financial statements, which include key accounting policies. In our opinion, the financial statements of the Group: • present fairly, in all material respects: –– its financial position as at 30 June 2019; and –– its financial performance and cash flows for the year then ended; and • comply with generally accepted accounting practice in New Zealand in accordance with New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS) and International Financial Reporting Standards (IFRS). Our audit was completed on 27 August 2019. This is the date at which our opinion is expressed. The basis for our opinion is explained below. In addition, we outline the responsibilities of the Board of Directors and our responsibilities relating to the financial statements, we comment on other information and we explain our independence. BASIS FOR OPINION We conducted our audit in accordance with the Auditor-General’s Auditing Standards, which incorporate the Professional and Ethical Standards and the International Standards on Auditing (New Zealand) issued by the New Zealand Auditing and Assurance Standards Board. Our responsibilities under those standards are further described in the Responsibilities of the Auditor for the audit of the financial statements section of our report. We have fulfilled our responsibilities in accordance with the Auditor-General’s Auditing Standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

AIRWAYS INTERNATIONAL

SUSTAINABILITY

AIRWAYS BOARD OF DIRECTORS

FINANCIALS

FINANCIAL PERFORMANCE

PERFORMANCE AND PROGRESS AGAINST SCI METRICS

FINANCIAL STATEMENTS

NOTE STRUCTURE

HOW THE NUMBERS ARE CALCULATED RISK GROUP STRUCTURE UNRECOGNISED ITEMS AUDIT REPORT OTHER INFORMATION

EVA KEY PERFORMANCE INDICATORS

ADDITIONAL FINANCIAL INFORMATION

GOVERNANCE AT AIRWAYS

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