of the financial statements and service performance information in accordance with the applicable financial reporting framework, and for such internal control as the Warden and Fellows determine is necessary to enable the preparation of the financial statements and service performance information that is free from material misstatement, whether due to fraud or error. The Warden and Fellows are also responsible, on behalf of the College, for the service performance information, including: • the selection of elements/aspects of service performance, performance measures and/or descriptions and measurement bases or evaluation methods that present service performance information that is appropriate and meaningful in accordance with PBE FRS 48 Service Performance Reporting; • the preparation and fair presentation of service performance information in accordance with the College’s measurement bases or evaluation methods, in accordance with the applicable financial reporting framework; and • the overall presentation, structure and content of the service performance information in accordance with the applicable financial reporting framework. In preparing the financial statements and service performance information, the Warden and Fellows are responsible for assessing the College’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Warden and Fellows either intend to liquidate the College or to cease operations, or have no realistic alternative but to do so. Auditor’s responsibilities for the audit of the financial statements and service performance information Our objectives are to obtain reasonable assurance about whether the financial statements and service
performance information, as a whole, is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (NZ) and NZ AS 1 (Revised) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate or collectively, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements and service performance information. A further description of our responsibilities for the audit of the financial statements and service performance information is located at the External Reporting Board’s website at: https://www.xrb.govt.nz/standards/assurance- standards/auditors-responsibilities/audit-report-14-1/ This description forms part of our auditor’s report. Who we report to This report is made solely to the Warden and Fellows, as a body. Our audit work has been undertaken so that we might state those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the College and the Warden and Fellows, as a body, for our audit work, for this report or for the opinions we have formed. The engagement partner on the audit resulting in this independent auditor’s report is Maxwell John Dixon.
For and on behalf of:
PricewaterhouseCoopers
Christchurch
22 June 2026
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