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Crown Entities Act 2004

Crown entity reporting and financial obligations - Reporting obligations - Reporting: annual report

155: Statement of responsibility

You could also call this:

"We say who is responsible for the financial information."

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When you prepare a statement of responsibility, it must contain some important information. You need to say that you are responsible for preparing the financial statements and statement of performance, and for the judgments in them. You also need to say that you are responsible for making sure the financial reporting is accurate and reliable, and that the financial statements fairly reflect the financial position and operations of the Crown entity. You must also include a statement about any end-of-year performance information provided under section 19A of the Public Finance Act 1989, and say that you are responsible for it. The statement of responsibility must be dated and signed by two members of the board, or by the sole member if it is a corporation sole.

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"Crown entities must prepare yearly financial reports showing how they are doing financially."

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Part 4Crown entity reporting and financial obligations
Reporting obligations: Reporting: annual report

155Statement of responsibility

  1. The statement of responsibility must—

  2. contain a statement of the signatories' responsibility for the preparation of the financial statements and statement of performance and for the judgments in them; and
    1. contain a statement of the signatories' responsibility for establishing and maintaining a system of internal control designed to provide reasonable assurance as to the integrity and reliability of financial reporting; and
      1. contain a statement that, in the opinion of the signatories, the financial statements and statement of performance for the financial year fairly reflect the financial position and operations of the Crown entity; and
        1. contain a statement of the signatories' responsibility for any end-of-year performance information provided by the Crown entity under section 19A of the Public Finance Act 1989, whether or not that information is included in the Crown entity's annual report; and
          1. be dated and signed on behalf of the board by 2 members or, in the case of a corporation sole, by the sole member.

            Notes
            • Section 155(a): amended, on , by section 65(1) of the Crown Entities Amendment Act 2013 (2013 No 51).
            • Section 155(c): amended, on , by section 65(1) of the Crown Entities Amendment Act 2013 (2013 No 51).
            • Section 155(ca): inserted, on , by section 65(2) of the Crown Entities Amendment Act 2013 (2013 No 51).