Announcement
GENERAL: AKC: Council delays release of results and annual report
02:24pm
AKC
04/08/2020 14:24
GENERAL
NOT PRICE SENSITIVE
REL: 1424 HRS Auckland Council
GENERAL: AKC: Council delays release of results and annual report
Media release
4 August 2020
Council delays release of results announcement and annual report
Auckland Council (Council) is relying on the NZX Class Waiver dated 3 April
2020 (Waiver) in relation to NZX Listing Rules 3.5.1 and 3.6.1. Accordingly,
Council expects to release:
o its results announcement to NZX no later than 28 September 2020; and
o its annual report to NZX no later than 30 October 2020.
As a result of discussions with its auditors, Audit New Zealand and the
Office of the Auditor-General, Council believes it is prudent to delay the
release of its financial results for the year ended 30 June 2020 to no later
than 28 September 2020 and its annual report to no later than 30 October
2020.
The COVID-19 pandemic has given rise to a number of uncertainties which
require management to apply significant judgement to the underlying
assumptions and estimates within the financial statements. The time extension
is required to allow additional time for the audit review of these
judgements, and the extended annual report disclosures relating to the impact
of the COVID-19 pandemic on Auckland Council Group.
End
For further information please contact:
Katherine Forbes,
Head of Public Affairs,
Mobile: +64 21 872 680,
Email: Katherine.forbes@aucklandcouncil.govt.nz
End CA:00357425 For:AKC Type:GENERAL Time:2020-08-04 14:24:24
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