Christchurch Mail - - YOUR LOCAL NEWS -

Christchurch City Coun­cil has re­ceived its first ‘‘clean’’ au­dit opin­ion since the earth­quakes from Au­dit New Zealand and the Au­di­tor-Gen­eral for its 2017 An­nual Re­port. Post-earth­quake, the Coun­cil re­ceived mod­i­fied au­dit re­ports due to is­sues de­ter­min­ing the im­pact of earth­quake dam­age on the value of its as­sets which pre­vented the Coun­cil from fully com­ply­ing with ac­count­ing stan­dards. Coun­cil re­solved the last of these is­sues in 2017, and is now back on the same foot­ing as other local author­i­ties. The Coun­cil’s 2017 An­nual Re­port shows it has to­tal as­sets of $12.8 bil­lion and to­tal li­a­bil­i­ties of $2.2 bil­lion.

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