Page 74 - Statement of Intent 2015/16

5.6 Notes to the Financial Statements
5.6.1 Significant accounting policies
Reporting entity
Waikato District Health Board (“Waikato DHB”) is a District Health Board established by the New Zealand Public Health and Disability Act 2000 and is a crown entity in terms of the Crown Entities Act 2004, owned by the Crown and domiciled in New Zealand.
Waikato DHB is a reporting entity for the purposes of the New Zealand Public Health and Disability Act 2000, the Financial Reporting Act 1993, the Public Finance Act 1989 and the Crown Entities Act 2004.
The group financial statements of Waikato DHB for the year ended 30 June 2013 include a controlled subsidiary, Waikato Health Trust, Waikato DHB’s interest in an associate (Urology Services Limited) and Waikato DHB’s interest in a jointly controlled entity (HealthShare Limited). Waikato DHB's interest in its associate and joint venture are equity accounted. These companies are incorporated and domiciled in New Zealand.
Waikato DHB’s activities are the purchasing and the delivering of health, disability services, and mental health services to the community within its district. Waikato DHB is a Public Benefit Entity, as defined under New Zealand International Accounting Standard (NZIAS) 1.
Statement of compliance
The financial statements have been prepared in accordance with the New Zealand Public Health and Disability Act 2000, the Crown Entities Act 2004, and Generally Accepted Accounting Practice in New Zealand (NZGAAP).
These financial statements have been prepared in accordance with, and comply with, the May 2013 iteration of the Tier 1 PBE accounting standards.
Basis of preparation
The financial statements have been presented in New Zealand Dollars (NZD), rounded to the nearest thousand. The financial statements have been prepared on a historical cost basis, except where modified by the revaluation of land, buildings, and forward foreign exchange contracts at fair value.
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