Watchdog wants to plug ports' leaky reporting standards

Watchdog wants to plug ports' leaky reporting standards
Lyttelton wrote down $290m in assets. (Image: Deposit Photos)
Brent Melville
The auditor-general says the fragmented nature of the New Zealand port sector means money is potentially being wasted. In his first audit dedicated to port companies, controller and auditor-general John Ryan highlighted the difficulty in comparing the performance of port companies because of differences in their ownership, size and scale of operations and the way they measure assets.In the report, he encouraged port companies to consistently apply fair value in the valuation of property, plant and equipment. This would provide financial pe...

More Infrastructure

Northport extension consent shot down over cultural impacts
Infrastructure

Northport extension consent shot down over cultural impacts

The port had pitched the project as a catalyst for regional growth.

Oliver Lewis 10 Jul 2024
Cairns flames Fletcher and gives up chair pursuit
Infrastructure

Cairns flames Fletcher and gives up chair pursuit

Three-month wait for 'papal smoke' from board burns off former port boss.

NZ First raises possibility of Aratere grounding being human error
Infrastructure

NZ First raises possibility of Aratere grounding being human error

The social media post was framed in a 'just asking questions' manner.

Oliver Lewis 09 Jul 2024
Five-year plan for universal road-user charges
Infrastructure

Five-year plan for universal road-user charges

A new report from the NZ Initiative makes the case for road pricing.

Oliver Lewis 09 Jul 2024