New Zealand Farming Systems Uruguay (NZFSU) has given an assurance that the words "fudge this" in its annual financial statements published Wednesday should not be a cause for concern.
Note three to the financial statements, regarding depreciation, included the comment "fudge this to equal depn in FA note 11 $2391
- via no ca".
In a letter to NZFSU, NZX Regulation said the comment had caused NZX, and the market, concern that the financial statements might not be accurate.
In a response, PGG Wrightson general counsel and company secretary Julian Daly said NZFSU "would assure NZX and the market that the comment should not be a cause for concern regarding the accuracy of the financial state-ments".
The comment was a personal file note included in an earlier working draft of the notes to the financial statements, the NZFSU reply said.
The file note was made as a prompt to reconcile a minor rounding difference between the cash flow reconciliation note 3 and the fixed assets note 11 in respect of depreciation expense for the period.
- NZPA
