NZR
24/04/2015 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS The New Zealand Refining Company Limited
GENERAL: NZR: Independent Audit of NZR processing fee calculations
In light of ongoing shareholder queries about Refining NZ's processing
arrangements with its customers, the Company has today posted a letter from
independent auditor, BDO, summarising the findings of their audit of the
Company's processing fee calculations, to the Company's website.
The audit of the Company's processing fee calculations was part of a range of
internal audit assignments carried out by BDO in 2014. In considering the
accuracy and integrity of the processing fee BDO found that the processing
fee formula was applied to all users in accordance with the processing
agreement. The BDO audit also concluded that the internal control environment
over the processing fee calculation was robust.
The BDO letter is available to shareholders at www.refiningnz.com
ENDS
For further information:
Greg McNeill, Communications and External Affairs Manager,
T: 09 432 8311; M: 021 873 623; E: [email protected]
End CA:00263509 For:NZR Type:GENERAL Time:2015-04-24 08:30:05
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