STANDARDS COUNCIL ANNUAL REPORT...Hon Maurice Williamson (in Auckland), Hon Lianne Dalziel (in Wellington), and Hon Pansy Wong (in Christchurch) presented the awards. Standards New

STANDARDS COUNCIL

ANNUAL REPORTFOR THE 12 MONTHS ENDED 30 JUNE 2010

G.15

If Standards didn’t exist, it’s unlikely we would have innovated and evolved as

much as we have.

Consider not just what you gain from standardisation… think about what

you lose without it.

Standardisation works

OURVISIONNew Zealanders are more prosperous, safer, healthier, and have more convenient lives through the impact of Standards solutions – they value the contribution Standards solutions make.

Standards and Standards solutions have increasing relevance in an ever more interdependent global economy and complex 21st century society. The Standards Council is committed to increasing the value we provide to stakeholders and our contribution to economic development, and improving quality of life, through Standards solutions.

OUR MISSION To boost New Zealand’s economy and advance the welfare of all New Zealanders, regionally, nationally, and globally.

Standards are key enablers of New Zealand’s economic success and a wide range of public good outcomes. The Standards Council’s main purpose is to promote and champion the benefits of Standards for all New Zealanders, while encouraging Government, industry, and the community to value and participate in our activities.

REPORT OF THESTANDARDS COUNCIL

FOR THE 12 MONTHS ENDED 30 JUNE 2010Presented to the House of Representatives pursuant to section 150 of the Crown Entities Act 2004.

G.15

2010_AnnualReportText.indd 1 28/09/10 9:40 AM

STANDARDS COUNCIL ANNUAL REPORT 2010 STANDARDS COUNCIL ANNUAL REPORT 2010


STANDARDS COUNCIL ANNUAL REPORT 2010 3STANDARDS COUNCIL ANNUAL REPORT 2010

PART 1CHAIR’S FOREWORD ............................................................................................................... 4CHIEF EXECUTIVE’S REPORT ................................................................................................ 7

1.1 A viable organisation that offers value-add solutions ........................................... 71.2 Our contribution to New Zealand and New Zealanders ....................................... 91.3 Sector engagement ............................................................................................ 121.4 International activity ............................................................................................ 121.5 The Standards and conformance infrastructure .................................................. 131.6 Organisational capability and development ........................................................ 14

PART 2PERFORMANCE MEASURES ................................................................................................. 15

2.1 Standards Council outcomes/objectives framework ........................................... 152.2 Statement of service performance ...................................................................... 17

PART 3FINANCIAL STATEMENTS ....................................................................................................... 20

Statement of comprehensive income .............................................................................. 21Statement of financial position ........................................................................................ 22Statement of changes in equity ....................................................................................... 23Statement of cash flows .................................................................................................. 24Notes to the financial statements .................................................................................... 25Audit report ...................................................................................................................... 49

STANDARDS COUNCIL ........................................................................................................... 52

TABLE OF CONTENTS


STANDARDS COUNCIL ANNUAL REPORT 20104 STANDARDS COUNCIL ANNUAL REPORT 2010STANDARDS COUNCIL ANNUAL REPORT 2010 STANDARDS COUNCIL ANNUAL REPORT 2010

Minister, we are pleased to submit the Standards Council’s Annual Report for the year to 30 June 2010.

We are delighted to report a surplus for the second year in a row. The net surplus of $162K exceeded the budgeted figure of $3K. It is particularly pleasing to be able to deliver these financial results in light of the challenging global economic conditions of 2009 – 2010. While some areas of our business have seen a downturn due to the recession, the diversification of our sales channels has resulted in an increase in document sales from $3.972m in June 2009 to $4.018m in June 2010.

We are also happy to report that stakeholder satisfaction remains high. Our 2009 – 2010 annual performance survey results showed overall purchaser satisfaction with the supply of Standards rated 6.12 out of 7, compared with 6.04 in 2008 – 2009. Overall sponsor satisfaction with the quality of service received for Standards development rated 5.97 out of 7, compared with 5.55 in 2008 – 2009.

OUR WORKAs New Zealand’s peak Standards body, we are responsible for managing the development and distribution of Standards across a range of sectors. Our work enhances New Zealand’s economy, efficiency, and international competitiveness, and helps meet community demand for a safe and sustainable environment.

Currently Standards and standardisation add significant value to our gross domestic product (GDP) through increasing productivity, strengthening trade relationships, encouraging innovation, and assuring quality. Equally important, Standards and standardisation have an important role to play in protecting people and encouraging environmental sustainability.

Standards developed by Standards New Zealand go through a robust development process – one which is transparent, open, consensus-based, and trusted.

New Zealand’s reputation is well known and our Standards sometimes serve as the basis for international Standards. For example, Risk management – Principles and guidelines AS/NZS ISO 31000:2009, was published in late 2009. As one review of the international Standard stated at the time of its release, ‘one of the many positive aspects of the international Standard is that it was built on the solid footing of the groundbreaking 1995 Australian/New Zealand Standard for risk management’.

That tradition continues as the publication of Business continuity – Managing disruption-related risk AS/NZS 5050:2010 in June 2010 exemplifies. The Standard is believed to be a world first as it applies the international Standard for risk management to disruption-related risk.

As this Annual Report went to press, Canterbury experienced one of the strongest earthquakes in New Zealand since the 1931 Hawke’s Bay earthquake, and stronger than the shock that devastated Haiti earlier this year, killing more than 200 000 people. While the physical damage in Canterbury is estimated at over $3 billion and many buildings will need to be demolished, we can all be thankful that, in the words of the city’s Mayor, ‘Everyone has lost something, but nobody has lost anyone’.

It is worth remembering that Standards New Zealand was founded out of the debris of the Hawke’s Bay earthquake. At that time the government decided New Zealand needed an effective set of building codes and Standards to support them.

That not a single person died in the Canterbury earthquake on 4 September 2010 is testimony to the far-sightedness of that decision and the work of the organisation that was founded in 1932. New Zealand’s building codes and Standards were tested more rigorously than at any time in the last 75 years...and passed.

Standards developed by Standards New Zealand go through

a robust development process – one which is transparent, open,

consensus-based, and trusted.

CHAIR’S FOREWORD


STANDARDS COUNCIL ANNUAL REPORT 2010 STANDARDS COUNCIL ANNUAL REPORT 2010STANDARDS COUNCIL ANNUAL REPORT 2010 5STANDARDS COUNCIL ANNUAL REPORT 2010

OUR PEOPLEStandards New Zealand continues to operate under a business model that requires a careful balance between cost recovery and delivery of the Council’s mission and vision. We have an effective Standards Council in place which is supported by a competent and hard-working Chief Executive, Senior Leadership Team, and staff.

On behalf of the Standards Council I would like to thank Carol Stigley – a stalwart champion of Standards and standardisation – who stepped down from the Standards Council after serving on it for 7 years. Carol was a valuable contributor to the Council. She served as the Chair of the Audit and Risk Management Subcommittee to ensure there is strategic awareness of risk and management of risk at Standards New Zealand. She also served on the Information Systems Strategic Plan (ISSP) Subcommittee.

The Standards Council welcomes Tom Campbell and Fay Sowerby. Both have been appointed for 3-year terms that will expire on 16 May 2013. The combined expertise and knowledge of Tom and Fay will enhance the existing strategic and leadership skills in the Standards Council.

Standards New Zealand is fortunate to have some of the best and brightest people within their fields volunteering their time to sit on Standards development committees. The committee members’ employing organisations also need to be acknowledged for enabling the significant time and effort required for Standards development.

Each year the Standards Council and Standards New Zealand celebrate the winners of the ‘Meritorious Service Awards’ and honour the 2000-plus Standards development committee members for their work over the previous year. The 2009 award winners were announced at breakfasts in February and March 2010. Guest speakers Hon Maurice Williamson (in Auckland), Hon Lianne Dalziel (in Wellington), and Hon Pansy Wong (in Christchurch) presented the awards.

Standards New Zealand also recognises the value of true partnerships and alliances. In an era when state sector organisations must all do more with less, it is important that we’re able to have people like Peter Berry from the Electricity Engineers’ Association represent Standards New Zealand at international meetings. We continue to strengthen our strategic partnerships with dozens of industry and community organisations.

We also continue to foster our unique relationship with Standards Australia, our trans-Tasman partner and ‘sister’ national Standards body.

OUR SUCCESSESWe continued developing and refining the Council’s strategic planning and developed new ways of working, with a clear and effective focus on our clients and customers. Standards New Zealand published 122 Standards in 2009 – 2010 and worked hard to ensure these Standards represent industry and user consensus, are pitched to the right level, and are fit for purpose. We are able to do this because we get the right people around the table to examine what already exists and we ensure we facilitate fair, consensus-based decision-making in the Standards development process.

Our interactions with government and industry stakeholders are now more strategic, more focused, and better targeted. This year we had an increase in the number of state sector organisations sponsoring Standards solutions. We also offer a more diversified range of services.

At an international level, New Zealand is well respected although adequate coverage of key Standards projects continues to be challenging. New Zealand is a full-voting member on 66 International Organization for Standardization (ISO) technical committees and subcommittees and 33 International Electrotechnical Commission (IEC) technical committees and subcommittees.

Standards New Zealand published 122 Standards and worked

hard to ensure these Standards represent industry and user consensus,

are pitched to the right level, and are fit for purpose.



OUR CHALLENGESAt times in New Zealand it seems that one of our greatest strengths – the ‘she’ll be right’ attitude – could become our greatest weakness. This attitude sometimes keeps us from fully realising the value of Standards and standardisation. In fact, our current approach to Standards and standardisation runs counter to international evidence that shows a strong correlation between success and standardisation. The Standards Council must continue to build awareness about Standards and standardisation across all markets.

Through Standards development we also offer the Government new ways to tackle some of our country’s thorniest issues – from carbon footprinting to strengthening our trade relationships. The Standards Council is clear that we need to find new ways to work with key government agencies to show how standardisation contributes to economic growth and productivity. We also need to encourage a cohesive, overarching Standards policy that weaves standardisation into the fabric of our society and economy.

CONCLUSIONClose to 2 years ago, the Standards Council examined the Standards New Zealand business model and the commercial footing of its operations. I am proud of Standards New Zealand’s success in this area. I am also proud of our ability to maintain our international reputation and to continue to publish quality Standards. But we as an organisation – and New Zealand as a country – could be doing so much more.

Sometimes to look toward the future one needs to consider the past. Several years ago I was travelling in Northland and I ended up talking with a man from New Jersey, USA. He was the owner of a chemical company who had been using our AS/NZS risk management Standard for his business. After using that Standard for years he decided he wanted to come to Australia and New Zealand. He wanted to find out what made our two countries so forward thinking. That’s the kind of country I want to live in, but the reality is that of Organisation for Economic Co-operation and Development (OECD) nations, New Zealand now lags far behind in our commitment to Standards and standardisation.

The next few years will be critical for the Standards Council and Standards New Zealand. We will need to look at offering related services and products in order to continue to be viable. We will also need to champion the value of Standards and clearly show the value proposition that standardisation offers.

In this we greatly value your support, Minister, for the work of the Standards Council and Standards New Zealand.

This will be my last year as Chair of the Standards Council. I would personally like to thank all of the members of the Council I have had the honour to serve with over the past 7 years. I would also like to acknowledge the many Standards New Zealand staff, volunteer committee members, stakeholders, and users of Standards – your commitment to Standards and standardisation is important and commendable.

Richard WestlakeChairStandards Council



1.1 A VIABLE ORGANISATION THAT OFFERS VALUE-ADD SOLUTIONS

Standards New Zealand had an outstanding set of achievements in 2009 – 2010 as detailed in Part 2 of this report. Key among these achievements were:

1. ongoing financial viability – recording our second end-of-year surplus in a row. This allows us to reinvest into the organisation, and to further our three core goals to ‘sustain, invest, and grow’

2. increased stakeholder satisfaction across key performance indicators

3. investment in our people and our infrastructure4. greater agility and adaptability in a challenging

economic environment5. delivering value for money to customers and clients.

Our achievements are the result of commitment from the Standards Council, our Senior Leadership Team, and the hard work and passion of our staff, sponsors, and volunteers. These results would not have been possible without strategic alignment between governance, management, and staff.

Building a strong foundationThe past 2 years have been a particularly exciting time for Standards New Zealand. We continue to transform the organisation to support achievement of our goals to ‘sustain, invest, and grow’. We have found that even during incredibly challenging economic times, under our current business model, we have achieved and maintained financial viability. This has been accomplished, in part, by diversifying our client base and moving into new markets to ensure that we remain resilient and relevant.

Within our organisation we encourage a culture of understanding about the needs of government, businesses, and the public. At the same time, our external communications highlight the benefits of Standards and standardisation to targeted audiences.

Standards New Zealand is a results-focused organisation. We are confident in our approach to Standards development and have put a proposition out to a number of public service agencies suggesting that up to a 25% saving can be made by using the national Standards body as a service partner.

We also recognise the value of investing in our organisation and its infrastructure. For example, in 2009 – 2010 we began to implement our ISSP. When fully completed, the project will replace our legacy systems and bring us into the new digital age.

Financial sustainabilityThe net surplus for the year to 30 June 2010 stands at $162K against the budgeted surplus of $3K.

This is the organisation’s second consecutive end-of-year surplus which represents the collective efforts of the Standards Council and Standards New Zealand staff, sponsors, and volunteers. In my view, the result is even more impressive given the challenging broader economic environment we are operating in.

I would particularly like to acknowledge the effort and drive of our Senior Leadership Team who are supported by competent and committed staff. Without the Standards New Zealand team we would not have achieved this year’s good result.

There are several major factors behind the strong result.

1. A continued focus on the new business model, including value-adding aspects:• reducing non-funded activity• realising the benefits of reassigning business

relationship activities to the Senior Leadership Team and Solutions Managers

• better understanding our costs and carefully managing pricing and margins.

2. An ongoing commitment to building our understanding of our clients’ and customers’ needs, and continuously improving the processes that affect perceptions of what we do.

3. The citation of AS/NZS 3000:2007 Electrical installations (known as the Australian/New Zealand Wiring Rules) in the Electrical (Safety) Regulations 2010.

4. We have prioritised the Standards Council’s international activity based on available resources.

5. We have tapped into the broader value contained in the national Standards catalogue, expanding the existing client and customer base, as well as offering more tailored solutions to stakeholders.

PublicationsOver the year we have continued with a strong development programme of new and revised Standards, adding to the quality of the national catalogue’s stock.

PART 1 CHIEF EXECUTIVE’S REPORT



A total of 1282 Standards are aligned with 1322 ISO and IEC equivalents, representing 42% of the national catalogue. Taken with the 81% of the national catalogue formed of joint Australian/New Zealand Standards, these numbers highlight our desire to draw on international, then regional, and where appropriate national best practice.

Nearly half of the Standards in our current catalogue are more than 10 years old. Best practice for Standards development suggests that – depending on the type of Standard – Standards be reviewed at least every 5 to 7 years to ensure that they are current, relevant, and fit for purpose. Standards New Zealand is aware of this and continues to work with stakeholders in the various sectors to address this need.

Our volunteersI would like to acknowledge and warmly thank the hundreds of people who serve on committees for their ongoing efforts, and support for standardisation and our organisation. The generous sharing of the time, expertise, and knowledge of committee members is crucial to delivering our vision to improve the lives of New Zealanders through standardisation. I also applaud the employers that enable their staff to participate on committees and recognise the many self-employed committee members who contribute their time. Volunteers are the life blood of our Standards process and their efforts deserve recognition.

Our 2009 ‘Meritorious Service Award’ winners were Don Bunting, Dr Stephen Chiles, Brett Gawn, and David Prosser. To further recognise volunteer excellence and commitment, in 2009 – 2010 Standards New Zealand introduced two new awards.

• ‘Outstanding Committee of the Year’ which was won by the Joint Australian/New Zealand committee on the safety of household and similar electrical appliances, tools, small power transformers, and power supplies, EL-002.

• ‘Outstanding Contribution to Standards and Standardisation’ which was won by consumer advocate Patricia Cunniffe.

Outstanding committee awardEL-002 – the Joint Australian/New Zealand committee on the safety of household and similar electrical appliances, tools, small power transformers and power supplies.

Known as an extremely effective and efficient committee, EL-002 manages a large number of Standards of importance to consumer safety and satisfaction, ranging from toasters to ovens, to washing machines to hand-held power tools. Currently EL-002 reviews and manages 50 to 60 projects per year. Beyond its joint Standards work, the committee also provides valuable input into international Standards development.

The 30-member EL-002 committee is chaired by New Zealander, Derek Johns. The committee includes five New Zealand members and 25 Australian members who represent a broad spectrum of industry and government stakeholders. Since 2000, the Secretariat for EL-002 has resided in New Zealand.

Published Standards, by secretariat

180180

160

140

120

100

80

140

120

100

80

60

40

20

0

119

86

62

20 1515

Joint*: Australiansecretariat

Joint*: New Zealandsecretariat

2008/09

2009/10

Adopted

11

* Joint Australian/New Zealand Standards** Includes 1 Standard counted twice, due to different formats, and two appendices

NZ-only**

Total Standards in the national catalogue (excluding amendments)

0

Adopted & Endorsed

2008/09

2009/10

0

500

1000

1500

2000

2500

3000

154

Joint* NZ

153

2456 2469

426 428

*Joint Australian/New Zealand Standards



Consumer advocate wins excellence awardThis year consumer advocate Patricia Cunniffe was presented with the Standards Council Award for Outstanding Contribution to Standards and Standardisation. Patricia has been a consumer representative on national Standards committees for over 10 years. During that time she has earned the esteem of consumer advocates, industry representatives, and regulators alike.

In her acceptance speech, Patricia noted that ‘respect and consensus are two of the trademarks of Standards committees. It’s imperative that consumer representatives are involved at the decision-making level in Standards development.’

Patricia has been a consumer rights advocate for decades. In 1974, she co-founded the New Zealand Disabilities Resource Centre in Palmerston North. She also served as manager for the New Zealand Disabilities Information Bureau from 1980 to 1990.

At the Meritorious Awards’ ceremonies, Standards New Zealand launched the ‘101 benefits of standardisation’ campaign to promote the benefits of Standards and standardisation to New Zealanders. While there are at least 101 ways that Standards and standardisation improve our economy, our environment, and our quality of life – none of those benefits would be possible without the dedication and hard work of our committee members.

1.2 OUR CONTRIBUTION TO NEW ZEALAND AND NEW ZEALANDERS

Standards make a difference in the lives of every New Zealander. From the oven that our bread was baked in this morning, to the chair you’re sitting in right now, to the smoke alarm you’ll depend on tonight to keep your family safe, to the toys you want to ensure are safe for the children in your life to play with, and to how your local council plans for future land development in your community – Standards ensure these products and systems are safe and reliable.

Standards and standardisation are recognised as important elements in encouraging continuous improvement, innovation, and new product development. They also have an invaluable role to play in building our economy. In fact, international research suggests that standardisation can add at least 1% to our GDP. In dollar terms, this would equate to a contribution of over $1.6 billion to our economy.

For example, a study published in 2009 by the AFNOR1 Group for the French government concluded that standardisation contributes an average of 0.81% per year to the French economy, or almost 25% of GDP growth. A study by the German Institute for Standardisation found that Standards contributed about 1% to GDP annually, a contribution second only to capital investment as a source of growth.

In these times of financial uncertainty and increasing pressures on trade, we feel that the contribution Standards and standardisation can make in New Zealand is more significant than ever before.

The New Zealand Treasury expects annual average growth in the economy to improve from the -2.2% recorded in September 2009 to -0.4% in March 2010 and 2.4% in March 2011, driven by a recovery in domestic demand.2 But as the Treasury notes, a ‘large proportion of the risks and uncertainties around the outlook for New Zealand relate to the global economic outlook, especially around global financial markets and international commodity prices. If global growth falters and credit conditions tighten again, both businesses and households will be adversely affected’.

That viewpoint is reiterated by the OECD, which noted in the OECD Economic Survey of New Zealand 2009: ‘The small size and remoteness of the economy diminish its access to world markets, the scale and efficiency of domestic businesses, the level of competition and proximity to the world’s technology frontier. This points to the need for a “New Zealand policy advantage”, that is, a set of structural policies attractive and welcoming enough to overcome the geographic handicap and attract the drivers of prosperity – investment, skills and ideas – to New Zealand.’ 3

With this economic climate as the backdrop, Standards and standardisation offer value-added solutions that will enable and support New Zealand remaining competitive in the global economy. These solutions will also fulfil the Standards Council’s vision that New Zealanders are more prosperous, safer, healthier, and have more convenient lives.

With this economic climate as the backdrop, Standards and standardisation offer

value-added solutions that will enable and support New Zealand remaining competitive

in the global economy.

1 The Economic Impact of Standardization. Technological Change, Standards Growth in France. French Association for Standardization (AFNOR) (2009)

2 The Treasury, ‘The Economy of New Zealand: Overview 2010’. Retrieved 24 August 2010 from: www.treasury.govt.nz/economy/overview/2010/04.htm#_tocIntroduction

3 OECD, Economic Survey of New Zealand, 2009. Retrieved 24 August 2010from: www.oecd.org/dataoecd/62/41/42564695.pdf



Standards and the global economyNew Zealand looks to international Standards more and more to strengthen our trade relationships and to ensure we are aligned with international best practice. Standards New Zealand, as the national member of ISO and IEC, is an active participant in international Standards development.

Through our participation we are able to share our expertise and knowledge in a number of areas, as well as ensure that New Zealand interests are considered. However, resources available to Standards New Zealand to carry out this important role remain limited. We continue to highlight the roles and opportunities available through international Standards participation with the Government and the Ministry of Economic Development.

Working to remove barriers to New Zealand tradeISO is looking closely at the issues of food miles and carbon footprinting; these issues could have major implications for New Zealand exporters. Standards New Zealand has made it a priority to ensure New Zealand is represented in these international discussions.

International Standards are already setting the tone for reducing food miles. As Landcare Research reported in a Business & Sustainability Briefing Paper: ‘Some European retailers have quantified the impact of their supply chain and designed transport and energy efficiency measures for their entire supply chain. Marks & Spencer uses a system that breaks the ISO 14001 environmental management Standard into different stages that suppliers need to achieve depending on their energy intensity and environmental impact.’4

Standards New Zealand also operates the Technical Barriers to Trade (TBT) Enquiry Point on behalf of the Ministry of Foreign Affairs and Trade.5 In June 2010 we launched new TBT webpages on the Standards New Zealand website. The pages include general information on trade barriers and New Zealand’s obligations under the TBT Agreement. Site visitors can also search for recently proposed TBT Notifications of measures that may have an impact on New Zealand’s trade in foreign markets.

International geospatial Standards develop capabilitiesAccording to a study commissioned by Land Information New Zealand, the Department of Conservation, and the Ministry of Economic Development, Spatial Information in the New Zealand Economy – Realising Productivity Gains, the use and re-use of spatial information is estimated to have added $1.2 billion in productivity-related benefits to the New Zealand economy in 2008. This value is the result of increasing adoption of modern spatial information technologies over the period 1995 to 2008, and is equivalent to slightly more than 0.6% of GDP or GNP in 2008.

ISO Technical Committee on Geographic Information/Geomatics (ISO TC 211) has developed a range of Standards to advance geospatial interoperability. In New Zealand application of these Standards is important in developing capabilities such as national environment accounting, the Australian and New Zealand Spatial Marketplace concept, and numerous other government and commercial capabilities.

New Zealand participates on ISO TC 211 and Standards New Zealand has recently refreshed the international review group providing New Zealand’s input into these international Standards and technical specifications. Organisations represented on this review group include Land Information New Zealand, Surveying and Spatial Sciences Institute New Zealand, New Zealand Utilities Advisory Group, Ministry for the Environment, Local Government New Zealand, Association of Crown Research Institutes, New Zealand Transport Agency, and a representative from the Emergency Services.

4 Stancu, C. & Smith, A. 2006. Food Miles – the international debate and implications for New Zealand exporters. Business & Sustainability Series Briefing Paper 1. Retrieved 25 August 2010 from: www.landcareresearch.co.nz/research/sustainablesoc/business/trade/documents/food_miles.pdf

5 As a World Trade Organization member New Zealand is required to operate a national enquiry point to respond to TBT queries.



The role of Standards in the trans-Tasman economyGiven the importance of an integrated trans-Tasman economy, and the increasing role both countries are playing in each other’s regulatory reform, the close relationship between Standards New Zealand and Standards Australia is more important than ever. We are happy to report that we have renewed our Memorandum of Understanding with Standards Australia. We welcome Colin Blair as Standards Australia’s new CEO and look forward to maintaining this collegial and productive relationship. The joint Standards development work carried out by Standards New Zealand and Standards Australia is an important but often overlooked contribution to promoting the single economic market (SEM) agenda.

Strengthening Australian/New Zealand tradeForming 81% of New Zealand’s national Standards catalogue, joint Australian/New Zealand Standards play an underpinning role in the $27 billion two-way trade relationship, and offer scope for further increases in the magnitude of exports and investment. This year alone saw the publication of 106 joint Standards – covering everything from room heaters to road lighting, to safety in laboratories to fall-arrest systems and devices.

Supporting a quality regulatory environmentBy using a consensus-based process that effectively draws on external experts on Standards development committees and involves consultation with affected parties, Standards New Zealand has a valuable role to play in the approach to policy development. The use of an appropriate Standard, developed by a committee of experts, also increases buy-in from the relevant sector or industry.

Beyond that, Standards allow for highly technical information, often necessary to understand the policy, written into a document developed and published by Standards New Zealand.

Safety wired into regulationsIn early 2010, the Electricity Regulations 1997 were repealed and replaced with new Electricity (Safety) Regulations 2010. The new and improved regulations cite more Standards. It’s an approach that allows flexibility and certainty to industry. For consumers it provides greater certainty that whatever is installed is acceptable and that their appliances are safe.

Standards cited in the new regulations range from electrical installations of construction and demolition sites to technical management programmes for medical devices.

Promoting good practiceFor many years government funding arrangements have been a source of tension for not-for-profit organisations. Many claim that government contracting arrangements carry excessive compliance costs, appear to be one-sided, and fail to share risk.

To address this issue, the Minister for the Community and Voluntary Sector, Tariana Turia, asked the Office for the Community and Voluntary Sector (OCVS) to develop a good-practice funding code. Standards New Zealand was chosen to partner with OCVS on this project through a competitive tender process.

The Code of Funding Practice is expected to be published in September 2010 and will address issues such as high-compliance costs, innovation in achieving results, monitoring and evaluation, and shared outcomes.

Supporting better ways to do businessStandards and standardisation support improvements to products, services, and processes. They also serve as a way to make the most of research and development by providing a channel to industry so they can be applied practically.



Particularly with consumers in mindOne of the most widely recognised functions of Standards is setting specifications for the safe design, construction, and operation of goods, services, and processes. Standards give consumers confidence that the goods and services they are using are safe, reliable, and will do what they are meant to. Consumer confidence is essential to a healthy marketplace.

Pharmacy servicesA New Zealand Standard published in April 2010 is now considered the foundation for describing good practice and fostering continuous improvement in the quality of pharmacy services. Health and disability services Standards – Pharmacy services Standard NZS 8134.7:2010 covers community and hospital-based pharmacy services, as well as clinical pharmacy services not provided from a pharmacy.

NZS 8134.7 contains sections on consumer rights, continuum of service delivery, safe and appropriate environment, and compounding and dispensing. The Standard is now used by Ministry of Health medicines control auditors for pharmacy audits.

1.3 SECTOR ENGAGEMENTStandardisation spans all aspects of New Zealand’s economy and society. Given our size and finite resources, we continue to prioritise our efforts and stakeholder engagement to five key sectors: building and construction, energy and safety, health, education, infrastructure and environment.

Again this year we have seen an increase in the number of state sector organisations sponsoring Standards development – this is an important signal that we’re delivering quality outcomes and supporting efficiencies across the public sector. We also entered into relationships with organisations such as the Ministry of Fisheries and the Office for the Community and Voluntary Sector (OCVS) to use our consensus-based approach in new ways.

As an organisation we measure satisfaction levels for three groups of stakeholders – those serving on Standards development committees, sponsors of Standards development, and purchasers of Standards. We continue to achieve high levels of customer satisfaction.

Results6 from the 2009 – 2010 annual performance survey are extremely positive:

• overall purchaser satisfaction with the supply of Standards rated 6.12 out of 7, compared with 6.04 last year

• overall sponsor satisfaction with the quality of service received for Standards development rated 5.97 out of 7, compared with 5.55 last year

• membership rated 5.12 out of 7 for providing value for money (the same as last year).

These results are testament to the hard work of all our staff through the year. As an organisation we continually look for ways to improve our services and processes to maintain and improve on such high satisfaction levels.

1.4 INTERNATIONAL ACTIVITYWe have continued to implement the Council’s international strategy, which seeks to advance New Zealand’s national interests at both a global and regional level. The contribution of this strategy can be felt across the spectrum of our activities.

In September 2009 we made a formal submission on ISO’s 2011 – 2015 Strategic Plan. Standards New Zealand’s submission was informed by consultations with key stakeholders in July and August 2009. As part of our submission we noted that:

As an overarching goal for 2015, New Zealand stakeholders would like to see ISO continue to strengthen its focus on being a genuinely international organisation, which seeks to support equal participation and balanced views from all corners of the globe. ISO should seek to use the best strategies and technologies to support the multiple dimensions of sustainability, and tame the tyranny of distance for all members.

6 More than 7800 stakeholders were invited to participate in the independent survey, responses totalled 1136 and the margin of error was +/- 2.9%. Source: Annual Performance Survey 2009/2010 conducted by Andrew Fletcher Research Limited.

Annual Performance Survey

7

6

5

4

3

2

1

0

6.04 6.12

Purchaser satisfaction

2008/09 2009/10

Sponsor satisfactionquality of service

Value for money rated by membership

5.555.97

5.12 5.12



Beyond New Zealand’s bordersIn May 2010, as Chief Executive of Standards New Zealand I was able to visit the Korean Agency for Technology and South Korean Standards body. Known for their commitment to Standards it was an extremely validating experience to witness first-hand the benefits of standardisation to Korea’s economic growth. During this visit, I also represented New Zealand at the Pacific Area Standards Congress meeting which was held in Mongolia. One of many important discussions held during the meeting was the importance of good regulation and Standards in international trade. There was also discussion on the need for global cooperation to make Smart Grid developments more effective worldwide.

New Zealand’s involvement on ISO and IEC international Standards development committees is summarised below. In addition, New Zealand is a participant on one of four ISO policy development committees, and an observer on the other three. New Zealand holds the secretariat for one ISO subcommittee (ISO TC 46/SC 4 Technical interoperability).

Total number of committees

New Zealand involvement

Participant Observer

ISO*

Technical Committees

216 22 43

Subcommittees 537 44 45

IEC

Technical Committees

94 11 44

Subcommittees 80 22 40

* Includes Joint Technical Committee 1 (JTC 1), a joint ISO and IEC initiative

New Zealand has maintained 100% voting compliance on all committees where we are a participant. Memberships continue to be reviewed in light of changing national and international issues. Standards New Zealand has found engagement with stakeholders to secure agreement and funding on ISO and IEC technical committee participation both challenging and resource intensive.

Protecting lives of New ZealandersOne of the international Standards meetings held in New Zealand in 2009 – 2010 was a meeting of the subcommittee of the ISO technical committee on ‘Fire safety engineering’ (ISO TC 92/SC4). New Zealand participation in ISO TC 92/SC4 and its working groups provides an important opportunity for New Zealand fire engineering research and implementation to feed into and be informed by international Standards and best practice. The possible adoption of several ISO TC 92 produced documents is also being considered as part of New Zealand’s proposed fire safety engineering framework.

1.5 THE STANDARDS AND CONFORMANCE INFRASTRUCTURE

As a not-for-profit, user-funded Crown entity there are a number of critical success factors for us, some within our control, others that we can only seek to influence. We continue to work to address these through prudent financial management, application of more stringent business disciplines, and collaboration with key industry and government stakeholders.

We have actively participated at the Regulators’ Forum led by the Ministry of Economic Development and engaged with central agencies on how the national Standards and conformance infrastructure could be better used. We have continued building our collaborative relationships with the other infrastructure bodies, as well as the wider regulatory bodies.



1.6 ORGANISATIONAL CAPABILITY AND DEVELOPMENT

Demonstrating performanceThe national Standards body continues to provide focused, efficient, and productive services in a cost-effective manor that does not burden the New Zealand taxpayer.

We are confident that our project management, consensus building, and document publication services are high quality and represent value for money. This point is underscored by our exemplar levels of customer and client satisfaction achieved during the year.

Our business model, which was independently endorsed by PricewaterhouseCoopers, continues to underpin our successful organisational performance.

In May 2010 the Standards Council wrote to 12 public sector chief executives offering shared service arrangements and a potential saving of 10% to 25% on standardisation activity undertaken by those agencies. We stand behind our offer to ‘benchmark’ with other Standards development groups within the wider public and private sectors.

Over 2009/2010 the Standards Council has continued to improve and drive performance in the following ways:

• streamlining organisational structure and business processes to be agile and responsive to customer and client needs

• diversifying product and service lines to meet the market

• carefully balancing revenue and operational expenditure

• highlighting ‘in-kind’ contributions by expert volunteers to the owner (as an additional dimension of value for money).

Our ISO 9000 certification was renewed in November 2009. The Standards Council’s performance improvement framework (PIF) is firmly based on international best practice as encapsulated by the ISO 9000 family of Standards for quality management systems.

The Standards Council continues to capture accurate financial and non-financial information to demonstrate value for money – see Part 2 performance measures.

PeopleThe past 12 months has seen our teams, clients, and customers benefitting from Standards New Zealand’s re-organisation in late 2008 and the post-implementation review in late 2009. As a result of these changes, our staff have wider opportunities for professional development. We continue to cultivate a results-focused culture that reinforces the business discipline essential to our continuing sustainability.

Staff retention for the full year stood at 85.50% (in 2008 – 2009 our staff retention was 88%). Staff movement over 2009 – 2010 has resulted mainly from individuals seeking career development opportunities in larger organisations. The achieved result, while slightly lower than our target of 88%, is consistent with organisations of Standards New Zealand’s size and is within acceptable margins.

The 2010 independent staff workplace survey had an excellent participation rate (90%) and showed that overall satisfaction levels had increased from 69% in 2008 – 2009 to 73% in 2009 – 2010. All of the survey’s 10 sections showed an improvement over the last survey, with marked improvements in many areas.

Processes, tools, and systemsStandards New Zealand places continuing emphasis on our integrity, our independence, and the quality of our systems and processes. We are also an organisation that ‘walks the talk’ for Standards and standardisation. In recognition of our commitment to having quality management systems in place, we were reissued our ISO 9000 certification in November 2009 for another year and received another ‘clean audit’.

This year we began to implement the first phase of our ISSP. Through this ongoing investment in our systems, we intend to enable faster, more adaptive services to support our committees, as well as improve our ability to respond to the changing needs of our customers, clients, and staff.

An important element of our ISSP work is the ability to maintain and access Standards New Zealand’s historical data. Continuing our relationship with the Government Shared Services Scheme, we engaged the Department of Internal Affairs to identify a feasible and cost-effective data repository solution that will meet Standards New Zealand’s requirements.



2.1

STAN

DARD

S CO

UNCI

L OU

TCOM

ES/O

BJEC

TIVE

S FR

AMEW

ORK

OUTC

OMES

IMPA

CTS

PERF

ORMA

NCE

MEAS

URES

2009

/2010

RES

ULT

NOTE

S

Stan

dard

s sol

utio

ns

mee

t the

nee

ds fo

r co

mm

erce

, tra

de, a

nd

indu

stry

– in

crea

sing

natio

nal p

rodu

ctivi

ty an

d su

ppor

ting

New

Zeala

nd

firm

s to

be m

ore g

loba

lly

com

petit

ive.

Incr

easin

g th

e up

take

of

Stan

dard

s solu

tions

by

Gove

rnm

ent,

indus

try, a

nd

cons

umer

s to

mee

t the

ir ne

eds a

nd m

anag

e ris

ks.

Uptak

e of S

tanda

rds

solut

ions,

meas

ured

by

sales

of pu

blica

tions

≥

budg

et ($

4m)

Actua

l resu

lt $4.0

18m

Targ

et ex

ceed

ed

Budg

ets w

ere e

xcee

ded o

n join

t AS/

NZS

Stan

dard

s an

d ove

rseas

Stan

dard

s sale

s, ro

yaltie

s, me

mber

ship,

an

d Ass

et Pl

us. T

he st

rong

resu

lt was

supp

orted

by

new

chan

nel d

evelo

pmen

t and

stro

ng sa

les of

AS/

NZS

3000

:2007

Elec

trica

l insta

llatio

ns (k

nown

as

the A

ustra

lian/N

ew Z

ealan

d Wirin

g Rule

s), fu

rther

to

the ne

w El

ectric

al (S

afety)

Reg

ulatio

ns 20

10 be

ing

publi

shed

in th

e las

t qua

rter o

f 200

9/201

0.St

anda

rds s

olut

ions

m

eet t

he n

eeds

for

cons

umer

s, su

pplie

rs,

and

Gove

rnm

ent –

en

ablin

g th

e pro

visio

n of

go

ods a

nd se

rvice

s tha

t ar

e mor

e rele

vant

, saf

e, re

liabl

e, su

stain

able,

and

fit fo

r pur

pose

.

Incr

easin

g th

e sp

onso

ring

of S

tand

ards

solut

ions b

y re

gulat

ors,

indus

try, a

nd

cons

umer

ass

ociat

ions t

o ad

dres

s key

nee

ds.

Stak

ehold

er sa

tisfac

tion

(as m

easu

red b

y sur

vey,

scor

e out

of 7)

:

Custo

mers

≥ 6.0

Comm

ittees

≥ 5.

8

Clien

ts ≥

5.5

Actua

l inde

pend

ent s

urve

y re

sults

again

st a 7

-poin

t sc

ale:

Custo

mers

= 6.1

2

Comm

ittees

= 6.1

0

Clien

ts =

5.97

Targ

et ex

ceed

ed

All re

sults

> 20

08/20

09 –

see S

tatem

ent o

f Ser

vice

Perfo

rman

ce.

Spon

sorsh

ip of

Stan

dard

s so

lution

s, me

asur

ed by

ag

reem

ents

for se

rvice

≥

budg

et ($

2.5m)

Actua

l reve

nue $

1.777

mTa

rget

not m

et

Reco

gnise

d (or

earn

ed) c

ontra

ct re

venu

e stoo

d at

$1.77

7m, b

elow

the fo

reca

st of

$2.05

0m. T

he lo

wer

reve

nue r

eflec

ts the

ongo

ing cu

ts in

state

secto

r ex

pend

iture

(inclu

ding S

tanda

rds d

evelo

pmen

t bu

dgets

) and

the c

ontin

ued n

egati

ve flo

w-on

in m

any

key s

ector

s fro

m the

glob

al ec

onom

ic cri

sis. L

ookin

g for

ward

, the S

tanda

rds C

ounc

il’s ‘s

igned

’ opp

ortun

ity

pipeli

ne cu

rrentl

y stan

ds at

$1.6m

. In a

dditio

n, me

mora

nda o

f und

ersta

nding

have

been

sign

ed w

ith

two k

ey cl

ients,

bring

ing th

e tota

l pipe

line fi

gure

to

over

$2.5m

.

PART 2 PERFORMANCE MEASURES



OBJE

CTIV

EIM

PACT

S PE

RFOR

MANC

E ME

ASUR

ES20

09/20

10 R

ESUL

TNO

TES

The S

tand

ards

Cou

ncil

oper

atio

nal a

ctivi

ties a

re

optim

ised,

enab

ling

it to

un

derta

ke it

s miss

ion

to th

e ful

lest p

ossib

le ex

tent

.

Main

taini

ng th

e St

anda

rds

Coun

cil’s

finan

cial a

nd

oper

ation

al via

bility

to

deliv

er its

out

com

es.

Net s

urplu

s ≥ bu

dget

($3K

)Ac

tual re

sult $

162K

surp

lusTa

rget

exce

eded

This

is the

entity

’s se

cond

cons

ecuti

ve en

d-of-

year

su

rplus

and d

irectl

y refl

ects

the co

llecti

ve ef

forts

of the

Stan

dard

s Cou

ncil a

nd al

l Stan

dard

s New

Ze

aland

staff

. This

surp

lus re

sult i

s imp

ress

ive gi

ven

the ch

allen

ging b

road

er ec

onom

ic en

viron

ment

Stan

dard

s New

Zea

land c

ontin

ues t

o ope

rate

in.

Total

cash

rese

rves*

≥ $2

mAc

tual re

sult $

2.974

mTa

rget

exce

eded

ISO

9000

certifi

catio

n ma

intain

ed by

Stan

dard

s Ne

w Ze

aland

Certifi

catio

n main

taine

dTa

rget

met

Staff

reten

tion*

* ≥ 88

% as

at

30 Ju

ne 20

10Ac

tual 8

5.50%

Targ

et no

t met

Staff

mov

emen

t ove

r 200

9/201

0 has

prim

arily

re

sulte

d fro

m ind

ividu

als se

eking

care

er de

velop

ment

oppo

rtunit

ies in

larg

er or

ganis

ation

s. Th

e actu

al re

sult,

while

sligh

tly lo

wer t

han t

arge

t, is c

onsis

tent

with

orga

nisati

ons o

f Stan

dard

s New

Zea

land’s

siz

e and

is w

ithin

acce

ptable

mar

gins.

The 2

010

indep

ende

nt sta

ff wor

kplac

e sur

vey h

ad an

exce

llent

partic

ipatio

n rate

(90%

) and

show

ed th

at ov

erall

sa

tisfac

tion l

evels

had i

ncre

ased

69%

(200

9) to

73%

.

* Re

pres

ented

by th

e tota

l of ‘c

ash a

nd ca

sh eq

uivale

nts’ a

nd ‘s

hort-

term

depo

sits’.

** Ex

clude

s staf

f mov

emen

t rela

ted to

retire

ment,

end o

f fixe

d-ter

m co

ntrac

ts, te

rmina

tion o

n med

ical g

roun

ds, v

olunta

ry re

dund

ancy

, and

leav

es of

abse

nce.



OBJE

CTIV

EIM

PACT

S PE

RFOR

MANC

E ME

ASUR

ES20

09/20

10 R

ESUL

TNO

TES

The S

tand

ards

Cou

ncil

oper

atio

nal a

ctivi

ties a

re

optim

ised,

enab

ling

it to

un

derta

ke it

s miss

ion

to th

e ful

lest p

ossib

le ex

tent

.

Main

taini

ng th

e St

anda

rds

Coun

cil’s

finan

cial a

nd

oper

ation

al via

bility

to

deliv

er its

out

com

es.

Net s

urplu

s ≥ bu

dget

($3K

)Ac

tual re

sult $

162K

surp

lusTa

rget

exce

eded

This

is the

entity

’s se

cond

cons

ecuti

ve en

d-of-

year

su

rplus

and d

irectl

y refl

ects

the co

llecti

ve ef

forts

of the

Stan

dard

s Cou

ncil a

nd al

l Stan

dard

s New

Ze

aland

staff

. This

surp

lus re

sult i

s imp

ress

ive gi

ven

the ch

allen

ging b

road

er ec

onom

ic en

viron

ment

Stan

dard

s New

Zea

land c

ontin

ues t

o ope

rate

in.

Total

cash

rese

rves*

≥ $2

mAc

tual re

sult $

2.974

mTa

rget

exce

eded

ISO

9000

certifi

catio

n ma

intain

ed by

Stan

dard

s Ne

w Ze

aland

Certifi

catio

n main

taine

dTa

rget

met

Staff

reten

tion*

* ≥ 88

% as

at

30 Ju

ne 20

10Ac

tual 8

5.50%

Targ

et no

t met

Staff

mov

emen

t ove

r 200

9/201

0 has

prim

arily

re

sulte

d fro

m ind

ividu

als se

eking

care

er de

velop

ment

oppo

rtunit

ies in

larg

er or

ganis

ation

s. Th

e actu

al re

sult,

while

sligh

tly lo

wer t

han t

arge

t, is c

onsis

tent

with

orga

nisati

ons o

f Stan

dard

s New

Zea

land’s

siz

e and

is w

ithin

acce

ptable

mar

gins.

The 2

010

indep

ende

nt sta

ff wor

kplac

e sur

vey h

ad an

exce

llent

partic

ipatio

n rate

(90%

) and

show

ed th

at ov

erall

sa

tisfac

tion l

evels

had i

ncre

ased

69%

(200

9) to

73%

.

* Re

pres

ented

by th

e tota

l of ‘c

ash a

nd ca

sh eq

uivale

nts’ a

nd ‘s

hort-

term

depo

sits’.

** Ex

clude

s staf

f mov

emen

t rela

ted to

retire

ment,

end o

f fixe

d-ter

m co

ntrac

ts, te

rmina

tion o

n med

ical g

roun

ds, v

olunta

ry re

dund

ancy

, and

leav

es of

abse

nce.

2.2

ST

ATEM

ENT

OF

SER

VIC

E PE

RFO

RM

AN

CE

OUTP

UT A

REA

1: S

TAND

ARDS

SOL

UTIO

N PR

OVIS

ION

(Clie

nt e

ngag

emen

t to

fund

dev

elopm

ent o

f Sta

ndar

ds so

lution

s, m

anag

ing a

nd co

ordin

ating

Sta

ndar

ds d

evelo

pmen

t, fa

cilita

ting

stake

holde

r par

ticipa

tion,

pub

lishin

g St

anda

rds

solut

ions,

and

over

seein

g Ne

w Ze

aland

’s int

erna

tiona

l and

regio

nal p

artic

ipatio

n).

2009

/2010

TARG

ET20

09/20

10 R

ESUL

TNO

TES

QUAN

TITY

Agre

emen

ts for

servi

ce fo

r Stan

dard

s so

lution

s (as

a pr

oxy f

or su

ppor

t for

spon

sorsh

ip of

Stan

dard

s solu

tions

)

$2.5m

Actua

l reve

nue $

1.777

mTa

rget

not m

et

The l

ower

reve

nue r

eflec

ts the

ongo

ing cu

ts in

state

secto

r ex

pend

iture

and t

he co

ntinu

ed ne

gativ

e flow

-on i

n man

y ke

y sec

tors f

rom

the gl

obal

econ

omic

crisis

. Stan

dard

s Ne

w Ze

aland

is fo

cusin

g its

effor

ts to

prom

ote a

wide

r ra

nge o

f ser

vices

and p

rodu

cts an

d inc

reas

e its

clien

t ba

se fo

r the

comi

ng ye

ar.

New

Zeala

nd pa

rticipa

ting m

embe

rship

of ag

reed

, key

ISO

and I

EC te

chnic

al co

mmitte

es. *

**

75%

> 75

% pa

rticipa

tion o

f agr

eed

key t

echn

ical c

ommi

ttees

(a

s ass

esse

d by t

he na

tiona

l St

anda

rds b

ody)

Targ

et me

t

Pres

sure

on fu

nding

avail

able

to St

anda

rds N

ew Z

ealan

d for

inter

natio

nal a

ctivit

y inc

reas

ed ov

er 20

09/20

10.

A tar

get o

f 75%

is pr

agma

tic, h

owev

er st

riving

for f

ull

cove

rage

of ke

y ISO

and I

EC te

chnic

al co

mmitte

es

direc

tly re

levan

t to N

ew Z

ealan

d’s ec

onom

y is i

mpor

tant.

Stan

dard

s New

Zea

land c

ontin

ues t

o acti

vely

identi

fy op

portu

nities

for in

terna

tiona

l Stan

dard

s par

ticipa

tion (

and

poten

tial ri

sks o

f non

-par

ticipa

tion)

with

centr

al ag

encie

s, ind

ustry

bodie

s, an

d the

Mini

stry o

f Eco

nomi

c De

velop

ment.

Exa

mples

of to

pics d

irectl

y rele

vant

to the

New

Zea

land e

cono

my in

clude

adve

nture

tour

ism,

susta

inabil

ity, c

limate

chan

ge, a

nd su

pply

chain

ma

nage

ment

(such

as in

terna

tiona

l Stan

dard

s tha

t cou

ld im

pact

on ac

cess

to gl

obal

marke

ts, tr

ade,

and N

ew

Zeala

nd’s

expo

rt se

ctor).



OUTP

UT A

REA

1: S

TAND

ARDS

SOL

UTIO

N PR

OVIS

ION

– CON

TINU

ED(C

lient

eng

agem

ent t

o fu

nd d

evelo

pmen

t of S

tand

ards

solut

ions,

man

aging

and

coor

dinat

ing S

tand

ards

dev

elopm

ent,

facil

itatin

g sta

keho

lder p

artic

ipatio

n, p

ublis

hing

Stan

dard

s so

lution

s, an

d ov

erse

eing

New

Zeala

nd’s

inter

natio

nal a

nd re

giona

l par

ticipa

tion)

.

2009

/2010

TARG

ET20

09/20

10 R

ESUL

TNO

TES

QUAL

ITY

Stak

ehold

er sa

tisfac

tion (

by se

gmen

t, 1–

7 sca

le):

Expe

rt co

mmitte

e mem

bers

Clien

ts

5.8 5.5

Actua

l inde

pend

ent s

urve

y res

ult

again

st a 7

-poin

t sca

le

Expe

rt co

mmitte

e mem

bers

= 6.1

0

Clien

ts =

5.97

Targ

et ex

ceed

ed

> 20

08/20

09 re

sult (

5.91)

> 20

08/20

09 re

sult (

5.55)

TIME

LINE

SS

Stan

dard

s solu

tion p

rojec

ts de

liver

ed to

or

igina

l pro

ject p

lan ag

reed

with

spon

sor

(or t

o rev

ised d

ate fo

llowi

ng ag

reed

chan

ge

contr

ol).

80%

(100

% to

revis

ed da

te)85

% to

origi

nal p

lan***

*

(100

% to

revis

ed da

te)

Targ

et me

t

*** C

ommi

ttees

cove

ring a

n are

a or s

et of

issue

s of s

trateg

ic or

natio

nal in

teres

t as a

gree

d with

the M

inistr

y of E

cono

mic D

evelo

pmen

t, Mini

stry o

f For

eign A

ffairs

and T

rade

,

Minis

try of

Agr

icultu

re an

d For

estry

, Dep

artm

ent o

f Lab

our, a

nd N

ew Z

ealan

d Tra

de an

d Ente

rpris

e.

**** O

ne pr

oject

was d

elaye

d at th

e clie

nt’s r

eque

st. T

his pr

oject

has b

een i

nclud

ed in

the ‘

origi

nal p

lan’ s

tatist

ic giv

en th

ese c

ircum

stanc

es w

ere o

utside

Stan

dard

s New

Zea

land’s

contr

ol.



OUTP

UT A

REA

2: S

TAND

ARDS

SOL

UTIO

N UP

TAKE

(Dire

ct m

arke

ting,

telem

arke

ting,

subs

cript

ion se

rvice

s, or

der f

ulfilm

ent,

educ

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PART 3 FINANCIAL STATEMENTSSTANDARDS COUNCIL

STATEMENT OF RESPONSIBILITY In terms of the Crown Entities Act 2004, the Council is responsible for the preparation of the Standards Council’s financial statements and Statement of Service Performance, and for the judgements made in them.

The Standards Council is responsible for establishing, and has established, a system of internal control designed to provide reasonable assurance of the integrity and reliability of financial reporting. In the Council’s opinion, these financial statements and Statement of Service Performance fairly reflect the financial position and operations of the Standards Council for the year ended 30 June 2010.

Signed on behalf of the Council:

Sharon Kletchko Vaughan RennerDeputy Chair Council Member and Standards Council Member of Audit and Risk Subcommittee Standards Council

23 September 2010 Wellington, New Zealand



STATEMENT OF COMPREHENSIVE INCOMEFor the year ended 30 June 2010

2010 2009

Note Actual Budget Actual

$ $ $

Income

Sale of documents 4,018,274 3,977,376 3,972,267Contracts for service 1,776,573 2,500,000 2,163,906Membership 575,202 523,100 599,257Royalty income 238,876 199,024 303,466Other income 464,031 615,245 428,908Interest income 141,073 82,000 197,560Dividend income 20 0 35

Total income 7,214,049 7,896,745 7,665,399

Expenditure

Personnel expenses 3 3,854,019 4,093,147 4,061,233Other operating expenses 4 2,425,055 2,964,805 2,486,231Fees paid to auditors 5 26,499 30,000 26,318Council fees 20 117,200 137,200 129,700Depreciation and amortisation expenses 10, 11 265,527 320,003 408,132Losses/(gains) 2 14,959 0 6,713Rental expense on operating lease payments 332,623 332,623 332,623Stock written-off 15,232 15,000 18,211Receivables written-off 6 598 1,000 227

Total expenditure 7,051,712 7,893,778 7,469,388

Surplus 162,337 2,967 196,011

Other comprehensive income 372 0 164

Total comprehensive income 162,709 2,967 196,175

Explanations of significant variances against budget are detailed in Note 26.

The accompanying notes form part of these financial statements.



As at 30 June 2010

2010 2009Note Actual Budget Actual

$ $ $AssetsCurrent assets

Cash and cash equivalents 572,438 361,019 627,947

Debtors and other receivables 6 1,145,598 1,244,183 1,213,450

Prepayments 46,898 13,749 12,303

Inventories - stock of publications 7 71,060 90,969 75,370

Investments - short-term deposits 8 2,368,582 2,318,387 2,736,387

Total current assets 4,204,576 4,028,307 4,665,457

Non-current assetsInvestment - shares 9 1,315 779 943

Property, plant, and equipment 10 129,369 154,163 192,834

Intangible assets 11 1,022,154 1,342,324 446,498

Total non-current assets 1,152,838 1,497,266 640,275

Total assets 5,357,414 5,525,573 5,305,732

LiabilitiesCurrent liabilities

Creditors and other payables 12 647,009 1,051,055 552,455

Employee entitlements 13 564,594 586,627 523,620

Income in advance 801,076 844,545 1,026,356

Total current liabilities 2,012,679 2,482,227 2,102,431

Non-current liabilitiesEmployee entitlements 13 113,306 131,457 134,581

Provisions 14 133,000 133,000 133,000

Total non-current liabilities 246,306 264,457 267,581

Total liabilities 2,258,985 2,746,684 2,370,012

Net assets 3,098,429 2,778,889 2,935,720

EquityGeneral funds 15 3,097,728 2,778,724 2,935,391

Other reserves 15 701 165 329

Total equity 3,098,429 2,778,889 2,935,720


STATEMENT OF FINANCIAL POSITION



STATEMENT OF CHANGES IN EQUITYFor the year ended 30 June 2010

2010 2009

Note Actual Budget Actual

$ $ $

Balance at 1 July 2,935,720 2,775,922 2,739,545Total comprehensive income 162,709 2,967 196,175

Balance at 30 June 15 3,098,429 2,778,889 2,935,720




For the year ended 30 June 2010

2010 2009Note Actual Budget Actual

$ $ $Cash flows from operating activities

Receipts from customers 6,918,328 7,808,731 7,710,660

Interest received 137,648 82,000 194,644

Dividends received 20 0 35

Payments to suppliers (2,797,370) (3,558,268) (2,977,197)

Payments to employees (3,834,320) (4,058,144) (4,227,000)

Interest paid 0 0 0

Goods and services tax (net) (35,833) 42,555 (3,559)

Net cash from operating activities 16 388,473 316,874 697,583

Cash flows from investing activitiesReceipts from sale of property, plant, and equipment 0 0 507

Receipts from investments - short-term deposits 367,805 418,000 0

Purchase of property, plant, and equipment (24,266) (46,000) (59,205)

Purchase of intangible assets (787,521) (743,375) (254,979)

Acquisition of investments - short-term deposits 0 0 (167,400)

Net cash from investing activities (443,982) (371,375) (481,077)

Cash flows from financing activitiesRepayment of finance leases 0 0 0

Net cash from financing activities 0 0 0

Net increase/(decrease) in cash and cash equivalents (55,509) (54,501) 216,506

Cash and cash equivalents at the beginning of the year 627,947 415,520 411,441

Cash and cash equivalents at the end of the year 572,438 361,019 627,947

The GST (net) component of operating activities reflects the net GST paid and received with the Inland Revenue Department.

The GST (net) component has been presented on a net basis, as the gross amounts do not provide meaningful information for financial statement purposes.

The accompanying notes form an integral part of these financial statements.

STATEMENT OF CASH FLOWS



NOTES TO THE FINANCIAL STATEMENTSFor the year ended 30 June 2010

1 STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES FOR THE YEAR ENDED 30 JUNE 2010

REPORTING ENTITYThe Standards Council (‘the Council’) is a Crown entity as defined by the Crown Entities Act 2004 and is domiciled in New Zealand. As such, the Council’s ultimate parent is the New Zealand Crown.

The Council’s primary objective is to develop Standards and to promote, encourage, and facilitate the use of Standards and other Standards solutions in New Zealand, which contribute to the health, safety, and social and economic well-being of New Zealanders, as opposed to that of making a financial return.

Accordingly, the Council has designated itself as a public benefit entity for the purposes of New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS).

The Council operates a trading arm, Standards New Zealand, whose results are incorporated in these financial statements. The financial statements of the Council are for the year ended 30 June 2010. The financial statements were authorised for issue by the Council on 23 September 2010.

BASIS OF PREPARATION

Statement of ComplianceThe financial statements of the Council have been prepared in accordance with the requirements of the Crown Entities Act 2004, which includes the requirement to comply with New Zealand generally accepted accounting practices (NZ GAAP).

The financial statements comply with NZ IFRS, and other applicable financial reporting standards, as appropriate for public benefit entities.

Measurement baseThe financial statements have been prepared on a historical cost basis, except where modified by the revaluation of equity investments at fair value.

Functional and presentation currencyThe financial statements are presented in New Zealand dollars. The functional currency of the Council is New Zealand dollars.

Changes in accounting policies There have been no changes in accounting policies during the financial year.

The Council has adopted the following revisions to accounting standards during the financial year, which have only had a presentation or disclosure effect:

• NZ IAS 1 Presentation of Financial Statements (revised 2007) replaces NZ IAS 1 Presentation of Financial Statements (issued 2004). The revised standard requires information in financial statements to be aggregated on the basis of shared characteristics and introduces a Statement of Comprehensive Income. The Council has decided to prepare a single Statement of Comprehensive Income for the year ended 30 June 2010 under the revised standard. Financial statement information for the year ended 30 June 2009 has been restated accordingly. Items of other comprehensive income presented in the Statement of Comprehensive Income were previously recognised in the Statement of Changes in Equity.



Standards, amendments, and interpretations issued that are not yet effective and have not been early adoptedStandards, amendments, and interpretations issued but not yet effective that have not been early adopted, and which are relevant to the Council include:

• NZ IAS 24 related Party Disclosures (revised 2009) replaces NZ IAS 24 Related Party Disclosures (issued 2004) and is effective for reporting periods commencing on or after 1 January 2011. The revised standard:(i) Removes the previous disclosure concessions applied by the Council for arms-length transactions between the

Council and entities controlled or significantly influenced by the Crown. The effect of the revised standard is that more information is required to be disclosed about transactions between the Council and entities controlled or significantly influenced by the Crown.

(ii) Provides clarity on the disclosure of related party transactions with Ministers of the Crown. Further, with the exception of the Minister of Commerce, the Council will be provided with an exemption from certain disclosure requirements relating to transactions with other Ministers of the Crown. The clarification could result in additional disclosures should there be any related party transactions with Ministers of the Crown.

(iii) Clarifies that related party transactions include commitments with related parties. The Council expects the new standard will not be early adopted.

• NZ IFRS 9 Financial Instruments will eventually replace NZ IAS 39 Financial Instruments: Recognition and Measurement. NZ IFRS 9 uses a single approach to determine whether a financial asset is measured at amortised cost or fair value, replacing the many different rules in NZ IAS 39. The approach in NZ IFRS 9 is based on how an entity manages its financial instruments (its business model) and the contractual cash flow characteristics of the financial assets. The new standard also requires a single impairment method to be used, replacing the many different impairment methods in NZ IAS 39. The new standard is required to be adopted for the year ended 30 June 2014. The Council has not yet assessed the effect of the new standard and expects it will not be early adopted.

SIGNIFICANT ACCOUNTING POLICIES Revenue Revenue is measured at the fair value of consideration received or receivable.

Sale of documents Sales of documents are recognised when the product is sold to the customer.

Contracts for service Contract for service income is initially recorded as income in advance, and recognised as revenue when earned.

Membership subscriptionsMembership subscriptions are recognised on a straight line basis over the period of the subscription.

InterestInterest income is recognised using the effective interest method.

RoyaltiesRoyalty income is recognised on an accrual basis in accordance with the substance of the relevant agreement.

DividendsDividends are recognised when the Council’s right to receive payment is established.



Volunteer servicesThe work of the Council is dependent on many people providing voluntary services towards the development of Standards. Volunteer services received are not recognised as revenue as the Council is unable to reliably measure the fair value of the services rendered.

LEASESOperating leasesLeases that do not transfer substantially all the risks and rewards incidental to ownership of an asset to the Council are classified as operating leases. Lease payments under an operating lease are recognised as an expense on a straight-line basis over the term of the lease in the surplus or deficit.

INCOME TAXThe Council is a public authority and consequently is exempt from the payment of income tax. Accordingly, no charge for income tax has been provided for.

CASH AND CASH EQUIVALENTSCash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of less than 3 months.

DEBTORS AND OTHER RECEIVABLESDebtors and other receivables are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, less any provision for impairment.

Impairment of a receivable is established when there is objective evidence that the Council will not be able to collect amounts due according to the original terms of the receivable. Significant financial difficulties of the debtor, probability that the debtor will enter into bankruptcy, and default in payments are indicators that the debtor is impaired. The amount of the impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted using the original effective interest rate. The carrying amount of the asset is reduced through the use of an allowance account, and the amount of the loss is recognised in the Statement of Financial Performance. When the receivable is uncollectible, it is written-off against the allowance account for receivables. Overdue receivables that have been renegotiated are reclassified as current (that is, not past due).

INVENTORIES – STOCK OF PUBLICATIONS Inventories held for sale on a commercial basis are valued at the lower of cost and net realisable value. The cost of inventory is determined using the weighted average cost method.

The write-down from cost to net realisable value is recognised in the surplus or deficit in the period when the write-down occurs.

INVESTMENTSAt each balance sheet date the Council assesses whether there is any objective evidence that an investment is impaired.

Short-term depositsInvestments in bank deposits are initially measured at fair value plus transaction costs.

After initial recognition investments in bank deposits are measured at amortised cost using the effective interest method.

For bank deposits, impairment is established when there is objective evidence that the Council will not be able to collect amounts due according to the original terms of the deposit. Significant financial difficulties of the bank, probability that the bank will enter into bankruptcy, and default in payments are indicators that the deposit is impaired.



Equity investmentsThe Council designates equity investments at fair value through other comprehensive income. Equity investments are initially measured at fair value plus transaction costs.

After initial recognition these investments are measured at their fair value. The gains and losses of equity investments are recognised in other comprehensive income, except for impairment losses, which are recognised in the surplus or deficit.

On derecognition, the cumulative gain or loss previously recognised in other comprehensive income, is reclassified from equity to the surplus or deficit.

For equity investments classified as fair value through other comprehensive income, a significant or prolonged decline in the fair value of the investment below its cost is considered an indicator of impairment. If such evidence exists for investments at fair value through other comprehensive income, the cumulative loss is measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognised in the surplus or deficit. This cumulative loss, recognised in other comprehensive income is reclassified from equity to the surplus or deficit. Impairment losses recognised in the surplus or deficit are not reversed through the surplus or deficit.

PROPERTY, PLANT, AND EQUIPMENTProperty, plant, and equipment consist of office equipment, computer hardware, leasehold improvements, heating and ventilation, and telephone systems.

Property, plant, and equipment are shown at cost, less any accumulated depreciation and impairment losses.

AdditionsThe cost of an item of property, plant, and equipment is recorded as an asset only when it is probable that future economic benefits or service potential associated with the item will flow to the Council and the cost of the item can be measured reliably.

DisposalsGains and losses on disposals are determined by comparing the proceeds with the carrying amount of the asset. Gains and losses on disposals are reported net in the surplus or deficit.

Subsequent costsCost incurred subsequent to initial acquisition is capitalised only when it is probable that future economic benefits or service potential associated with the item will flow to the Council and the costs of the item can be measured reliably.

The costs of day-to-day servicing of property, plant, and equipment are recognised in the surplus or deficit as they are incurred.

Depreciation Depreciation is provided on a straight-line basis on all property, plant, and equipment at rates that will write-off the cost of the assets to their estimated residual values over their useful lives. The useful lives and associated depreciation rates of major classes of assets have been estimated as follows:

Office equipment 5 – 10 years 10% – 20% Computer hardware 3 years 33.33% Leasehold improvements 3 – 12 years 8.33% – 40% Heating & ventilation 10 – 12 years 8.33% – 10% Telephone systems 3 – 12 years 8.33% – 33.33%

Leasehold improvements are depreciated over the unexpired period of the lease or the estimated remaining useful lives of the improvements, which ever is the shorter.

The residual value and useful life of an asset is reviewed, and adjusted if applicable, at each financial year-end.



INTANGIBLE ASSETSSoftware acquisitionAcquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring to use the specific software.

Cost associated with maintaining computer software is recognised as an expense when incurred.

As the Council’s website will generate economic benefits in the future all external costs associated with the development of software for the Council’s website are recognised as an intangible asset.

Self-funded StandardsThe costs incurred in the development of a Standard in excess of the contracted value for the services, if any, are capitalised as an intangible asset. An intangible asset is only created if it is probable that the asset will generate future economic benefits. The future economic benefit is the revenue expected to be generated from the future sale of the Standard.

Costs that are directly associated with the development of self-funded Standards include external costs, employee costs, and an appropriate portion of relevant overheads.

Amortisation The carrying value of computer software with a finite life is amortised on a straight-line basis over its useful life. The carrying value of a self-funded Standard is amortised on a diminishing value basis over its useful life. Amortisation begins when the asset is available for use and ceases at the date that the asset is derecognised. The amortisation charge for each period is recognised in the surplus or deficit.

The useful lives and associated amortisation rates of major classes of intangible assets have been estimated as follows:

Acquired computer software 3 years 20% – 33.33% SLSelf-funded Standards 50.00% DV

IMPAIRMENT OF NON-FINANCIAL ASSETS Property, plant, and equipment and intangible assets that have a finite useful life are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use.

Value in use is depreciated replacement cost for an asset where the future economic benefits or service potential of the asset are not primarily dependent on the asset’s ability to generate net cash inflows and where the Council would, if deprived of the asset, replace its remaining future economic benefits or service potential.

If an asset’s carrying amount exceeds its recoverable amount, the asset is impaired and the carrying amount is written down to the recoverable amount. The total impairment loss is recognised in the Statement of Financial Performance. The reversal of an impairment loss is recognised in the surplus or deficit.

CREDITORS AND OTHER PAYABLESCreditors and other payables are initially measured at fair value and subsequently measured at amortised cost using the effective interest method.

EMPLOYEE ENTITLEMENTS Short-term employee entitlements Employee entitlements that the Council expects to be settled within 12 months of balance date are measured at undiscounted nominal values based on accrued entitlements at current rates of pay.



These include salaries and wages accrued up to balance date, annual leave earned but not yet taken at balance date, retiring and long service leave entitlements expected to be settled within 12 months, and sick leave.

The Council recognises a liability for sick leave to the extent that compensated absences in the coming year are expected to be greater than the sick leave entitlements earned in the coming year. The amount is calculated based on the unused sick leave entitlement that can be carried forward at balance date, to the extent that the Council anticipates it will be used by staff to cover those future absences.

The Council recognises a liability and an expense for bonuses where it is contractually obliged to pay them, or where there is a past practice that has created a constructive obligation.

Long-term employee benefitsEntitlements that are payable beyond 12 months, such as long service leave and retiring leave, have been calculated on an actuarial basis.

The calculations are based on:

• likely future entitlements accruing to staff, based on years of service, years to entitlement, the likelihood that staff will reach the point of entitlement, and contractual entitlements information; and

• the present value of the estimated future cash flows.

The discount rate is based on the weighted average of interest rates for government stock with terms to maturity similar to those of the relevant liabilities. The inflation factor is based on the expected long-term increase in remuneration for employees.

SUPERANNUATION SCHEMES Defined contribution schemes Obligations for contributions to KiwiSaver are accounted for as a defined contribution superannuation scheme and are recognised as an expense in the surplus or deficit as incurred.

PROVISIONS The Council recognises a provision for future expenditure of uncertain amount or timing when there is a present obligation (either legal or constructive) as a result of a past event, it is probable that expenditures will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

FOREIGN CURRENCY TRANSACTIONS Foreign currency transactions are translated into New Zealand dollars using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the surplus or deficit.

GOODS AND SERVICES TAX (GST)All items in the financial statements, are stated exclusive of GST, except for receivables and payables, which are stated on a GST inclusive basis. Where GST is not recoverable as input tax, then it is recognised as part of the related asset or expense.

The net amount of GST recoverable from, or payable to, the Inland Revenue Department (IRD) is included as part of receivables or payables in the Statement of Financial Position.

The net GST paid to, or received from the IRD, including the GST relating to investing and financing activities, is classified as an operating cash flow in the Statement of Cash Flows.

Commitments and contingencies are disclosed exclusive of GST.



BUDGET FIGURESThe budget figures are derived from the Statement of Intent as approved by the Council at the beginning of the financial year. The budget figures have been prepared in accordance with NZ IFRS, using accounting policies that are consistent with those adopted by the Council for the preparation of the financial statements.

CRITICAL ACCOUNTING ESTIMATES AND ASSUMPTIONSIn preparing these financial statements the Council has made estimates and assumptions about the future. These estimates and assumptions may differ from the subsequent actual results. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

Leasehold restoration provisionAn analysis of the Council’s exposure surrounding the leasehold restoration provision is disclosed in Note 14.

Retirement and long service leaveNote 13 provides an analysis of the exposure in relation to estimates and uncertainties surrounding retirement and long service leave liabilities.

Property, plant, and equipment – useful lives and residual valuesWe have reviewed the useful lives and residual value of the property, plant, and equipment.

Assessing the appropriateness of useful life and residual value estimates of property, plant, and equipment requires the Council to consider a number of factors such as the physical condition of the asset, expected period of use of the asset by the Council, and expected disposal proceeds from the future sale of the asset.

An incorrect estimate of the useful life or residual value will impact on the depreciation expense recognised in the surplus or deficit, and carrying amount of the asset in the Statement of Financial Position.

The Council minimises the risk of this estimation uncertainty by:

• physical inspection of assets, and• asset replacement programmes.

The Council has not made significant changes to past assumptions concerning useful lives and residual values.

The carrying amounts of property, plant, and equipment are disclosed in Note 10.

Intangible assets – useful lives and residual values At each balance date the Council reviews the useful lives and residual value of its intangible assets, computer software, and self-funded Standards.

Assessing the appropriateness of useful life and residual value estimates of intangible assets requires the Council to consider a number of factors such as the expected period of use of the intangible asset by the Council, and the expected future economic benefit of the intangible asset.

An incorrect estimate of the useful life or residual value will impact the amortisation expense recognised in the surplus or deficit, and carrying amount of the intangible asset in the Statement of Financial Position.

The Council has not made significant changes to past assumptions on useful lives, amortisation rates, and residual values.

The carrying amounts of intangible assets are disclosed in Note 11.



2 LOSSES(GAINS)

2010 2009

$ $

Net loss/(gain) on disposal of office equipment 5,783 595

Net loss/(gain) on disposal of computer equipment 0 (89)

Net loss/(gain) on write-off of self-funded Standards 9,926 0

Net foreign exchange loss/(gain) (750) 6,207

Total losses/(gains) 14,959 6,713

3 PERSONNEL EXPENSES

2010 2009

$ $

Salaries and wages 3,781,992 4,176,395

Employer contributions to defined contribution plans 52,328 50,606

Increase/(decrease) in employee entitlements (Note 13) 19,699 (165,768)

Total personnel expenses 3,854,019 4,061,233

Employer contributions to defined contribution plans include contributions to KiwiSaver.

4 OTHER OPERATING EXPENSES

2010 2009

$ $

Inventories consumed 716,499 661,120

Contracts for service external costs 319,967 400,692

Other staff-related costs 166,349 192,926

Marketing and publicity 176,305 161,920

Other costs 1,045,935 1,069,573

Total other operating expenses 2,425,055 2,486,231

5 FEES PAID TO AUDITORS

2010 2009

$ $

Audit fees for financial statement audit 26,499 26,318

Total fees paid to auditors 26,499 26,318



6 DEBTORS AND OTHER RECEIVABLES

2010 2009

$ $

Debtors and other receivables 1,145,598 1,213,450

Less provision for impairment 0 0

Total debtors and other receivables 1,145,598 1,213,450

The carrying value of receivables approximates their fair value.

As at 30 June 2010 and 2009, all overdue receivables have been assessed for impairment and appropriate provisions applied, as detailed below:

2010 2009

$ $

Gross Impairment Net Gross Impairment Net

Not past due 985,671 0 985,671 910,547 0 910,547

Past due 1-30 days 67,486 0 67,486 277,704 0 277,704

Past due 31-60 days 96,197 0 96,197 24,335 0 24,335

Past due 61-90 days (3,756) 0 (3,756) 714 0 714

Past Due > 91 days 0 0 0 150 0 150

Total 1,145,598 0 1,145,598 1,213,450 0 1,213,450

At year end the provision for impairment of receivables is nil (2009:nil)

Movements in the provision for impairment of receivables are as follows:

2010 2009

$ $

Balance at 1 July 0 0

Additional provisions made during the year 598 227

Receivables written-off during the period (598) (227)

Balance at 30 June 0 0



7 INVENTORIES – STOCK OF PUBLICATIONS

2010 2009

$ $

Publications held for sale 71,060 75,370

Total inventories 71,060 75,370

The write-down of commercial inventories amounted to $15,232 (2009 $18,211).

There have been no reversals of write-downs.

No inventories are pledged as security for liabilities; however some inventories are subject to retention of title clauses.

8 INVESTMENTS – SHORT-TERM DEPOSITSInvestments - short-term deposits are represented by short-term deposits which have maturities of 3 months or greater from date of acquisition.

There were no impairment provisions for short-term deposits.

Maturity analysis and effective interest rates of short-term depositsThe maturity dates and weighted average effective interest rates for short-term deposits are as follows:

2010 2009

$ $

Short-term deposits with maturities of 3-12 months 2,368,582 2,736,387

Average maturity 163 days 158 days

Weighted average effective interest rates 4.76% 4.24%

The carrying amounts of short-term deposits with maturities less than 12 months approximate their fair value.

Short-term deposits are invested at fixed rates ranging from 4.50% to 5.00%. As these deposits are at a fixed interest rate and measured at amortised cost, an increase or decrease in interest rates during the period would not impact on the surplus or deficit, or equity.

9 INVESTMENT – SHARESThe fair value of equity investments is determined by reference to published price quotations in an active market.

Original Cost Fair Value

$ $

2010 – SAI Global Ltd - 266 ordinary shares 615 1,315

2009 – SAI Global Ltd - 266 ordinary shares 615 943



10 PROPERTY, PLANT, AND EQUIPMENTMovements for each class of property, plant, and equipment are as follows:

Officeequipment

Computer hardware

Leaseholdimprovements

Heating & ventilation

Telephonesystems Total

Cost

Balance at 1 July 2008 380,322 653,809 459,564 58,280 91,209 1,643,184

Additions 1,332 50,329 7,190 0 0 58,851

Disposals (7,693) (9,833) 0 0 0 (17,526)

Balance at 30 June 2009 373,961 694,305 466,754 58,280 91,209 1,684,509

Balance at 1 July 2009 373,961 694,305 466,754 58,280 91,209 1,684,509

Additions 4,774 10,055 10,379 0 0 25,208

Disposals (18,433) (43,491) 0 0 0 (61,924)

Balance at 30 June 2010 360,302 660,869 477,133 58,280 91,209 1,647,793

Accumulated depreciation and impairment losses

Balance at 1 July 2008 292,280 604,668 382,955 53,485 89,445 1,422,833

Depreciation expense 22,355 39,637 21,550 1,183 629 85,354

Eliminate on disposal (6,679) (9,833) 0 0 0 (16,512)

Impairment losses 0 0 0 0 0 0

Balance at 30 June 2009 307,956 634,472 404,505 54,668 90,074 1,491,675

Balance at 1 July 2009 307,956 634,472 404,505 54,668 90,074 1,491,675

Depreciation expense 21,518 36,980 22,690 1,184 518 82,890

Eliminate on disposal (12,650) (43,491) 0 0 0 (56,141)

Impairment losses 0 0 0 0 0 0

Balance at 30 June 2010 316,824 627,961 427,195 55,852 90,592 1,518,424

Carrying amounts

At 1 July 2008 88,042 49,141 76,609 4,795 1,764 220,351

At 30 June and 1 July 2009 66,005 59,833 62,249 3,612 1,135 192,834

At 30 June 2010 43,478 32,908 49,938 2,428 617 129,369



11 INTANGIBLE ASSETSMovements for each class of intangible asset are as follows:

Acquiredcomputersoftware

Work in progresscomputersoftware

Self-fundedStandards

Work in progress

self-funded Standards

Total

Cost

Balance at 1 July 2008 1,506,301 0 859,139 79,291 2,444,731

Additions 186,702 0 99,956 1,785 288,443

Disposals (70,416) 0 0 0 (70,416)

Balance at 30 June 2009 1,622,587 0 959,095 81,076 2,662,758

Balance at 1 July 2009 1,622,587 0 959,095 81,076 2,662,758

Additions 195,963 337,947 0 234,309 768,219

Disposals (356,556) 0 (142,731) 0 (499,287)

Balance at 30 June 2010 1,461,994 337,947 816,364 315,385 2,931,690

Accumulated amortisation and impairment losses

Balance at 1 July 2008 1,331,430 0 632,468 0 1,963,898

Amortisation expense 170,803 0 151,975 0 322,778

Eliminate on disposal (70,416) 0 0 0 (70,416)

Impairment losses 0 0 0 0 0

Balance at 30 June 2009 1,431,817 0 784,443 0 2,216,260

Balance at 1 July 2009 1,431,817 0 784,443 0 2,216,260

Amortisation expense 95,325 0 87,312 0 182,637

Eliminate on disposal (356,556) 0 (132,805) 0 (489,361)

Impairment losses 0 0 0 0 0

Balance at 30 June 2010 1,170,586 0 738,950 0 1,909,536

Carrying amounts

At 1 July 2008 174,871 0 226,671 79,291 480,833

At 30 June and 1 July 2009 190,770 0 174,652 81,076 446,498

At 30 June 2010 291,408 337,947 77,414 315,385 1,022,154

There are no restrictions over the title of the Council’s intangible assets, nor are any intangible assets pledged as security for liabilities.



12 CREDITORS AND OTHER PAYABLES

2010 2009

$ $Creditors 394,172 281,639

Accrued expenses 197,847 180,090

GST payable 54,990 90,726

Total creditors and other payables 647,009 552,455

Creditors and other payables are non-interest bearing and are normally settled on 30-day terms. Therefore the carrying value of creditors and other payables approximates their fair values.

13 EMPLOYEE ENTITLEMENTS

2010 2009

$ $

Current employee entitlements

Annual leave 261,346 225,550

Sick leave 14,052 7,722

Long service leave 8,624 19,373

Incentives and other salary accruals 280,572 270,975

Total current portion 564,594 523,620

Non-current employee entitlements

Long service leave 45,310 35,307

Retirement leave 67,996 99,274

Total non-current portion 113,306 134,581

Total employee entitlements 677,900 658,201

The present value of the retirement and long service leave obligations depend on a number of factors that are determined on an actuarial basis using a number of assumptions. Two key assumptions used in calculating this liability include the discount rate and the salary inflation factor. Any changes in these assumptions will impact on the carrying amount of the liability.

In determining the appropriate discount rate the Council considered the interest rates on NZ government bonds which have terms to maturity that match, as closely as possible, the estimated future cash outflows. The salary inflation factor has been determined after considering historical salary inflation patterns.

The following weighted average discount rates were used: year 1: 3.48%, year 2: 4.45%, and year 3 onwards: 6.00% (2009: year 1: 3.01%, year 2: 3.82%, and year 3 onwards: 5.96%).

The following inflation factors were used: year 1: 2.00%, and year 2 onwards: 3.50% (2009: year 1: 0.00%, and year 2 onwards: 3.50%).



14 PROVISIONS

2010 2009

$ $

Lease make-good

Current provision 0 0

Non-current provision 133,000 133,000

Total provisions 133,000 133,000

The movement in the lease make-good provision in the current year is nil (2009:nil).

The Council is required to make good the premises it leases at the expiry of the lease term, which is 30 October 2018, however it can vacate the premises at the lease renewal date of 30 October 2012. In reporting the restoration liability the Council has assumed it will vacate and make good the premises at the lease renewal date of 30 October 2012.

15 EQUITY

2010 2009

$ $

General funds

Balance at 1 July 2,935,391 2,739,380

Surplus 162,337 196,011

Balance at 30 June 3,097,728 2,935,391

Other reserves

Financial assets at fair value through other comprehensive income

Balance at 1 July 329 165

Revaluations 372 164

Balance at 30 June 701 329

Total equity at 30 June 3,098,429 2,935,720



16 RECONCILIATION OF NET SURPLUS/(DEFICIT) TO NET CASH FROM OPERATING ACTIVITIES

2010 2009

$ $

Surplus 162,337 196,011

Add/(less) non cash items:

Depreciation and amortisation expense 265,527 408,132

Stock of publications written-off 15,232 18,211

Increase/(decrease) in non-current employee entitlements (21,275) 4,774

Total non-cash items 259,484 431,117

Add/(less) items classified as investing or financing activities:

Net loss (gain) on sale & write-off of fixed assets 15,709 506

Total items classified as investing or financing activities 15,709 506

Add/(less) movements in working capital items:

Decrease/(increase) in debtors and other receivables 67,852 403,129

Decrease/(increase) in prepayments (34,595) 564

Decrease/(increase) in stock of publications (10,921) 40,789

(Decrease)/increase in creditors and other payables 112,914 (97,089)

(Decrease)/increase in employee entitlements 40,974 (170,542)

(Decrease)/increase in income in advance (225,281) (106,902)

Net movements in working capital items (49,057) 69,949

Net cash from operating activities 388,473 697,583



17 CAPITAL COMMITMENTS AND OPERATING LEASES

2010 2009

$ $

Capital commitments

Property, plant, and equipment 0 0

Intangible assets 132,343 0

Total capital commitments 132,343 0

The Council is in the process of replacing its core management information system. Stage 1 - fit gap commenced February 2010. The planned deployment is February 2011. As at balance date capital payments of $337,947 had been made for stage 1 - fit gap, initial licensing, and commencement of stage 2 - design. At balance date a further $132,343 was contractually committed to complete stage 2 - design phase.

Operating leases as lesseeThe future aggregate minimum lease payments to be paid under non-cancellable operating leases are as follows:

2010 2009

$ $

Not later than 1 year 344,323 343,375

Later than one year and not later than 5 years 459,098 801,209

Later than 5 years 0 0

Total non-cancellable operating leases 803,421 1,144,584

The total non-cancellable operating lease expense relates to the lease of the Council’s office building. The lease expires in October 2018, with an option to vacate the premises at the lease renewal date of October 2012. The Council has assumed it will vacate the premises at the lease renewal date of October 2012. The Council does not have the option to purchase the asset at the end of the lease term.

There are no restrictions placed on the Council by any of its leasing arrangements.



18 CONTINGENCIESContingent liabilitiesThe Council has no contingent liabilities as at 30 June 2010 (2009: $Nil).

Contingent assets The Council has no contingent assets as at 30 June 2010 (2009: $Nil).

19 RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT PERSONNEL

Related party transactionsThe Council is a wholly-owned entity of the Crown.

The Council enters into transactions with government departments, state-owned enterprises, and other Crown entities. Those transactions that occur within a normal supplier or client relationship on terms and conditions no more or less favourable than those which it is reasonable to expect the Council would have adopted, if dealing with that entity at arm’s length in the same circumstances, have not been disclosed as related party transactions.

The following transactions were carried out with related parties other than those described above.

All related party transactions have been entered into on an arms length basis.



The aggregate value of the transactions and outstanding balances relating to key management personnel and entities over which they have control or significant influence were as follows:

Transaction value year ended 30 June

Balance outstanding year ended 30 June

2010 2009 2010 2009

Key personnel Transaction Ref $ $ $ $

Richard Westlake Kiwibank Ltd - Interest income i 38,647 56,229 5,745 14,234

Richard Westlake Kiwibank Ltd - Short-term deposits i 739,119 881,981

Richard Westlake Kiwibank Ltd - Trading income i 5,208 0 0 0

Vaughan Renner Wellington Institute of Technology ii 38,351 40,428 436 0

Carol Stigley National Library of New Zealand iii 25,244 25,324 0 320

Vaughan Renner/ Richard Westlake NZ Defence Force iv 25,864 23,898 0 176

Debbie Chin Hutt Valley District Health Board v 9,465 43,348 84 8,588

Tom Campbell The Todd Corporation Ltd vi 9,084 13,792 0 279

Richard Gibbons Electricity Engineers’ Association vii 8,973 11,633 (150) 2,250

Vaughan Renner Holmes Consulting Group Ltd viii 6,513 6,462 5,972 5,555

Sharon Kletchko Nelson Marlborough District Health Board ix 4,004 5,644 2,418 191

Richard Westlake Intergen Ltd x 199,091 0 0 0

Microsoft New Zealand Ltd xi 172,159 0 23,178 0

Michael Wallmannsberger ASB Bank Ltd xii 23,061 23,257 2,218 1,970

Vaughan Renner Employers and Manufacturers’ Association Central xiii 13,402 12,905 0 0

Richard Gibbons Electricity Engineers’ Association xiv 11,670 5,063 0 0



(i) Interest on short-term deposits and trading income from Kiwibank Ltd, of which Richard Westlake is a Director and Chair of Finance, Audit and Risk Committee, was earned in 2010 and 2009 on normal commercial terms.

(ii) Trading income from Wellington Institute of Technology, of which Vaughan Renner is a Council Member, was earned in 2010 and 2009 on normal commercial terms.

(iii) Trading income from National Library of New Zealand, of which Carol Stigley is Chair of Risk and Assurance Committee, was earned in 2010 and 2009 on normal commercial terms.

(iv) Trading income from NZ Defence Force, of which Vaughan Renner is a member of NZDF – Army Support Management Board and Richard Westlake is a member of the Royal New Zealand Air Force Leadership Board, was earned in 2010 and 2009 on normal commercial terms.

(v) Trading income from Hutt Valley District Health Board, of which Debbie Chin is a board member – Crown Monitor, was earned in 2010 and 2009 on normal commercial terms.

(vi) Trading income from The Todd Corporation Ltd, of which Tom Campbell is a board member, was earned in 2010 and 2009 on normal commercial terms.

(vii) Trading income from Electricity Engineers’ Association, of which Richard Gibbons is a board member, was earned in 2010 and 2009 on normal commercial terms.

(viii) Trading income from Holmes Consulting Group Ltd, of which Vaughan Renner is a past Director, was earned in 2010 and 2009 on normal commercial terms.

(ix) Trading income from Nelson Marlborough District Health Board, of which Sharon Kletchko is General Manager, was earned in 2010 and 2009 on normal commercial terms.

(x) Capital purchases and services from Intergen Ltd, of which Richard Westlake is a Director, were made in 2010 on normal commercial terms.

(xi) Capital purchases and services from Microsoft New Zealand Ltd, which is not a related party, were made in 2010 on normal commercial terms. Microsoft New Zealand Ltd have engaged Intergen Ltd as its chosen working partner for stage 1 and 2 of the replacement of the Council’s core management information system.

(xii) Purchase of services from ASB Bank Ltd, of which Michael Wallmannsberger is an employee, were made in 2010 and 2009 on normal commercial terms.

(xiii) Purchase of services from Employers and Manufacturers’ Association Central, of which Vaughan Renner is a board member, were made in 2010 and 2009 on normal commercial terms.

(xiv) Purchase of services from Electricity Engineers’ Association, of which Richard Gibbons is a board member, were made in 2010 and 2009 on normal commercial terms.

No provision has been required, nor any expense recognised for impairment of receivables from related parties (2009 $nil).



Key management personnel compensation2010 2009

$ $

Council fees 117,200 129,700

Salaries and other short-term benefits 921,076 1,078,572

Termination benefits 0 68,828

Total key management personnel compensation 1,038,276 1,277,100

Key management personnel includes all Council members, the Chief Executive, and the salaries paid for those fulfilling the positions on the senior management team during the period.

20 COUNCIL FEESThe total value of fees paid or payable to each Council member during the year was:

2010 2009

$ $

Richard Westlake (Chair) 25,000 25,000

Sharon Kletchko (Deputy Chair) 14,500 12,000

John Albertson (Resigned December 2008) 0 7,500

Tom Campbell (Appointed May 2010) 1,500 0

Richard Gibbons 12,000 12,000

John Hannah 12,150 12,000

Vivian Kloosterman 12,000 12,000

Ellen Ramsay (Resigned September 2009) 3,000 12,000

Vaughan Renner 12,000 12,000

Fay Sowerby (Appointed May 2010) 1,500 0

Carol Stigley (Completed term May 2010) 11,550 13,200

Michael Wallmannsberger 12,000 12,000

Total Council fees 117,200 129,700

There have been no payments made to Council appointed committee members who were not Council members during the financial year.

The Council has effected professional indemnity insurance cover during the financial year to cover the liability or costs of Council members and employees.



21 EMPLOYEE REMUNERATIONThe number of employees who received remuneration and other benefits of $100,000 or more during the financial year, shown in $10,000 bands.

Total remuneration paid or payable. 2010 2009

100,000 – 110,000 1 0

110,000 – 120,000 2 2

120,000 – 130,000 2 3

130,000 – 140,000 0 1

140,000 – 150,000 0 1

150,000 – 160,000 2 1

160,000 – 170,000 2 1

170,000 – 180,000 1 0

260,000 – 270,000 1 0

300,000 – 310,000 0 1

Total employees 11 10

During the year ended 30 June 2010, 6 (2009: 4) employees were paid or payable compensation and other benefits, (including redundancy and retirement payments), in relation to cessation totalling $170,181 (2009: $129,613).

22 EVENTS AFTER BALANCE SHEET DATEThere were no significant events after balance sheet date.



23 CATEGORIES OF FINANCIAL INSTRUMENTS

2010 2009

$ $

Loans and receivables

Cash and cash equivalents 572,438 627,947

Debtors and other receivables (Note 6) 1,145,598 1,213,450

Investments - short-term deposits (Note 8) 2,368,582 2,736,387

Total loans and receivables 4,086,618 4,577,784

Financial assets at fair value through other comprehensive income

Investment – shares (Note 9) 1,315 943

Financial liabilities measured at amortised cost

Creditors and other payables (Note 12) 647,009 552,455

24 FINANCIAL INSTRUMENT RISKSThe Council’s activities expose it to a variety of financial instrument risks, including market risk, credit risk, and liquidity risk.

The Council has a series of policies to manage the risks associated with financial instruments and seeks to minimise exposure from financial instruments. These policies do not allow any transactions that are speculative in nature to be entered into.

MARKET RISKThe interest rates on the Council’s investments are disclosed in Note 8.

Fair value interest rate riskFair value interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. The Council’s exposure to fair value interest rate risk is limited to short-term deposits which are held at fixed rates of interest.

Currency riskCurrency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Council has no significant exposure to currency risk.



CREDIT RISKCredit risk is the risk that a third party will default on its obligations to the Council, causing the Council to incur a loss.

In the normal course of business, credit risk arises from deposits with banks and accounts receivables.

The Council has short-term deposits with registered banks. The Council’s investment policy limits investments to registered banks with satisfactory credit ratings and New Zealand Government Stock. The Council’s investment policy limits the amount of credit exposure to any one institution.

The Council allows credit facilities to its members and contracts for service customers. The Council has processes in place to review the credit quality of other customers prior to granting of credit.

The Council’s maximum credit exposure for each class of financial instruments is represented by the total carrying amount of cash and cash equivalents, net debtors (Note 6), and investments (Note 8, 9). There is no collateral held as security against these financial instruments, including those instruments that are overdue or impaired.

The Council has no significant concentrations of credit risk, as it has a large number of credit customers and only invests funds with registered banks with specified credit ratings.

Liquidity riskLiquidity risk is the risk that the Council will encounter difficulty raising liquid funds to meet commitments as they fall due.

In meeting its liquidity requirements, the Council invests in short-term deposits.

The maturity profiles of the Council’s interest bearing investments are disclosed in Note 8.

25 CAPITAL MANAGEMENT The Council’s capital is its equity, which comprises accumulated funds and other reserves. Equity is represented by net assets.

The Council is subject to the financial management and accountability provisions of the Crown Entities Act 2004, which imposes restrictions in relation to borrowings, acquisition of securities, issuing guarantees and indemnities, and the use of derivatives.

The Council manages its equity as a by-product of prudently managing revenues, expenses, assets, liabilities, investments, and general financial dealings to ensure the Council effectively achieves its objectives and purpose, while remaining a going concern.



26 EXPLANATION OF SIGNIFICANT VARIANCES AGAINST BUDGETExplanations for significant variations from the Council’s budgeted figures in the 2009/2010 Statement of Intent are as follows:

STATEMENT OF COMPREHENSIVE INCOME IncomeTrading income of $7,214,049 was $682,696 less than budget because of:

– lower contracts for service revenue (of $723,000) reflecting the ongoing cuts in State sector expenditure, and the continued negative flow-on in many key sectors from the global economic crisis.

ExpenditureExpenditure of $7,051,712 was $842,066 less than budget because of:

– personnel expenses of $3,854,019 were $239,000 less than budget due to delays in recruiting vacant positions – contracts for service external costs of $319,967 were $180,000 less than budget due to lower contracts for service

revenue– the balance is made up of savings in other expenditure due to overheads being tightly managed.

STATEMENT OF FINANCIAL POSITIONAssetsCash and cash equivalents of $572,438 was $211,419 above budget due to the higher surplus.

Intangible assets of $1,022,154 was $320,170 lower than budget due to the timing of the recognition of the purchase of the core management information system.

LiabilitiesCreditors and other payables of $647,010 was $404,045 below budget due to the timing of the recognition of the purchase of the core management information system.

STATEMENT OF CHANGES IN EQUITYTotal comprehensive income Total comprehensive income for the year was $162,709, compared to a budget of $2,967, due to a higher surplus. The budget variance is explained in the Statement of Comprehensive Income above.

STATEMENT OF CASH FLOWSCash flows from operating activitiesReceipts from customers were $890,403 below budget and payments to suppliers and employees were $984,722 below budget due to the budget variances explained in the Statement of Comprehensive Income above.







Matters Relating to the Electronic Presentation of the Audited Financial Statements and Statement of Service Performance

This audit report relates to the financial statements and statement of service performance of the Standards Council for the year ended 30 June 2010 included on the Standards Council’s website. The Standards Council’s Governing Body is responsible for the maintenance and integrity of the Standards Council’s website. We have not been engaged to report on the integrity of the Standards Council’s website. We accept no responsibility for any changes that may have occurred to the financial statements and statement of service performance since they were initially presented on the website.

The audit report refers only to the financial statements and statement of service performance named above. It does not provide an opinion on any other information which may have been hyperlinked to or from the financial statements and statement of service performance. If readers of this report are concerned with the inherent risks arising from electronic data communication they should refer to the published hard copy of the audited financial statements and statement of service performance and related audit report dated 23 September 2010 to confirm the information included in the audited financial statements and statement of service performance presented on this website.

Legislation in New Zealand governing the preparation and dissemination of financial information may differ from legislation in other jurisdictions.

STANDARDS COUNCIL ANNUAL REPORT 201052 STANDARDS COUNCIL ANNUAL REPORT 2010

STANDARDS COUNCILThe Standards Council was established by the Standards Act 1988. At 30 June 2010 the membership of the Council was:

CHAIR APPOINTED – CURRENT TERMRichard Westlake September 2006 Appointed by the Minister of Commerce

MEMBERSTom Campbell May 2010 Nominated by the Minister of Commerce

Richard Gibbons May 2006 Nominated by the Electricity Engineers’ Association New Zealand

John Hannah (Chair of Audit and Risk Subcommittee) May 2008 Nominated by the New Zealand Vice-Chancellors’ Committee

Sharon Kletchko September 2006 Appointed by the Minister of Commerce

Vivian Kloosterman May 2008 Nominated by the Institution of Professional Engineers New Zealand

Vaughan Renner (Chair of Strategy Subcommittee) May 2008 Nominated by Business New Zealand

Fay Sowerby May 2010 Nominated by the Minister of Commerce

Michael Wallmannsberger (Chair of Information Systems Strategic Plan Subcommittee) May 2008 Nominated by the Council of Trade Unions

STANDARDS NEW ZEALANDDebbie Chin Chief Executive

Cas Cinque General Manager Solutions

Rob Warner General Manager Strategic Development and Innovation

Shona Weller General Manager Customer Services and Sales

Michelle Wessing General Manager Corporate Services


Published September 2010 by Standards New ZealandRadio New Zealand HouseLevel 10, 155 The TerraceWellington 6011

Private Bag 2439Wellington 6140

ISBN: 978-1-86972-145-6

Consider not just what

you gain from

standardisation…think

about what you

lose without it.

Protecting People

The roof over your head

Assuring Quality

Live longer

Economic Growth

Help boost GDP

Better/Less Regulation

Comply with legislation

Shaping The Future

Reach tomorrow safely

Think fast

Business Advantage

Feed the innovation machine

Driving Innovation

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Environmental Sustainability

Documents

STANDARDS COUNCIL ANNUAL REPORT...Hon Maurice Williamson (in Auckland), Hon Lianne Dalziel (in Wellington), and Hon Pansy Wong (in Christchurch) presented the awards. Standards New