Statement of Accounting Policies
The Ministry of Fisheries is a Government Department as defined by section 2 of the Public Finance Act 1989.
These financial statements have been prepared pursuant to section 45 of the Public Finance Act. In addition, the Ministry has reported activity undertaken on behalf of the Crown and trust monies which it administers.
The general accounting principles recognised as appropriate for the measurement and reporting of financial performance and financial position on an historical cost basis, modified by the revaluation of certain property, plant and equipment, have been followed.