(a) (b) D is Australia Post’s benchmark gearing ratio V E is Australia Post’s benchmark equity ratio V (c) γ is the imputation factor (d) Te is the effective tax rate (e) re is the rate of return on equity (f) rd is the rate of return on debt (4) In preparing the Statement of WACC: (a) the rate of return on equity ( re ) is determined according to the following formula: re = rf + βe (r − rf ) where: i) rf is the risk-free rate-of-return, is the rate on government bonds ii) βe is the equity beta, is the degree of correlation between a particular asset's earnings and those of the market in general and is determined using the following formula: β = β + (β − β − rd − γ )T D e a a d 1 + r e E d where: βe is the equity beta βa is the asset beta βd is the debt beta γ is the imputation factor Te is the effective tax rate rd is the return on debt; and D is the debt to equity ratio. E
(c) the audit reporting requirements; and (d) a timetable for the audit reporting requirements. (5) The objectives of the audit must include determining whether the Reports required under these Rules are prepared in accordance with the requirements of the Rules. 26. Content of The audit report must include an expression of opinion as to whether Australia Post has complied with the Rules and, if necessary, details of any shortcomings in, or limitations in identifying, compliance. 27. Audit reporting requirements to the ACCC When lodging reports in accordance with Rule 19 Australia Post must provide to the ACCC a copy of: (a) the audit terms of reference provided to the independent auditor pursuant to Rule 25 (b) the report of the independent auditor.
Schedule 2: Statement of Financial Performance Revenue items (as per Schedule 3) Cost items (as per Schedule 4) Service Group Profit (Revenue – Costs) Total Reserved Services (as per Schedule 1(a)) Service 1 Direct Attributable Unattributable Service Group 2 … n Direct Attributable Unattributable Total Total Reserved Services Direct Attributable Unattributable Total Reserved Services reconciliation to Group Statutory Accounts. Non-reserved Services (as per Schedule 1(b)) Service Group 1 Direct Attributable Unattributable Service Group 2 … n Direct Attributable Unattributable Total Total Unreserved Services Direct Attributable Unattributable Total Total Regulatory Account Total Direct Attributable Unattributable Non-reserved services reconciliation to Group Statutory Accounts Total Reconciliation Group Statutory Accounts
Schedule 5: Statement of Capital Employed Non-Current Assets (as per Schedule 6) Total Reserved Services (as per Schedule 1(a)) Service 1 Direct Attributable Unattributable Total Service Group 2 … n Direct Attributable Unattributable Total Total Reserved Services Direct Attributable Unattributable Total Unreserved Services (as per Schedule 1(b)) Service Group 1 Direct Attributable Unattributable Total Service Group 2 … n Direct Attributable Unattributable Total Total Unreserved Services Direct Attributable Unattributable Total Regulatory Account Total Direct Attributable Unattributable Total Total Reconciliation Deconsolidation Adjustments Statutory Accounts 27
Schedule 7: Statement of Movements in Non-Current Values Opening (1) Acquisitions (2) Retirements (3) Transfer (4) Revaluations (5) Depreciation (6) Closing (7) Reserved Services Asset class 1 Net book value Asset class 2 … n Net book value TOTAL RESERVED NON-CURRENT ASSETS Net book Non-reserved Services Asset class 1 Net book value Asset class 2 … n Net book value TOTAL NON-RESERVED NON- CURRENT ASSETS Net book value TOTAL NON-CURRENT ASSETS Net book value Notes: Closing (7) = the opening net asset value (1), plus the value of acquisitions (2), less the value of retirements (3), plus (or less, as applicable) the value of transfers (4) and revaluations (5), and less the value of depreciation (6).
Schedule 9: Statement of Service Group Usage Schedule 9(a): Statement of Service Usage—Reserved Services Service Group Usage levels or volumes to be reported Letters Ordinary number of small, ordinary letters carried. Small Letters Pre-sort Total number of small, pre-sorted, letters carried. Large Letters Ordinary Total number of large, ordinary letters carried. Large Letters Pre-sort Total number of large, pre-sorted letters carried. International Inward number of incoming international letters carried.