Notes to the financial statements |

5. Other expenses

Accounting policy

Scholarships

Scholarships awarded by Te Wānanga o Aotearoa that reduce the amount of tuition fees payable by the student are accounted for as an expense and not offset against student tuition fees revenue.

Operating leases

An operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an asset to the lessee. Lease payments under an operating lease are recognised as an expense on a straight-line basis over the lease term. Lease incentives received are recognised in the surplus/(deficit) as a reduction of rental expense over the lease term.

*The fees paid to audit firms for internal audits were for planning and undertaking internal audits.