Explain how performance reporting by public bodies to the public is conditioned not only by their specific activities and how these are funded but also by their broader policy purposes, which are socio-economic and political.

Also discuss the extent to which the statement of service performance in the annual reports of public bodies performs the equivalent function to that performed by the income statement in the annual reports of private companies listed on a stock exchange. Your discussion should allude to the functions of other statements that these reports include.

Dear Tutor, This question should relate to New Zealand Government. Around 1000 words