TO THE MEMBERS OF REUNERT LIMITED
We have audited the accompanying company and group
annual financial statements of Reunert Limited, which
comprise the directors’ report, the balance sheets
as at 30 September 2009, and the income statements,
statements of changes in equity and cash flow statements
for the year then ended, a summary of significant
accounting policies and other explanatory notes as
set out here and
the segmental analysis set out here.
Directors’ responsibility for the financial statements
The company’s directors are responsible for the preparation
and fair presentation of these financial statements
in accordance with International Financial Reporting
Standards, and in the manner required by the Companies
Act of South Africa. This responsibility includes:
designing, implementing and maintaining internal control
relevant to the preparation and fair presentation of
financial statements that are free from material misstatement,
whether due to fraud or error; selecting and applying
appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.
Auditors’ responsibility
Our responsibility is to express an opinion on these
financial statements based on our audit. We conducted
our audit in accordance with International Standards
on Auditing. Those standards require that we comply
with ethical requirements and plan and perform the
audit to obtain reasonable assurance whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend
on the auditor’s judgement, including the assessment
of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal
control relevant to the entity’s preparation and fair
presentation of the financial statements in order to
design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the entity’s internal
control. An audit also includes evaluating the appropriateness
of accounting principles used and the reasonableness
of accounting estimates made by the directors, as well
as evaluating the overall financial statement presentation.
We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for
our audit opinion.
Opinion
In our opinion, the financial statements fairly present,
in all material respects, the financial position of
the company and the group at 30 September 2009, and
of their financial performance and their cash flows
for the year then ended in accordance with International
Financial Reporting Standards, and in the manner required
by the Companies Act of South Africa.
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