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REPORT OF the independent auditors    
Private Bag X6
Gallo Manor 2052
South Africa
  Deloitte & Touche
Registered Auditors
Audit – Johannesburg
Buildings 1 and 2
Deloitte Place
The Woodlands
Woodlands Drive
Woodmead Sandton
Docex 10 Johannesburg

Tel:  +27 (0)11 806 5000
Fax: +27 (0)11 806 5111
We have audited the accompanying company and group annual financial statements of Reunert Limited, which comprise the balance sheet as at 30 September 2007, and the income statement, statement of changes in equity and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory notes as set out in the financial statements and the segmental analysis.

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.
Auditor’s 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.



In our opinion, the financial statements fairly present, in all material respects, the financial position of the company and the group at 30 September 2007, and of its financial performance and its 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.


Per DH Uys
6 December 2007

National Executive: GG Gelink Chief Executive   AE Swiegers Chief Operating Officer GM Pinnock Audit  DL Kennedy Tax   L Geeringh Consulting  L Bam Strategy  CR Beukman Finance  TJ Brown Clients & Markets   NT Mtoba Chairman of the Board  J Rhynes Deputy Chairman of the Board
A full ist of partners and directors is available on request
Member of
Deloitte Touche Tohmatsu
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