| DIRECTORS' RESPONSIBILITY |
| |
|
|
| The directors are responsible for the preparation, integrity and
objectivity of financial statements that fairly present the state of the
affairs of the group at the end of its financial years and the income,
cash flow and statement of changes in equity statements for these
years, as well as for other information contained in the annual report. |
| |
| In preparing the group financial statements: |
| • |
International Financial Reporting Standards have been adopted; and |
| • |
reasonable and prudent judgements and estimates have been made. |
|
| |
| To enable the directors to meet the financial reporting responsibilities: |
| • |
the board and management set standards and the management
implements internal control, accounting and information systems
aimed at providing assurance as to the integrity and reliability of
the financial statements and to safeguard, verify and maintain the
group's assets; and |
| • |
the group audit and risk committee, together with the external
auditors, plays an integral role in matters relating to financial and
internal control, accounting policies, reporting and disclosure. |
|
| |
To the best of their knowledge and belief, based on the above, the
directors are satisfied that no material breakdown in the operation of
the systems of internal control and procedures has occurred during the
period under review. The auditors concur with this statement.
The directors are of the opinion that Brait S.A. will continue as a going
concern in the year ahead and have adopted the going concern basis
in preparing the financial statements. The auditors concur with this
opinion.
The group's external auditors, Deloitte & Touche, have audited the
financial statements and their unqualified report appears below.
The financial statements which appear on pages 73 to 108 were
approved by the board of directors on 19 June 2006 and are signed on
its behalf by |
| |
 |
 |
| ME King |
JJ Coulter |
| Senior Chairman |
Group Chief Executive |
|
| |
| |
| REPORT OF INDEPENDENT AUDITORS |
| |
| TO THE SHAREOWNERS OF BRAIT S.A. |
We have audited the accompanying balance sheet
of Brait S.A. and its subsidiaries as at 31 March 2006 and the
related group statement of income, cash flows and changes in
equity set out on pages
73 to 108 for the year then ended. These financial statements
and the directors' report are the responsibility of the group's
directors. Our responsibility is to express an opinion on these
financial statements based on our audit and to check the consistency
of the directors' report with them.
We conducted our audit in accordance with International Standards on
Auditing. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement
presentation.We believe that our audit provides a reasonable basis for
our opinion.
In our opinion, the group financial statements present fairly, in
all material respects, the financial position of the group at
31 March 2006, and the results of its operations and cash flows and changes in equity for the year then ended in accordance with
International Financial Reporting Standards. The directors' report is
consistent with these group financial statements.
The supplementary Rand information presented in the annual financial
statements is presented for the convenience of users of these financial
statements. It has not been audited by us and, accordingly, we do not
express an opinion thereon. |
| |
| Deloitte SA |
| Réviseur d’enterprises |
| |
 |
| S Mitchell |
| Partner |
| 19 June 2006 |
| |
| Page up |
| |
