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  • IPCO20181009C - Independent Auditor Report

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    Example of Independent Audit Report

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    © All Rights Reserved
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    11 views5 pages

    IPCO20181009C - Independent Auditor Report

    Uploaded by

    Montilla Bambie
    Example of Independent Audit Report

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 5
    ANNUAL REPORT 2018 IPCO INTERNATIONAL LIMITED INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF IPCO INTERNATIONAL LIMITED REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS Disclaimer of Opinion We were engaged to audit the financial statements of Ipco International Limited (the "Company/) and its subsidiaries (collectively, the “Group") as set out on pages 15 to 90, which comprise the consolidated statement of financial positian of the Group and the statement of financial position of the Company as at 30 April 2018, and the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows of the Group and the statement of cchanges in equity ofthe Company forthe financial year then ended, and notes to the financial statements, Including a summary of significant accounting polices. ‘We do not express an opinion on the accompanying financial statements of the Group and the statement of financial position and statement of changes in equity of the Company. Because ofthe significance of the matters described in the Basis for Disclaimer Cf Opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements. Basis for Disclaimer of Opinion 41. Opening balances Another itm of independent auditors was engaged to audit the financial statements fo the financial year ended 90 April 2017 \whose report dated 7 August 2017 contained a disclaimer of opinion on those financial statements, The bass for disciaimer of opinion on the financial statements is disclosed in Note 36 of the financial statements, In view of the matters described in the basis for disclaimer of opinion paragraphs on the financial staternents forthe financial ‘year ended 30 April 2017, we are unable to determine whether the opening balancss at 1 May 2017 are fairy etated. In addition, we were unable to perform audit procedures to obtain sufficient appropriate audit evidence about whether the ‘Group's and Company's opening balances as at 1 May 2017 contain misstatements that materially affect the eurrent year's financial statomonts; and whather appropriate accounting policies reflected in the opening balances have been consistently applied in the current year's financial statements, SSinco opening balances as at 1 May 2017 entered into the determination of the financial performance, changes in equity and cash flows of the Group and changes in equity of the Company for the financlal year ended 30 April 2018, as well as affect how the balances presented in the Group's and Company's statarente of financial position es at 30 Apri 2018 are

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