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Journeys : Oct Nov 2010
RACT Annual Report 09–10 17 2009 10 Independent Audit Report Independent auditor’s report to the members of The Royal Automobile Club of Tasmania Ltd REPORT ON THE CONCISE FINANCIAL REPORT The accompanying concise financial report of The Royal Automobile Club of Tasmania Ltd comprises the statement of financial position as at 30 June 2010, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended and related notes, derived from the audited financial report of The Royal Automobile Club of Tasmania Ltd for the year ended 30 June 2010. The concise financial report also includes discussion and analysis and the directors’ declaration. The concise financial report does not contain all the disclosures required by the Australian Accounting Standards. DIRECTORS’ RESPONSIBILITY FOR THE CONCISE FINANCIAL REPORT The Directors are responsible for the preparation and presentation of the concise financial report in accordance with Accounting Standard AASB 1039 Concise Financial Reports, and the Corporations Act 2001. This responsibility includes establishing and maintaining internal controls relevant to the preparation of the concise financial report; 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 the concise financial report based on our audit procedures. We have conducted an independent audit, in accordance with Australian Auditing Standards, of the financial report of The Royal Automobile Club of Tasmania Ltd for the year ended 30 June 2010. The Australian Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report for the year is free from material misstatement. Our procedures in respect of the concise financial report included testing that the information in the concise financial report is derived from, and is consistent with, the financial report for the year, and examination on a test basis, of evidence supporting the amounts and other disclosures which were not directly derived from the financial report for the year. These procedures have been undertaken to form an opinion whether, in all material respects, the concise financial report complies with Accounting Standard AASB 1039 Concise Financial Reports and whether the discussion and analysis complies with the requirements laid down in AASB 1039 Concise Financial Reports. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. INDEPENDENCE In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. AUDIT OPINION In our opinion, the concise financial report, including the discussion and analysis and the directors’ declaration of The Royal Automobile Club of Tasmania Ltd for the year ended 30 June 2010 complies with Accounting Standard AASB 1039 Concise Financial Reports. Wise Lord and Ferguson Chartered Accountants Harvey Gibson Hobart, 21st September 2010. PARTNER WISE, LORD & FERGUSON
Aug Sep 2010