LDAssurance
CHARTERED ACCOUNTANTS
LDAssurance Pty Ltd
Level 6, 250 Collins Street
Melbourne Victoria 3000
PO Box 18184 Collins Street East 8003
TELEPHONE +61 3 9655 3922
FACSIMILE +61 3 9655 3910
www.ldassurance.com.au
ACN 146 147 202
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF
FITZROY LEARNING NETWORK INCORPORATED
We have audited the accompanying financial report, being a special purpose financial report, of
Fitzroy Learning Network Incorporated (the ‘Association’) which comprises the statement of financial
position as at 30 June 2016, statement of profit or loss and other comprehensive income, statement
of changes in equity, statement of cash flows, a summary of significant accounting policies, other
explanatory notes and the statement by the board.
The Responsibility of the Board for the Financial Report
The members of the board are responsible for the preparation of the financial report that gives a true
and fair view and have determined that the basis of preparation described in Note 1 is appropriate to
meet the financial reporting requirements of the Associations Incorporations Reform Act 2012, the
Australian Charities and Not-for-profits Commission Act 2012 (Cth) and the needs of the members.
The Board’s responsibilities also includes such internal control as they determine necessary to enable
the preparation of a financial report that is free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We have
conducted our audit in accordance with Australian Auditing Standards. Those 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 is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the financial report. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial report, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the preparation of
the financial report that gives a true and fair view 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 internal controls. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by the board
members, as well as evaluating the overall presentation of the financial report.
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 Accounting
Professional and Ethical Standards Board and the Australian Charities and Not-for-profits
Commission Act 2012.
Liability limited by a scheme approved under Professional Standards Legislation.