Integrated Reports Senwes Financial Review 2018 - Page 6

6 FINANCIAL REVIEW INDEPENDENT AUDITOR’S REPORT To the Shareholders of Senwes Limited REPORT ON THE AUDIT OF THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS Opinion We have audited the consolidated and separate financial state- ments of Senwes Limited and its subsidiaries, joint ventures and associates (the group) set out on pages 104 to 160, which comprise the consolidated and separate statements of financial position as at 30 April 2018, and the consolidated and separate statements of comprehensive income, the consolidated and separate statements of changes in equity and the consolidated and separate statements of cash flows for the year then end- ed, and notes to the consolidated and separate financial state- ments, including a summary of significant accounting policies. In our opinion, the consolidated and separate financial state- ments present fairly, in all material respects, the consolidated and separate financial position of Senwes and the group as at 30 April 2018, and its consolidated and separate financial performance and consolidated and separate cash flows for the year then ended in accordance with International Financial Re- porting Standards and the requirements of the Companies Act of South Africa. Basis for Opinion We conducted our audit in accordance with International Stan- dards on Auditing (ISAs). Our responsibilities under those stan- dards are further described in the Auditor’s responsibilities for the audit of the consolidated and separate financial statements section of our report. We are independent of the group in ac- cordance with the Independent Regulatory Board for Auditors Code of Professional Conduct for Registered Auditors (IRBA Code), the International Ethics Standards Board for Accoun- tants Code of Ethics for Professional Accountants (IESBA code) and other independence requirements applicable to per- forming the audit of Senwes Limited. We have fulfilled our other ethical responsibilities in accordance with the IRBA Code, IES- BA Code, and in accordance with other ethical requirements applicable to performing the audit of Senwes Limited. We be- lieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key audit matters are those matters that, in our profession- al judgement, were of most significance in our audit of the consolidated and separate financial statements of the current period. FW6RGFW'2vW&RFG&W76VBFR6FWBbW VFBbFR66ƖFFVBB6W&FRf67FFVVG20vRBf&֖rW"FW&VBvRF@&fFR6W&FRFW6RGFW'2f"V6GFW &VrW"FW67&FbrW"VFBFG&W76VBFRGFW 2&fFVBFB6FWBvRfRgVfVBFR&W76&ƗFW2FW67&&VBFRVFF.( 0&W76&ƗFW2f"FRVFBbFR66ƖFFVBB6W&FRfЦ67FFVVG26V7FbW"&W'B6VFr&VFFFW6RGFW'266&FvǒW"VFB6VFVBFRW&f&6Pb&6VGW&W2FW6vVBF&W7BFW"76W76VBbFP&62bFW&֗77FFVVBbFRf67FFVVG2FP&W7VG2bW"VFB&6VGW&W26VFrFR&6VGW&W2W"Цf&VBFFG&W72FRGFW'2&Vr&fFRFR&62f"W VFBFR66疖rf67FFVVG2शWVFBGFW"rFRGFW"v2FG&W76VBFRVF@$d4d"$TBbE$DR$T4Td$U2B%DttR2W"VFB&6VGW&W2ffVBw7BFW'2FRfvs66ƖFFVBB6W&FRf67FFVVG22F666VBFRRFFRf67FFVVG2FRw&WB6fR6vf6@7V6f2B'FfƖ&f62VFrF#B֖Ɩ6瓢#2֖Ɩf""ЦVBbG&FR&V6Vf&W2B'FvvR2FRFWFW&֖F2FvWFW"G&FR&V6Vf&W2B'FvvR2&R6V7F&RffW06vf6BvVVBVFvVVBBW7FFW2FR7B6vf6Bbv66VFRf FR'FfƖ&f6㠤d4$UdUpWVFBGFW'0vRW&f&VBFWVFVB67VFW6rWG2B77VF2vR&VƖWfVBvW&P&V6&RB6&VBFRWF6RFvVVN( 2&f667VF㰠vR6&VBFR7&W7FFW2BVG2f"FR7V6f2&Vv2B6FFW2W6V@'vVVBFFRf&F&VV6VB'FRF7&W7FF6֗GFVSvRWfVFVBFRV7F&W2FVBvF6&6FFRV7F&W2f"v6f6Rv0ƖVBf#