KU Annual Report 2016 | Page 22

KU Financial Report Deloitte Touche Tohmatsu ABN 74 490 121 060 Grosvenor Place 225 George Street Sydney, NSW, 2000 Australia Phone: +61 2 9322 7000 www.deloitte.com.au Independent Auditor’s Report to the members of KU Children’s Services Opinion We have audited the financial report of KU Children’s Services (the “Entity”), which comprises the statement of financial position as at 31 December 2016, the statement of profit and loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors’ declaration as set out in pages 13-35. In addition, we have audited KU Children’s Services’ compliance with specific requirements of the Charitable Fundraising Act 1991 for the year ended 31 December 2016. In our opinion (a) t  he accompanying financial report of the Entity, is in accordance with Division 60 of the Australian Charities and Not-for-profit Commission Act 2012 (the ACNC Act), including: (i) G  iving a true and fair view of the Entity’s financial position as at 31 December 2016 and of its financial performance for the year then ended; and (ii) Complying with Australian Accounting Standards – Reduced Disclosure Regime and Division 60 of the Australian Charities and Not-for-profits Commission Regulations 2013. (b) t  he financial report agrees to the underlying financial records of KU Children’s Services, that have been maintained, in all material respects, in accordance with the Charitable Fundraising Act 1991 and its regulations for the year ended 31 December 2015; and (c) m  onies received by KU Children’s Services, as a result of fundraising appeals conducted during the year ended 31 December 2015, have been accounted for and applied, in all material respects, in accordance with the Charitable Fundraising Act 1991 and its regulations. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Entity in accordance with the Australian Charities and Not-for-profits Commission Act 2012 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Information The Board of Directors is responsible for the other information. The other information comprises the directors’ report for the year ended 31 December 2016, but does not include the financial report and our auditor’s report thereon. Our opinion on the financial report does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Liability limited by a scheme approved under Professional Standards Legislation. Member of Deloitte Touche Tohmatsu Limited 121st Annual Report 2016