TO THE MEMBERS OF INVICTA
HOLDINGS LIMITED
Report on the annual
financial statements
We have audited the group
annual financial statements and annual financial statements of
Invicta
Holdings Limited, which comprise the Audit Committee
report on pages 42 and 43, the consolidated and company
statements of financial position as at 31 March 2011, and the
consolidated and company statements of comprehensive income,
changes in equity and cash flows for the year then ended, and a
summary of significant accounting policies and other explanatory
notes, and the directors’ report, as set out on pages 39 to 41.
Directors’ Responsibility for the Financial
Statements
The directors are responsible for the
preparation and
fair presentation of these financial
statements in accordance with International Financial Reporting
Standards and in the manner required by the Companies Act of
South Africa, and for such internal
control as the directors
determine is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due
to fraud or error.
Auditors’ responsibility
Our responsibility is to express an opinion on
these
financial statements based on our audit. We conducted
our audit in accordance with International Standards on
Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable
assurance whether the financial statements are free from
material misstatement.
An audit involves performing
procedures to obtain audit evidence about the amounts and
disclosures in
the financial statements. The procedures
selected depend on the auditor’s judgement, including the
assessment of the risks of material misstatement of the
financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control
relevant to the entity’s preparation and fair presentation of
the financial statements 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 entity’s
internal control. An audit also includes evaluating the
appropriateness of accounting policies
used and the
reasonableness of accounting estimates
made by management, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for
our audit opinion.
Opinion
In our
opinion, the financial statements present fairly,
in all
material respects, the consolidated and company
financial
position of Invicta Holdings Limited as at 31 March 2011, and
its consolidated and company financial performance and
consolidated and company cash flows for the year then ended in
accordance with International Financial Reporting Standards and
in the
manner required by the Companies Act of South
Africa.
Deloitte & Touche
Registered Auditors
Per
SBF Carter
Partner
31 May 2011
Buildings 1 and
2, Deloitte Place, The Woodlands,
Woodlands Drive, Woodmead,
Sandton
National executive: GG Gelink
(Chief Executive),
AE Swiegers (Chief Operating Officer), GM
Pinnock
(Audit), DL Kennedy (Risk Advisory), NB Kader (Tax &
Legal Services), L Geeringh (Consulting), L Bam
(Corporate
Finance), JK Mazzocco (Human Resources),
CR Beukman
(Finance), TJ Brown (Clients), NT Mtoba
(Chairman of the
Board) and MJ Comber (Deputy
Chairman of the Board)
A
full list of partners and directors is available on
request.
B-BBEE rating: Level 2 contributor/AAA (certified by
Empowerdex) |
