| To the members of Steinhoff International Holdings Limited |
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| We have audited the accompanying group financial statements of Steinhoff International Holdings Limited, which comprise the balance sheet at
30 June 2007, the income statement, the statement of recognised income and expense and cash flow statement for the year then ended, a
summary of significant accounting policies and other explanatory notes as set out on pages 86 to 221. |
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| DIRECTORS’ RESPONSIBILITY FOR THE FINANCIAL STATEMENTS |
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| The company’s 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. This responsibility includes: designing,
implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are
reasonable in the circumstances. |
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| AUDITORS’ RESPONSIBILITY |
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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 principles used and
the reasonableness of accounting estimates made by the directors, as well as evaluating the overall financial statement presentation.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. |
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| OPINION |
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| In our opinion, the group financial statements present fairly, in all material respects, the financial position of the group as at 30 June 2007, and of
its financial performance and its 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. |
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| Deloitte & Touche |
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| Registered Auditors |
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| Per U Böhmer |
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| Partner |
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| 10 September 2007 |
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| 221 Waterkloof Road |
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| Waterkloof |
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| Pretoria |
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| 0181 |
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| National Executive: GG Gelink Chief Executive AE Swiegers Chief Operating Officer GM Pinnock Audit DL Kennedy Tax L Geeringh Consulting MG Crisp Financial Advisory
L Bam Strategy CR Beukman Finance TJ Brown Clients and Markets NT Mtoba Chairman of the Board J Rhynes Deputy Chairman of the Board |
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| Regional Leader: T Kalan |
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| A full list of partners and directors is available on request. |
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