Annual Report

129

Independent Auditor’s

Report

An independent New SouthWales Partnership. ABN 17 795 780 962

Level 22 MLC Centre, 19 Martin Place, Sydney NSW 2000

Liability limited by a scheme approved under Professional Standards Legislation

Pitcher Partners is an association of independent firms

An independent member of Baker Tilly International

Independent Auditor’s Report

to the Members of Washington H. Soul Pattinson and Company Limited

ABN 49 000 002 728

Report on the Financial Report

We have audited the accompanying financial report of Washington H. Soul Pattinson and Company

Limited, which comprises the consolidated statement of financial position as at 31 July 2016, the

consolidated income statement, the consolidated statement of comprehensive income, the consol-

idated statement of changes in equity and the consolidated statement of cash flows for the year

then ended, notes comprising a summary of significant accounting policies and other explanatory

information and the directors’ declaration of the consolidated entity comprising Washington H. Soul

Pattinson and Company Limited and the entities it controlled at the year’s end or from time to time

during the financial year.

Directors’Responsibility for the Financial Report

The directors of Washington H. Soul Pattinson and Company Limited are responsible for the prepa-

ration and fair presentation of the financial report that gives a true and fair view in accordance with

Australian Accounting Standards and the

Corporations Act 2001

and for such internal controls as the

directors determine are necessary to enable the preparation of the financial report that is free from

material misstatement, whether due to fraud or error. In the Basis of Preparation on page 55, the

directors also state that, in accordance with Australian Accounting Standard AASB 101:

Presentation

of Financial Statements

, that the financial statements comply with International Financial Reporting

Standards.

Auditor’s Responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We 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 about whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclo-

sures in the financial report. The procedures selected depend on the auditor’s judgement, 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 controls relevant to the