4.0 - Imperial

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Directors’ responsibility for financial reporting The directors of the company are responsible for the maintenance of adequate accounting records and the preparation and integrity of the annual financial statements and related information. The financial statements have been prepared in accordance with International Financial Reporting Standards and in the manner required by the Companies Act of South Africa. The group’s independent external auditors, Deloitte & Touche have audited the financial statements and their unmodified report appears on page 51. The directors are also responsible for the systems of internal control. These are designed to provide reasonable, but not absolute, assurance as to the reliability of the financial statements, and to adequately safeguard, verify and maintain accountability for assets, and to prevent and detect material misstatements and losses. The systems are implemented and monitored by suitably trained personnel with an appropriate segregation of authority and duties. Nothing has come to the attention of the directors to indicate that any material breakdown in the functioning of these controls, procedures and systems has occurred during the year under review. The annual financial statements are prepared on the going concern basis. Nothing has come to the attention of the directors to indicate that the group will not remain a going concern for the foreseeable future. The annual financial statements set out on pages 52 to 143 were approved by the board of directors and are signed on their behalf by: TS Gcabashe HR Brody AH Mahomed Chairman Chief Executive Financial Director 25 August 2009 Certificate by company secretary In my capacity as company secretary, I hereby confirm that, for the period ended 30 June 2009, the company has lodged with the Registrar of Companies all such returns as are required of a public company in terms of the Companies Act, No 61 of 1973, as amended and that all such returns are true, correct and up to date. RA Venter Company Secretary 25 August 2009 50 Imperial holdings limited Annual Report 2009
Independent audItor’S report to the shareholders of ImperIal holdIngs LIMIted We have audited the annual financial statements and group annual financial statements of Imperial Holdings Limited, which comprise the directors’ report, the balance sheet and the consolidated balance sheet as at 30 June 2009, the income statement and the consolidated income statement, the statement of changes in equity and the consolidated statement of changes in equity, the cash flow statement and the consolidated cash flow statement for the year then ended, a summary of significant accounting policies and other explanatory notes as set out on pages 52 to 143. Financial Statements Directors’ responsibility for the financial statements 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. 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 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. Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of the company and of the group as at 30 June 2009, and of their financial performance and their 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 MJ Comber Partner 25 August 2009 Buildings 1 and 2 Deloitte Place The Woodlands Office Park Woodlands Drive Sandton National Executive GG Gelink (Chief Executive), AE Swiegers (Chief Operating Officer), GM Pinnock (Audit), DL Kennedy (Tax & Legal and Risk Advisory), L Geeringh (Consulting), L Bam (Corporate Finance), CR Beukman (Finance), TJ Brown (Clients & Markets), NT Mtoba (Chairman of the Board), CR Qually (Deputy Chairman of the Board) A full list of partners and directors is available on request. Imperial holdings limited Annual Report 2009 51
Page 2 and 3: company Overview Chairman’s repor
Page 4 and 5: our past Our strengths in the marke
Page 6 and 7: PROFILE Imperial is a diversified m
Page 8 and 9: for more information please visit w
Page 10 and 11: Directors and executive committee 2
Page 12 and 13: Chairman’S report paying dividend
Page 14 and 15: Chief exeCutive offiCer’S report
Page 16 and 17: Chief exeCutive offiCer’S report
Page 18 and 19: 16 16 imperial Imperial holdings li
Page 20 and 21: Divisional review > logistics conti
Page 22 and 23: Divisional review > Car rental and
Page 24 and 25: Divisional review > distributorship
Page 26 and 27: Divisional review > vehicle dealers
Page 28 and 29: Divisional review > insurance By me
Page 30 and 31: financial director’s report Stron
Page 32 and 33: financial director’s report conti
Page 34 and 35: 10-year review profit before tax an
Page 36 and 37: 10-year review continued... Headlin
Page 38 and 39: shareholders’ information Distrib
Page 40 and 41: declaration of dividends Preference
Page 46 and 47: Corporate governanCE report continu
Page 54 and 55: DIrectors’ report for the year en
Page 56 and 57: emuneration report Role of the remu
Page 58 and 59: emuneration report continued... Dir
Page 60 and 61: emuneration report continued... Loa
Page 62 and 63: group balance sheet at 30 June 2009
Page 64 and 65: Group statement of changes in equit
Page 66 and 67: segment information - balance sheet
Page 68 and 69: segment information - income statem
Page 70 and 71: Notes to the group annual financial
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Notes to the group annual financial
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company balance sheet at 30 June 20
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company statement of changes IN equ
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Notes to the company annual financi
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Notes to the company annual financi
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ANNEXURE A Interest in Principal Su
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ANNEXURE B Interest in principal as
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ANNEXURE C additional information o
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ANNEXURE D ANALYSIS of the group’
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ANNEXURE E summary of employment eq
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notice of annual general meeting co
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notice of annual general meeting co
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corporate information Directors Non
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NOTES to the form of proXY Notes 1.
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4.0 - Imperial

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