Annual Financial Report 2005 - Amref

Report of the Independent Auditors to the
Members of African Medical & Research Foundation
We have audited the financial statements set out on pages 6 to 17 for the year ended 30 September 2005. We have obtained all the
information and explanations that to the best of our knowledge and belief were necessary for the purposes of our audit and to provide a
reasonable basis for our audit. The financial statements are in agreement with the books of account.
Respective Responsibilities of Directors and Independent Auditors
As stated on page 4, the Directors are responsible for the preparation of financial statements that give a true and fair view of the state of
affairs of the company and of its operating results. Our responsibility is to express an opinion on the financial statements based on our audit.
Basis of Opinion
We conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform our audit
to obtain reasonable assurance as to whether the financial statements are free of material misstatement. An audit includes an examination,
on a test basis, of evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by the Directors, as well as evaluating the overall presentation of the financial
statements. We believe that our audit provides a reasonable basis for our opinion.
Opinion
In our opinion proper books of account have been kept and the financial statements give a true and fair view of the state of the company’s
financial position at 30 September 2005 and of its operating results and cash flows for the year then ended and comply with International
Financial Reporting Standards and the requirements of the Kenyan Companies Act.
Date: 10 March 2006
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