Zambian Breweries Annual Report - Released June 2012 - SABMiller

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15 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF ZAMBIAN BREWERIES PLC Report on the financial statements We have audited the accompanying financial statements of Zambian Breweries Plc set out on pages 17 to 47. These financial statements comprise the statement of financial position as at 31 March 2012 and the 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. Directors’ responsibility for the financial statements The directors are responsible for the preparation of financial statements that give a true and fair view in accordance with International Financial Reporting Standards and with the requirements of the Zambia Companies Act 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. Auditor’s 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 about 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 judgment, 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 of financial statements that give a true and fair view 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 the directors, 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 give a true and fair view of the financial position of Zambian Breweries Plc at 31 March 2012, and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards and with the requirements of the Zambia Companies Act. PricewaterhouseCoopers, PwC Place, Stand No 2374, Thabo Mbeki Road, P.O. Box 30942, Lusaka, Zambia. T: +260 (211) 256471/2 , F: +260(211) 256474, www.pwc.com/zm A list of Partners is available from the above address
16 Report on other legal requirements The Zambia Companies Act requires that in carrying out our audit we consider whether Zambian Breweries Plc has kept proper accounting records and other records and registers required by this Act. In our opinion, based on our examination of those records, Zambian Breweries Plc has maintained proper accounting records and other records and registers as required by the Zambia Companies Act. PricewaterhouseCoopers Chartered Accountants Lusaka 12 June 2012 Nasir Ali Partner signing on behalf of the firm
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Zambian Breweries Annual Report - Released June 2012 - SABMiller

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