Annual Report - Playgroup Victoria

AUDITOR’S REPORTReport on the Financial ReportWe have audited the accompanying financial report,being a special purpose financial report, ofPlaygroup Victoria Inc (the association), whichcomprises the statement of financial position as at31 December 2009, statement of comprehensiveincome, statement of cash flow, statement ofchanges in equity, a summary of significantaccounting policies, other explanatory notes and thestatement by members of the committee.Committee’s Responsibility for the FinancialReportThe committee of the association is responsible forthe preparation and fair presentation of the financialreport and have determined that the accountingpolicies described in Note 1 to the financialstatements, which form part of the financial report,are consistent with the financial reportingrequirements of the Associations Incorporation Act1981 of Victoria and are appropriate to meet theneeds of the members. The committee’sresponsibilities also include establishing andmaintaining internal control relevant to thepreparation and fair presentation of the financialreport that is free from material misstatement,whether due to fraud or error; selecting andapplying appropriate accounting policies; andmaking accounting estimates that are reasonable inthe circumstances.Auditor’s ResponsibilityOur responsibility is to express an opinion on thefinancial report based on our audit. No opinion isexpressed as to whether the accounting policiesused, as described in Note 1, are appropriate tomeet the needs of the members. We conducted ouraudit in accordance with Australian AuditingStandards. These Auditing Standards require thatwe comply with relevant ethical requirementsrelating to audit engagements and plan and performthe audit to obtain reasonable assurance whetherthe financial report is free from materialmisstatement.An audit involves performing procedures to obtainaudit evidence about the amounts and disclosuresin the financial report. The procedures selecteddepend on the auditor’s judgment, including theassessment of the risks of material misstatement ofthe financial report, whether due to fraud or error. Inmaking those risk assessments, the auditorconsiders internal control relevant to the entity’spreparation and fair presentation of the financialreport in order to design audit procedures that areappropriate in the circumstances, but not for thepurpose of expressing an opinion on theeffectiveness of the entity’s internal control. An auditalso includes evaluating the appropriateness ofaccounting policies used and the reasonableness ofaccounting estimates made by the committee, aswell as evaluating the overall presentation of thefinancial report.The financial report has been prepared fordistribution to members for the purpose of fulfillingthe committee’s financial reporting under theAssociations Incorporation Act 1981 of Victoria. Wedisclaim any assumption of responsibility for anyreliance on this report or on the financial report towhich it relates to any person other than themembers, or for any purpose other that that forwhich it was prepared.We believe that the audit evidence we haveobtained is sufficient and appropriate to provide abasis for our audit opinion.IndependenceIn conducting our audit, we have complied with theindependence requirements of Australianprofessional ethical pronouncements.Auditor’s OpinionIn our opinion, the financial report of PlaygroupVictoria Inc is in accordance with the AssociationsIncorporation Act of Victoria 1981 including:i. Giving a true and fair view of the Association’sfinancial position as at 31 December 2009 andof their performance for the year ended on thatdate; andii.Complying with Australian AccountingStandards and the Associations IncorporationAct of Victoria 1981.Saward Dawson Chartered AccountantsPeter ShieldsPartner16 April 2010Blackburn VIC262009 Playgroup Victoria Year of Active Play