Odyssey House Annual Report 2010

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Lead Auditor’s Independence Declaration Under Section 307c of the Corporations Act 2001 The Board of Directors Odyssey House McGrath Foundation 13a Moonstone Place EAGLE VALE NSW 2558 Dear Board Members Auditor’s Independence Declaration under section 307C of the Corporations Act 2001 In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the directors of Odyssey House McGrath Foundation. As lead audit partner for the audit of the financial statements of Odyssey House McGrath Foundation for the financial year ended 30 June 2010, I declare that to the best of my knowledge and belief, there have been no contraventions of: (a) the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and (b) any applicable code of professional conduct in relation to the audit. Yours faithfully Nexia Court & Co Ian Stone Chartered Accountants Partner Sydney Dated: 18 October 2010 Odyssey House 32 Annual Report 2010
Independent Auditors’ Report Independent Audit Report to the members of Odyssey House McGrath Foundation. ABN 49 001 418 257 Report on the financial report The accompanying concise financial report of Odyssey House McGrath Foundation which comprises the statement of financial position as at 30 June 2010, the statement of comprehensive income, statement of changes in equity, and statement of cash flows for the year ended on that date, other explanatory notes 1 to 9, and the accompanying discussion and analysis on the statement of financial position, statement of comprehensive income, statement of changes in equity and statement of cash flows, (set out on pages 34 to 43), is derived from the audited financial report of Odyssey House McGrath Foundation for the year ended 30 June 2010. We expressed an unmodified audit opinion on those financial statements in our report dated 18 October 2010. The concise financial report does not contain all the disclosures required by Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. Reading the concise financial report is not a substitute for reading the audited financial report of Odyssey House McGrath Foundation. Directors’ responsibility for the concise financial report The directors of Odyssey House McGrath Foundation are responsible for preparing and presenting the concise financial report in accordance with Australian Accounting Standard AASB 1039 Concise Financial Reports. Auditors’ responsibility Our responsibility is to express an opinion on the concise financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the concise financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the concise financial report. The procedures selected depend on the auditors’ judgement, including the assessment of the risks of material misstatement of the concise financial report, 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 concise financial report 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 concise financial report. Our procedures in respect of the audit of the concise financial report included testing that the information in the concise financial report is consistent with the full financial report and examination, on a test basis, of evidence supporting the amounts, discussion and analysis, and other disclosures which were not directly derived from the full financial report. These procedures have been undertaken to form an opinion whether, in all material respects, the concise financial report is presented fairly in accordance with Australian Accounting Standard ASSB 1039. Our procedures including reading the other information in the Annual Report to determine whether it contains any material inconsistencies with the financial report. Our audit did not involve an analysis of the prudence of business decisions made by directors or management. We believe the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Independence In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001 would be in the same terms if it had been given to the directors at the time that this auditor’s report was made. Audit opinion In our opinion, the concise financial report of Odyssey House McGrath Foundation for the financial year ended 30 June 2010 complies with Australian Accounting Standard AASB 1039 Concise Financial Reports. Nexia Court & Co Ian Stone Chartered Accountants Partner Sydney Dated: 18 October 2010 Odyssey House 33 Annual Report 2010
Page 1 and 2: Odyssey House Annual Report 2010
Page 3 and 4: Our Mission Odyssey House McGrath F
Page 5 and 6: During the 2009-2010 financial year
Page 7 and 8: Tom was only two months old when hi
Page 9 and 10: As Chair I will continue to recruit
Page 11 and 12: Odyssey continued to be a prominent
Page 13 and 14: Odyssey House continued to receive
Page 15 and 16: t 6 n - k. r ed was ars ded anons,
Page 17 and 18: Assessment and Referral Centre Refu
Page 19 and 20: Residents living at the main treatm
Page 21 and 22: The Progressive Learning Centre (PL
Page 23 and 24: Odyssey House Counselling Services
Page 25 and 26: The Finance Department is integral
Page 27 and 28: Board of Directors Jonathan Fisk Jo
Page 29 and 30: Financial Report Concise Annual Rep
Page 31: 10 Information on Directors Directo
Page 35 and 36: Discussion and analysis of the Stat
Page 37 and 38: Statement of Financial Position Sta
Page 39 and 40: Statement of Cash Flows Statement o
Page 41 and 42: Notes to the Financial Statements 4
Page 43 and 44: Notes to the Financial Statements 8

Odyssey House Annual Report 2010

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