2003 - 04 Annual Report - Sbs

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82INDEPENDENT AUDIT REPORTTo the Minister for Communications, Information Technology and the ArtsAustralian NationalAudit OfficeScopeThe financial statements and directors’ responsibilityThe financial statements comprise:• Statement by Directors;• Statements of Financial Performance, Financial Position and Cash Flows;• Schedules of Commitments and Contingencies; and• Notes to and forming part of the Financial Statementsfor both the Special Broadcasting Service Corporation and the consolidated entity, for the year ended 30 June 2004.The members of the Board are responsible for the preparation and true and fair presentation of the financial statements inaccordance with the Finance Minister’s Orders. This includes responsibility for the maintenance of adequate accounting records andinternal controls that are designed to prevent and detect fraud and error, and for the accounting policies and accounting estimatesinherent in the financial statements.Audit approachI have conducted an independent audit of the financial statements in order to express an opinion on them to you. My audit hasbeen conducted in accordance with the Australian National Audit Office Auditing Standards, which incorporate Australian Auditingand Assurance Standards, in order to provide reasonable assurance as to whether the financial statements are free of materialmisstatement. The nature of an audit is influenced by factors such as the use of professional judgement, selective testing, theinherent limitations of internal control, and the availability of persuasive, rather than conclusive, evidence. Therefore, an audit cannotguarantee that all material misstatements have been detected.While the effectiveness of management’s internal controls over financial reporting was considered when determining the nature andextent of audit procedures, the audit was not designed to provide assurance on internal controls.I have performed procedures to assess whether in all material respects the financial statements present fairly, in accordance withthe Finance Minister’s Orders made under the Commonwealth Authorities and Companies Act 1997, Accounting Standards andother mandatory financial reporting requirements in Australia, a view which is consistent with my understanding of the Corporation’sand consolidated entity’s financial positions and performances as represented by the statements of financial performance, financialposition and cash flows.The audit opinion is formed on the basis of these procedures, which included:• examining, on a test basis, information to provide evidence supporting the amounts and disclosures in the financial report; and• assessing the appropriateness of the accounting policies and disclosures used, and the reasonableness of significantaccounting estimates made by the Board.
83IndependenceIn conducting the audit, I have followed the independence requirements of the ANAO, which incorporate Australian professional ethicalpronouncements.Audit OpinionIn my opinion, the financial statements:(i)have been prepared in accordance with the Finance Minister’s Orders made under the Commonwealth Authorities and CompaniesAct 1997 and applicable Accounting Standards; and(ii) give a true and fair view, of the matters required by applicable Accounting Standards and other mandatory professional reportingrequirements in Australia, and the Finance Minister’s Orders, of the financial position of the Special Broadcasting ServiceCorporation and the consolidated entity as at 30 June 2004, and their financial performance and cash flows for the year then ended.Australian National Audit OfficeP HincheySenior DirectorDelegate of the Auditor-GeneralSydney13 August 2004
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2003 - 2004ANNUALREPORTcelebrating
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iCONTENTSOverview and Vision Statem
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iiiCHAIRMAN’S LETTER TO THE MINIS
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HARVIE KRUMPETvii
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1234 hours of Australian programs,
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3character changes with Pauly and B
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5Australian Programs Commissionedby
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SOMERSAULT7
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9SBSi COMMISSIONED PROGRAMSSpecial
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11major breaking stories as soon as
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13INSIGHT FORUMS continued...Home f
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TRAVELLING LIGHT15
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17SBS ATTENDANCE AT FILM FESTIVALS
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19Weekly Reach by Key DemographicsS
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LA SPAGNOLA21
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23Four languages - Malay, Somali, A
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25News and World ViewEvery language
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27• The Mandarin language program
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29AUDIENCE RESEARCHAWARDSSBS Radio
Page 41 and 42: BOOK OF BUTTERFLIES31
Page 43 and 44: 33Traffic to the SBS website has in
Page 45 and 46: 35TELEVISION AND RADIOwww.sbs.com.a
Page 47 and 48: 37SBS Television advertising revenu
Page 49 and 50: 39The complete SBS merchandise cata
Page 51 and 52: THE MARY G SHOW41
Page 53 and 54: 43Home Video SalesSBS Program Sales
Page 55 and 56: 4521 new analogue transmitters bega
Page 57 and 58: 47The new partnership with Broadcas
Page 59 and 60: FLOODHOUSE49
Page 61 and 62: 51SBS ended the financial yearwith
Page 63 and 64: 53Audit and Finance CommitteeThe SB
Page 65 and 66: 55Program. All SBS employees are at
Page 67 and 68: 57SBS programming; 302 made broad c
Page 69 and 70: 59SBS Radio continued to produce an
Page 71 and 72: 61documentaries and documentary ser
Page 73 and 74: 63INTERNATIONAL PARTICIPATIONSBS ma
Page 75 and 76: 65For the first time, two regular p
Page 77 and 78: 67Despite increased competition fro
Page 79 and 80: 69In 2003-04, bulletins were added
Page 81 and 82: 71In 2003-04, the budget for Austra
Page 83 and 84: THE TRACKER73
Page 85 and 86: 75Following the landmark findings o
Page 87 and 88: 77youth music festival, National Yo
Page 89 and 90: 79GOAL 3TO INCREASE OUR CAPACITY TO
Page 91: 81Revenue from independentsources o
Page 95 and 96: STATEMENT OF FINANCIAL PERFORMANCEf
Page 97 and 98: STATEMENT OF CASH FLOWSfor the year
Page 99 and 100: SCHEDULE OF CONTINGENCIESas at 30 J
Page 101 and 102: 911. Summary of significant account
Page 103 and 104: 93(k)Superannuation(i)Employees of
Page 105 and 106: 95(s)Goods and Services TaxRevenues
Page 107 and 108: 97Changes in accounting policy(a) P
Page 109 and 110: 99Notes Consolidated Corporation200
Page 111 and 112: 1016(c)Remuneration of directors an
Page 113 and 114: 103Notes Consolidated Corporation8.
Page 115 and 116: 1052004 2003$'000 $'000(xii) Invest
Page 117 and 118: 1079(c)Intangibles (continued)Recon
Page 119 and 120: 1099(f)Assets held under finance le
Page 121 and 122: 111Notes Consolidated Corporation11
Page 123 and 124: 11314. Analysis of Equity(Consolida
Page 125 and 126: 11515(b) Interest rate riskThe econ
Page 127 and 128: 117ConsolidatedCorporation16. Conti
Page 129 and 130: 119SBS Television broadcast 6,965 h
Page 131 and 132: APPENDIX 2SBS Television Analogue S
Page 133 and 134: 123Area ServedChannelArea ServedCha
Page 135 and 136: APPENDIX 2SBS Television Digital Se
Page 137 and 138: APPENDIX 4SBS Television Programs o
Page 139 and 140: 129DOCUMENTARY SERIESAustralia by N
Page 141 and 142: 131SBS Radio Sydney FM (99.7)TIME M
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APPENDIX 9SBS Radio - Languages Bro
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APPENDIX 11SBS Television Advertise
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APPENDIX 13Community Advisory Commi
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139NATIONAL AND INTERNATIONAL AWARD
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141Mountain Film Telluride, USANort
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143IIF Awards 3If Only 3, 70Indigen
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2003 - 04 Annual Report - Sbs

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