Annual Report 2003 - Antofagasta plc

Basis of Audit OpinionWe conducted our audit in accordance with United Kingdom auditing standards issued by the AuditingPractices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts anddisclosures in the financial statements and the part of the Report on Remuneration and Related Mattersdescribed as having been audited. It also includes an assessment of the significant estimates andjudgements made by the Directors in the preparation of the financial statements and of whether theaccounting policies are appropriate to the circumstances of the Company and the Group, consistentlyapplied and adequately disclosed.We planned and performed our audit so as to obtain all the information and explanations which weconsidered necessary in order to provide us with sufficient evidence to give reasonable assurance that thefinancial statements and the part of the Report on Remuneration and Related Matters described as havingbeen audited are free from material misstatement, whether caused by fraud or other irregularity or error.In forming our opinion, we also evaluated the overall adequacy of the presentation of information in thefinancial statements and the part of the Report on Remuneration and Related Matters described as havingbeen audited.OpinionIn our opinion:■the financial statements give a true and fair view of the state of affairs of the Company and theGroup as at 31 December 2003 and of the profit of the Group for the year then ended; and■the financial statements and the part of the Report on Remuneration and Related Matters describedas having been audited have been properly prepared in accordance with the Companies Act 1985.Deloitte & Touche LLPChartered Accountants and Registered AuditorsLondon6 May 2004ANTOFAGASTA PLC Annual Report and Financial Statements 200347