2005/2006 - SANParks

ANNUAL FINANCIAL STATEMENTSfor the year ended 31 March 20062006South African National ParksThe controls contain self-monitoring mechanisms, and actions are takento correct defi ciencies as they are identifi ed. Even an effective system ofinternal control, no matter how well designed, has inherent limitations,including the possibility of circumvention or the overriding of controls. Aneffective system of internal control therefore aims to provide reasonableassurance with respect to the reliability of fi nancial information and, inparticular, fi nancial statement presentation. Furthermore, because ofchanges in conditions, the effectiveness of internal controls may varyover time.The Board has reviewed South African National Parks’s systems ofinternal control and risk management for the period from 1 April 2005to 31 March 2006. The Board is of the opinion that South African NationalParks’s systems of internal control and risk management were effectivefor the period under review.In the opinion of the Board, based on the information available to date, theannual fi nancial statements fairly present the fi nancial position of SouthAfrican National Parks at 31 March 2006 and the results of its operationsand cash fl ow information for the year and that the Code of CorporatePractices and Conduct has been adhered to.The annual fi nancial statements and appendices for the year ended31 March 2006, set out on pages 106 to 137, were submitted for auditingon 31 May 2006 and approved by the Board in terms of section 51(1)(f)of the Public Finance Management Act, 1999 (Act No. 1 of 1999), asamended, and are signed on its behalf by:Ms C CarolusChairpersonPretoria, 31 May 2006Dr M D MabundaChief ExecutivePretoria, 31 May 200693