Abacus Property Group – Annual Financial Report 2018

DIRECTORS’ REPORT
30 June 2018
ABACUS PROPERTY GROUP
ENVIRONMENTAL REGULATION AND PERFORMANCE
The Group is subject to significant environmental regulation in respect of its property activities. Adequate
systems are in place for the management of the Group’s environmental responsibilities and compliance with the
various licence requirements and regulations. No material breaches of requirements or any environmental issues
have been identified during the year. The Group is a core plus investor, not a builder of new buildings. The
Group endeavours to choose sustainable options whenever that is a cost-effective outcome.
AUDITORS INDEPENDENCE DECLARATION
We have obtained an independence declaration from our auditor, Ernst & Young, and such declaration is shown
on page 34.
NOTIFICATION OF AUDITOR ROTATION REQUIREMENTS
On 24 April 2018 the board of directors approved the extension of the Lead Audit Partner rotation period for one
year in accordance with section 324DAB of the Corporations Act 2001 and of the Corporations Legislative
Amendment (Audit Enhancement) Act 2012. The decision was based on the directors determining that the
extension provided consistency in the audit process during the change in the Group’s Managing Director. The
directors believe that this enhanced the overall quality of the Group’s audit and the extension does not give rise to
a conflict of interest.
ROUNDING
The amounts contained in this report and in the half-year financial report have been rounded to the nearest
$1,000 (where rounding is applicable) under the option available to the group under ASIC Corporations
Instrument 2016/191. The group is an entity to which the instrument applies.
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