Staatsolie Annual Report 2017

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Confidence in Our Own Abilities 24 In the refinery area, our newly established Neighborhood Council met a number of times and conducted two stakeholder activities. A formal stakeholder meeting was held at the start of the Environmental and Social Impact Study for the nearshore exploration activities planned for 2018. That was also the case in preparation for the drilling of the Araku offshore well. We regularly met with the Districts Commissioners to discuss local issues and how Staatsolie could help. Complaints received were handled through our complaints management process. In 2018, we will further develop our Corporate Social Responsibility policies, implement stakeholder engagement guidelines, and continue to focus on social investment initiatives.
Annual Report 2017 25 Independent Auditor’s Report to the shareholder of Staatsolie maatschappij Suriname n.v. Report on the Audit of the Consolidated Financial Statements Opinion We have audited the consolidated financial statements of Staatsolie Maatschappij Suriname N.V. (“the Group”), which comprise the consolidated statement of financial position as at 31 December 2017 and 2016 the consolidated statement of profit or loss, the consolidated statement of other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Group as at 31 December 2017 and 2016 and its financial performance and its cash flows for the years then ended in accordance with International Financial Reporting Standards (“IFRSs”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (“ISAs”). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Matter paragraph The consolidated financial statements of the Group for the year ended 31 December 2015 was prepared, in accordance with Generally Accepted Accounting Principles in the United States (“USGAAP”) were audited by another auditor who expressed an unmodified opinion on those statements on 30 May 2016. As part of our audit of these consolidated financial statements, we also reviewed the adjustments described in Note 2.4 that were applied to amend the 2015 financial statements. In our opinion, such adjustments are appropriate and have been properly applied. We were not engaged to audit, review, or apply any procedures to the 2015 consolidated financial statements of the Group other than with respect to the above-mentioned adjustments and, accordingly, we do not express an opinion or any other form of assurance on the 2015 consolidated financial statements taken as a whole. Key audit matters Key audit matters are those matters that, in our professional judgment, were of most significance in the audit of the consolidated financial statements of 2017 and 2016. These matters were addressed in the context of the audit of the consolidated financial statements as a whole, and in forming the auditor’s opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context.
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