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INDEPENDENT AUDITOR’S REPORT TO THE
SHAREHOLDERS OF HYPROP INVESTMENTS LIMITED
for the year ended 30 June 2015
We have audited the consolidated and separate financial statements
of Hyprop Investments Limited set out on pages 82 to 151, which
comprise the statements of financial position as at 30 June 2015, and
the statements of comprehensive income, statements of changes in
equity and statements of cash flows for the year then ended, and the
notes, comprising a summary of significant accounting policies and other
explanatory information.
Directors’ responsibility for the financial statements
The company's directors are responsible for the preparation and fair
presentation of these consolidated and separate financial statements
in accordance with International Financial Reporting Standards and the
requirements of the Companies Act of South Africa and for such internal
control as the directors determine is necessary to enable the preparation
of consolidated and separate financial statements that are free from
material misstatements, whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these consolidated and
separate financial statements based on our audit. We conducted our
audit in accordance with International Standards on Auditing. Those
standards require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether
the consolidated and separate financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor’s judgement, including the assessment of
the risks of material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity’s preparation and fair presentation
of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the entity’s internal control. An audit
also includes evaluating the appropriateness of accounting policies used
and the reasonableness of accounting estimates made by management,
as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the consolidated and separate financial statements
present fairly, in all material respects, the consolidated and separate
financial position of Hyprop Investments Limited as at 30 June 2015, and
its consolidated and separate financial performance and consolidated
and separate cash flows for the year then ended in accordance with
International Financial Reporting Standards, and the requirements of the
Companies Act of South Africa.
Other reports required by the Companies Act
As part of our audit of the consolidated and separate financial statements
for the year ended 30 June 2015, we have read the directors' report, audit
committee's report and company secretary's certificate for the purpose
of identifying whether there are material inconsistencies between these
reports and the audited consolidated and separate financial statements.
These reports are the responsibility of the respective preparers. Based
on reading these reports we have not identified material inconsistencies
between these reports and the audited consolidated and separate
financial statements. However, we have not audited these reports and
accordingly do not express an opinion on these reports.
Grant Thornton
Chartered Accountants (SA)
Registered Auditors
VR de Villiers
Partner
Chartered Accountant (SA)
Registered Auditor
31 August 2015
@GrantThornton
Wanderers Office Park
52 Corlett Drive
Illovo
2196
78
Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS