Hyprop Investments Limited Integrated annual report 2017

Hyprop Investments Limited

Integrated annual report and consolidated financial statements

2017

Independent auditor’s report

continued

for the year ended 30 June 2017

As part of an audit in accordance with ISA, we exercise professional

judgement and maintain professional scepticism throughout the audit. We

also:

■■

Identify and assess the risks of material misstatement of the

consolidated financial statements, whether due to fraud or error,

design and perform audit procedures responsive to those risks,

and obtain audit evidence that is sufficient and appropriate to

provide a basis for our opinion. The risk of not detecting a material

misstatement resulting from fraud is higher than for one resulting from

error, as fraud may involve collusion, forgery, intentional omissions,

misrepresentations, or the override of internal control

■■

Obtain an understanding of internal control relevant to the audit 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 group’s internal control

■■

Evaluate the appropriateness of accounting policies used and the

reasonableness of accounting estimates and related disclosures made

by the directors

■■

Conclude on the appropriateness of the directors’ use of the going

concern basis of accounting and, based on the audit evidence

obtained, whether a material uncertainty exists related to events or

conditions that may cast significant doubt on the group’s ability to

continue as a going concern. If we conclude that a material uncertainty

exists, we are required to draw attention in our auditor’s report to the

related disclosures in the consolidated financial statements or, if such

disclosures are inadequate, to modify our opinion. Our conclusions are

based on the audit evidence obtained up to the date of our auditor’s

report. However, future events or conditions may cause the group to

cease to continue as a going concern

■■

Evaluate the overall presentation, structure and content of the

consolidated financial statements, including the disclosures, and

whether the consolidated financial statements represent the

underlying transactions and events in a manner that achieves fair

presentation

■■

Obtain sufficient appropriate audit evidence regarding the financial

information of the entities or business activities within the group to

express an opinion on the consolidated financial statements. We are

responsible for the direction, supervision and performance of the

group audit. We remain solely responsible for our audit opinion.

We communicate with the directors regarding, among other matters, the

planned scope and timing of the audit and significant audit findings,

including any significant deficiencies in internal control that we identify

during our audit.

We also provide the directors with a statement that we have complied

with relevant ethical requirements regarding independence, and

communicate with them all relationships and other matters that may

reasonably be thought to bear on our independence and, where

applicable, related safeguards.

From the matters communicated with the directors, we determine those

matters that were of most significance in the audit of the consolidated

financial statements of the current period and are therefore the key audit

matters. We describe these matters in our auditor’s report unless law or

regulation precludes public disclosure about the matter or when, in

extremely rare circumstances, we determine that a matter should not be

communicated in our report because the adverse consequences of doing

so would reasonably be expected to outweigh the public interest benefits

of such communication.

Report on other legal and regulatory requirements

In terms of the IRBA Rule published in

Government Gazette

Number

39475 dated 4 December 2015, we report that KPMG Inc. has been the

auditors of Hyprop Investment Limited for two years.

KPMG Inc.

Registered Auditor

Per Peter Macdonald

Chartered Accountant (SA)

Registered Auditor

Director

31 August 2017

KPMG Crescent

85 Empire Road

Parktown

2193