Page 33 - CGC_Annual_Report_2014
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Annual Report 2013-2014
INDEPENDENT AUDIT REPORT TO THE MEMBERS OF COTTESLOE GOLF CLUB
(INCORPORATED)
Report on the Financial Report
We have audited the accompanying financial report of Cottesloe Golf Club Inc. (the ‘Club’) which
comprises the statement of financial position as at 31 August 2014 and the statement of profit or loss,
statement of changes in equity and statement of cash flows for the year ended on that date, a summary of
significant accounting policies and other explanatory notes and the statement by members of the Board,
as set out on pages 1 to 15.
Director’s Responsibility for the Financial Report
The directors of the Club are responsible for the preparation and fair presentation of the financial report in
accordance with Australian Accounting Standards – Reduced Disclosure Requirements (including the
Australian Accounting Interpretations) and the Associations Incorporation Act 1981. This responsibility
includes establishing and maintaining internal control relevant to the preparation and fair presentation of
the financial report that is free from material misstatement, whether due to fraud or error; selecting and
applying appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our
audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply
with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain
reasonable assurance whether the financial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial report. The procedures selected depend on the auditor’s judgment, including the assessment
of the risks of material misstatement of the financial report, 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 report 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 the committee, as well as evaluating the overall
presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
Independence
In conducting our audit, we have complied with the independence requirements of Australian professional
ethical pronouncements.
Crowe Horwath Perth is a member of Crowe Horwath International, a Swiss verein. Each member of Crowe Horwath is a separate and
independent legal entity. Liability limited by a scheme approved under Professional Standards Legislation other than for the acts or omissions of
financial services licensees.
INDEPENDENT AUDIT REPORT TO THE MEMBERS OF COTTESLOE GOLF CLUB
(INCORPORATED)
Report on the Financial Report
We have audited the accompanying financial report of Cottesloe Golf Club Inc. (the ‘Club’) which
comprises the statement of financial position as at 31 August 2014 and the statement of profit or loss,
statement of changes in equity and statement of cash flows for the year ended on that date, a summary of
significant accounting policies and other explanatory notes and the statement by members of the Board,
as set out on pages 1 to 15.
Director’s Responsibility for the Financial Report
The directors of the Club are responsible for the preparation and fair presentation of the financial report in
accordance with Australian Accounting Standards – Reduced Disclosure Requirements (including the
Australian Accounting Interpretations) and the Associations Incorporation Act 1981. This responsibility
includes establishing and maintaining internal control relevant to the preparation and fair presentation of
the financial report that is free from material misstatement, whether due to fraud or error; selecting and
applying appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our
audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply
with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain
reasonable assurance whether the financial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial report. The procedures selected depend on the auditor’s judgment, including the assessment
of the risks of material misstatement of the financial report, 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 report 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 the committee, as well as evaluating the overall
presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
Independence
In conducting our audit, we have complied with the independence requirements of Australian professional
ethical pronouncements.
Crowe Horwath Perth is a member of Crowe Horwath International, a Swiss verein. Each member of Crowe Horwath is a separate and
independent legal entity. Liability limited by a scheme approved under Professional Standards Legislation other than for the acts or omissions of
financial services licensees.
