AGRIBEL HOLDINGS LTD FINANCIAL REVIEW 2021
AUDITOR ’ S REPORT
Key Audit Matter
that of the Group . This required specific attention due to its once-off nature .
How the matter was addressed in the audit
Therefore , we have determined the valuation for the above business combinations to be a Key Audit Matter .
Other Information The directors are responsible for the other information . The other information comprises the information included in the 88-page document titled “ Agribel Holdings Limited Financial Review 2021 ”, which includes the Directors ’ Report , and the Company Secretary ’ s Certificate as required by the Companies Act of South Africa . The other information does not include the consolidated or the separate financial statements and our auditor ’ s report thereon .
Our opinion on the consolidated and separate financial statements does not cover the other information and we do not express an audit opinion or any form of assurance conclusion thereon .
In connection with our audit of the consolidated and separate financial statements , our responsibility is to read the other information and , in doing so , consider whether the other information is materially inconsistent with the consolidated and separate financial statements or our knowledge obtained in the audit , or otherwise appears to be materially misstated . If , based on the work we have performed , we conclude that there is a material misstatement of this other information , we are required to report that fact . We have nothing to report in this regard .
Responsibilities of the Directors for the Consolidated and Separate Financial Statements The directors are responsible for the preparation and fair presentation of the 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 misstatement , whether due to fraud or error .
In preparing the consolidated and separate financial statements , the directors are responsible for assessing the group and company ’ s ability to continue as a going concern , disclosing , as applicable , matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group and company or to cease operations , or have no realistic alternative but to do so .
Auditor ’ s Responsibilities for the Audit of the Consolidated and Separate Financial Statements Our objectives are to obtain reasonable assurance about whether the consolidated and separate financial statements as a whole are free from material misstatement , whether due to fraud or error , and to issue an auditor ’ s report that includes our opinion . Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists . Misstatements can arise from fraud or error and are considered material if , individually or in the aggregate , they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated and separate financial statements .
As part of an audit in accordance with ISAs , we exercise professional judgement and maintain professional scepticism throughout the audit . We also :
• Identify and assess the risks of material misstatement of the consolidated and separate 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 .
Agribel Holdings Limited Reg nr : 1996 / 017629 / 06 AGRIBEL ANNUAL FINANCIAL REVIEW 2021
5