AGRIBEL HOLDINGS LTD FINANCIAL REVIEW 2021
AUDITOR ’ S REPORT
• 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 and company ’ 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 and company ’ 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 and separate 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 and / or the company to cease to continue as a going concern .
• Evaluate the overall presentation , structure and content of the consolidated and separate financial statements , including the disclosures , and whether the consolidated and separate 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 and separate 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 to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence , and where applicable , actions taken to eliminate threats or safeguards applied . From the matters communicated with the directors , we determine those matters that were of most significance in the audit of the consolidated and separate 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 Ernst & Young Inc . has been the auditor of Agribel Holdings Limited for 18 years .
__________________________ Ernst & Young Inc .
Director – Derek Engelbrecht Registered Auditor Chartered Accountant ( SA )
21 July 2021
6 AGRIBEL ANNUAL FINANCIAL REVIEW 2021 Agribel Holdings Limited Reg nr : 1996 / 017629 / 06