AS AT 30 JUNE 2011
98
Independent Auditor’s Report
FlexiGroup Limited and its controlled entities
Independent Auditor’s report
30 June 2011
Liability limited by a scheme approved under Professional Standards Legislation
97
PricewaterhouseCoopers
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SYDNEY NSW 1171
DX 77 Sydney
Australia
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www.pwc.com/au
Independent auditor’s report to the members of
FlexiGroup Limited
Report on the financial statements
We have audited the accompanying financial statements of FlexiGroup Limited (the company), which
comprises the balance sheet as at 30 June 2011, and the income statement, the statement of
comprehensive income, statement of changes in equity and statement of cash flows for the year ended on
that date, a summary of significant accounting policies, other explanatory notes and the directors’
declaration for FlexiGroup Limited (the consolidated entity). The consolidated entity comprises the company
and the entities it controlled at the year’s end or from time to time during the financial year.
Directors’ responsibility for the financial statements
The directors of the company are responsible for the preparation of the financial statements that give a true
and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for
such internal control as the directors determine is necessary to enable the preparation of the financial
statements that are free from material misstatement whether due to fraud or error. In Note 1(a), the
directors also state, in accordance with Accounting Standard AASB 101 Presentation of Financial
Statements, that the financial statements comply with International Financial Reporting Standards.
Auditor’s responsibility
Our responsibility is to express an opinion on the financial statements 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 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 the directors, as well as evaluating the overall
presentation of the financial statements.
Our procedures include reading the other information in the Annual Report to determine whether it contains
any material inconsistencies with the financial statements.