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Hyprop Investments Limited
Group annual financial statements 2016
INDEPENDENT AUDITOR’S REPORT TO THE
SHAREHOLDERS OF HYPROP INVESTMENTS LIMITED
Report on the financial statements
We have audited the consolidated financial statements of Hyprop
Investments Limited, which comprise the statements of financial
position at 30 June 2016, and the statements of profit or loss and other
comprehensive income, changes in equity and cash flows for the year
then ended, and the notes to the financial statements which include a
summary of significant accounting policies and other explanatory
notes, as set out on pages 98 to 154.
Directors’ responsibility for the financial statements
The company’s directors are responsible for the preparation and fair
presentation of these 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 financial
statements that are free from material misstatement, whether due to
fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these financial statements
based on our audit. We conducted our audit in accordance with
International Standards on Auditing. Those standards require that we
comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about 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 management, as well
as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, these financial statements present fairly, in all material
respects, the consolidated financial position of Hyprop Investments
Limited at 30 June 2016, and its consolidated financial performance and
consolidated cash flows for the year then ended in accordance with
International Financial Reporting Standards and the requirements of
the Companies Act of South Africa.
Other reports required by the Companies Act
As part of our audit of the financial statements for the year ended
30 June 2016, we have read the directors’ report, the audit committee’s
report and the company secretary’s declaration for the purpose of
identifying whether there are material inconsistencies between these
reports and the audited financial statements. These reports are the
responsibility of the respective preparers. Based on reading these
reports we have not identified material inconsistencies between these
reports and the audited financial statements. However, we have not
audited these reports and accordingly do not express an opinion on
these reports.
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
auditor of Hyprop for one year.
KPMG Inc.
Registered Auditor
Per Peter Macdonald
Chartered Accountant (SA)
Registered Auditor
Director
2 September 2016
KPMG Crescent
85 Empire Road
Parktown
2193
for the year ended 30 June 2016