Qantas 2009 Annual Report Download - page 152

150 Qantas Annual Report 2009
Independent Auditor’s Report
totheMembersofQantasAirwaysLimited
REPORT ON THE FINANCIAL REPORT
WehaveauditedtheaccompanyingnancialreportofQantasAirwaysLimited(Qantas),whichcomprisesthebalancesheetsasat30June2009,andthe
income statements, statements of changes in equity and cash flow statements for the year ended on that date, a description of significant accounting
policiesandotherexplanatorynotes1to35andthedirectors’declarationofbothQantasandtheQantasGroupcomprisingQantasandtheentitiesit
controlledattheyear’sendorfromtimetotimeduringthenancialyear.
Directors’ responsibility for the financial report
ThedirectorsofQantasareresponsibleforthepreparationandfairpresentationofthenancialreportinaccordancewithAustralianAccountingStandards
(includingtheAustralianAccountingInterpretations)andtheCorporationsAct2001.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.Innote1(A),the
directorsalsostate,inaccordancewithAustralianAccountingStandardAASB101PresentationofFinancialStatements,thatthenancialreport,
comprisingthenancialstatementsandnotes,complieswithInternationalFinancialReportingStandards.
Auditor’s responsibility
Ourresponsibilityistoexpressanopiniononthenancial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nancialreportisfreefrommaterialmisstatement.
Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthenancialreport.Theproceduresselected
dependontheauditor’sjudgement,includingtheassessmentoftherisksofmaterialmisstatementofthenancial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nancial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directors,aswellasevaluatingtheoverallpresentationofthenancialreport.
Weperformedtheprocedurestoassesswhetherinallmaterialrespectsthenancialreportpresentsfairly,inaccordancewiththeCorporationsAct2001
and Australian Accounting Standards (including the Australian Accounting Interpretations), a view which is consistent with our understanding of the
Company’sandtheGroup’snancialpositionandoftheirperformance.
Webelievethattheauditevidencewehaveobtainedissufcientandappropriatetoprovideabasisforourauditopinion.
Independence
In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001.
Auditor’s opinion on the financial report
In our opinion:
a) the financial report of Qantas Airways Limited is in accordance with the Corporations Act 2001, including:
(i) givingatrueandfairviewoftheCompany’sandtheGroup’snancialpositionasat30June2009andoftheirperformancefortheyearended
on that date; and
(ii) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001.
b) thefinancialreportalsocomplieswithInternationalFinancialReportingStandardsasdisclosedinnote1(A).
REPORT ON THE REMUNERATION REPORT
Wehaveauditedtheremunerationreportincludedinthedirectors’reportfortheyearended30June2009.Thedirectorsofthecompanyareresponsible
forthepreparationandpresentationoftheremunerationreportinaccordancewithSection300AoftheCorporationsAct2001.Ourresponsibilityisto
expressanopinionontheremunerationreport,basedonourauditconductedinaccordancewithauditingstandards.
Auditor’s opinion on the remuneration report
In our opinion, the remuneration report of Qantas Airways Limited for the year ended 30 June 2009, complies with Section 300A of the Corporations Act 2001.
KPMG Martin Sheppard
Sydney, 31 August 2009 Partner