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Independent audit report to the members of The News Corporation Limited
Matters relating to the Electronic Presentation of the Audited Concise Financial Report
This audit report relates to the concise financial report of The News Corporation Limited (“the parent entity”) for the
year ended 30 June 2004 included on the parent entity’s web site. The parent entity’s directors are responsible for the
integrity of the parent entity’s web site. We have not been engaged to report on the integrity of the parent entity’s web
site. The audit report refers only to the statements named below. It does not provide an opinion on any other information
which may have been hyperlinked to/from these statements. If users of this report are concerned with the inherent risks
arising from electronic data communications they are advised to refer to the hard copy of the audited concise financial
report to confirm the information included in the audited concise financial report presented on this web site.
Scope
The concise financial report and directors’ responsibility
The concise financial report comprises the statement of financial position, statement of financial performance, statement
of cash flows and accompanying notes to the financial statements for the consolidated entity for the year ended 30 June
2004. The consolidated entity comprises both the parent entity and the entities it controlled during the year.
The directors of the parent entity are responsible for preparing a concise financial report that complies with Accounting
Standard AASB 1039 “Concise Financial Reports”, in accordance with the Corporations Act 2001. This includes responsibility
for the maintenance of adequate accounting records and internal controls that are designed to prevent and detect fraud
and error, and for the accounting policies and accounting estimates inherent in the concise financial report.
Audit approach
We conducted an independent audit on the concise financial report in order to express an opinion on it to the members
of the parent entity. Our audit was conducted in accordance with Australian Auditing Standards in order to provide
reasonable assurance as to whether the concise financial report is free of material misstatement. The nature of an audit
is influenced by factors such as the use of professional judgement, selective testing, the inherent limitations of internal
control, and the availability of persuasive rather than conclusive evidence. Therefore, an audit cannot guarantee that all
material misstatements have been detected.
We performed procedures to assess whether in all material respects the concise financial report is presented fairly in
accordance with Accounting Standard AASB 1039 “Concise Financial Reports”. We formed our audit opinion on the basis
of these procedures, which included:
• testing that the information in the concise financial report is consistent with the full financial report, and
• examining, on a test basis, information to provide evidence supporting the amounts, discussion and analysis, and
other disclosures in the concise financial report that were not directly derived from the full financial report.
We have also performed an independent audit of the full financial report of the parent entity for the year ended 30 June
2004. Our audit report on the full financial report was signed on 27 August 2004, and was not subject to any qualification.
For a better understanding of our approach to the audit of the full financial report, this report should be read in
conjunction with our audit report on the full financial report.
Independence
We are independent of the parent entity, and have met the independence requirements of Australian professional ethical
pronouncements and the Corporations Act 2001. In addition to our audit of the full and concise financial reports, we were
engaged to undertake the services disclosed in the notes to the financial statements of the full financial report. The
provision of these services has not impaired our independence.
Audit opinion
In our opinion, the concise financial report of The News Corporation Limited complies with Accounting Standard AASB
1039 “Concise Financial Reports”.
Ernst & Young C N Westworth
Partner
Sydney
27 August, 2004
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