for the year ended 30 June 2014
The directors are responsible for the preparation and integrity of the annual financial statements and related financial information that fairly present the state of affairs and the results of Sun International Limited and that of the Group. The directors also have oversight for the information included in this Integrated Annual Report and are responsible for both its accuracy and its consistency with the annual financial statements.
The annual financial statements as these appear on the Company’s website have been prepared in accordance with the International Financial Reporting Standards (IFRS) and in the manner required by the Companies Act No 71 of 2008 together with the JSE Listings Requirements. These are based on appropriate accounting policies, which have been consistently applied and which are supported by reasonable and prudent judgements and estimates and fairly present the state of affairs of the Group as at 30 June 2014.
The directors acknowledge that they are ultimately responsible for the process of risk management and the system of internal financial controls established by the Group and accordingly place considerable importance on maintaining a strong control environment.
The directors are of the opinion, based on the information and explanations given by management, the internal auditors, external auditors and the Group's various risk, governance, compliance and other reporting processes, that the risk management processes and the system of internal controls provide reasonable assurance in all key material aspects that the financial records may be relied on for the preparation of the financial statements. However, any system of internal financial controls can provide only reasonable and not absolute assurance against material misstatement or loss.
Following due consideration of the operating budgets, an assessment of the Group’s debt covenants and funding requirements, solvency and liquidity assessments, the major risks, outstanding legal, insurance and taxation issues, and other pertinent matters presented by management, the directors are of the view that the Company and the Group have adequate resources and the ability to continue operations for the foreseeable future. For these reasons, the financial statements have been prepared on a going concern basis.
The financial statements have been audited by the Group’s independent external auditors, PricewaterhouseCoopers Inc., who have been given unrestricted access to all financial records and related information including the minutes of shareholder, board and board committee meetings. PricewaterhouseCoopers Inc.'s unmodified audit report can be accessed online.
The annual financial statements which were prepared under the supervision of the chief financial officer, Mr AM Leeming, and which appears online were approved by the board of directors on 16 October 2014 and signed on its behalf by:
|MV Moosa||GE Stephens|
|Chief Financial Officer|
16 October 2014