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McPHERSON’S LIMITED

 ANNUAL REPORT 2015

INDEPENDENT AUDITOR’S REPORT TO  

THE MEMBERS OF McPHERSON’S LIMITED  

Independent auditor’s report to the members of McPherson’s Limited

Report on the financial report 

We have audited the accompanying financial report of McPherson’s Limited (the company), which comprises the consolidated balance 

sheet as at 30 June 2015, the consolidated statement of comprehensive income, consolidated statement of changes in equity and 

consolidated 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 McPherson’s Limited and Controlled Entities (the consolidated entity). The consolidated entity 

comprises the company and the entities it controlled at year’s end or from time to time during the financial year.
Directors’ responsibility for the financial report

The directors of the company are responsible for the preparation of the financial report that gives 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 report that is 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 report based on our audit. We conducted our audit in accordance with 

Australian Auditing Standards. Those 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 report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The 

procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial 

report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the 

consolidated entity’s preparation and fair presentation of the financial 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 financial report.
We believe that the audit evidence we have obtained is sufficient 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

In our opinion:
(a) the financial report of McPherson’s Limited is in accordance with the Corporations Act 2001, including:

(i) 

giving a true and fair view of the consolidated entity’s financial position as at 30 June 2015 and of its 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 and notes also comply with International Financial Reporting Standards as disclosed in Note 1(A).
Report on the Remuneration Report

We have audited the remuneration report included in pages 25 to 33 of the directors’ report for the year ended 30 June 2015. 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 Australian Auditing Standards.
Auditor’s opinion

In our opinion, the remuneration report of McPherson’s Limited for the year ended 30 June 2015 complies with section 300A of the 

Corporations Act 2001.

PricewaterhouseCoopers

Paddy Carney

Partner

Sydney 

10 September 2015