Qantas Analysis

Topics: Financial statements, Income statement, Balance sheet Pages: 3 (683 words) Published: June 16, 2012
THE QANTAS GROUP

108

Independent Auditor’s Report
to the Members of Qantas Airways Limited REPORT ON THE FINANCIAL REPORT We have audited the accompanying Financial Report of Qantas Airways Limited (Qantas), which comprises the Consolidated Balance Sheet as at 30 June 2011, and Consolidated Income Statement, Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity and the Consolidated Cash Flow Statement for the year ended on that date, notes 1 to 36 comprising a summary of significant accounting policies and other explanatory information and the Directors’ declaration of the Group comprising Qantas and the entities it controlled at the year’s end or from time to time during the financial year (Qantas Group). Directors’ Responsibility for the Financial Report The Directors of Qantas 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 Australian Accounting Standard AASB 101 Presentation of Financial Statements, that the Financial Statements of the Group 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. 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 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...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Auditing Assigment Qantas Case Essay
  • Qantas Research Paper
  • Qantas Fin Analysis Essay
  • Qantas Research Paper
  • Auditing assignment
  • qantas industry Essay
  • Planning Concept on Qantas Airlines Essay
  • Essay on Qantas Core Competencies

Become a StudyMode Member

Sign Up - It's Free