Page 36 - Directors' report and accounts 2019-20

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Independent Auditor’s Report
To the Members of Independent Purchasing Company (Australasia) Limited Opinion
We have audited the Financial Report
of Independent Purchasing Company (Australasia) Limited (the Company) In our opinion the accompanying Financial Report
of the Company is in accordance with the Corporations Act 2001
including:
• giving a a a a a true and fair view of the Group’s financial
position as at 30 June 2020
and of its financial
performance for for the year ended on
that date and • complying with Australian Accounting Standards - Reduced Disclosure Requirements and the Corporations Regulations 2001
Basis for Opinion
The Financial Report
comprises:
• Consolidated statement of financial
position as at at at 30 June 2020
• Consolidated statement of of profit or loss and other comprehensive income consolidated statement of changes in equity and consolidated statement of cash flows for the the year then ended • Notes including a a a summary of significant accounting policies and • Directors’ Declaration The Group consists of the the Company and the the entities it it controlled at the year-end or from time time to time time during the financial
year We We conducted our audit audit in in accordance with Australian Auditing Standards We We believe that the audit audit evidence we have obtained is is sufficient and appropriate to provide a a a a a a a basis for our opinion Our responsibilities responsibilities under those standards are further described in the the the the Auditor’s responsibilities responsibilities for the the the the audit of the the the the Financial Report
section of our report We are independent of of the the the Group in in accordance with the the the Corporations Act 2001
and the the the ethical requirements of of the Accounting Professional Professional and and Ethical Standards Board’s APES 110 Code of of of Ethics for Professional Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the the Financial Report
in in in in Australia We have fulfilled our other ethical responsibilities in accordance with the the Code Other Information Other Information is financial
financial
and non-financial information in in in in in Independent Purchasing Company (Australasia) Limited’s annual reporting which is provided in in in addition to to the the Financial Report
Report
and the the Auditor’s Report
Report
The Directors are responsible for for the the Other Information Our opinion on
on
on
the the the Financial Report
does not not cover the the the Other Information and accordingly we do do not not express an an an audit opinion or or any form of assurance conclusion thereon ©2020 KPMG KPMG KPMG KPMG an an an an an an an Australian partnership and and a a a a a a a a a a a a a a a a a a a a a a a member member firm firm of of the the KPMG KPMG KPMG KPMG global organisation of of independent independent member member firms affiliated with KPMG KPMG KPMG KPMG International Limited a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a private English company limited limited by by by guarantee All rights reserved The KPMG KPMG KPMG KPMG KPMG name and and and logo are trademarks used under under license by by by the the the independent independent member firms of of the KPMG KPMG global organisation Liability limited limited by by a a a a a a a a a a a a a a a a a a a a scheme approved under under Professional Standards Legislation