FirstChoice Wholesale Investments part 2 - Colonial First State

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pwc Independent auditor's report to the unitholders of Colonial First State - FirstChoice Wholesale Investment Funds Report on the financial report We have audited the accompanying financial report of Colonial First State - FirstChoice Wholesale Investment Funds (the Funds), which comprises the balance sheets as at 30 June 2013, the statements of comprehensive income, statements of changes in equity and cash flow statements for the year ended on that date, a summary of significant accounting policies, other explanatory notes and the directors' declaration for both the Funds and the consolidated entities. The consolidated entities comprise the Funds and the entities they controlled at year's end or from time to time during the financial year. The Colonial First State - FirstChoice Wholesale Investment Funds comprise the following funds: Commonwealth Multi-Manager Moderate Fund Commonwealth Multi-Manager Fixed Interest Fund Commonwealth Multi-Manager Property Securities Fund Commonwealth Multi Manager Global Property Securities Fund Commonwealth Multi Manager Global Infrastructure Securities Fund Commonwealth Multi-Manager Australian Share Fund Commonwealth Australian Boutique Shares Blended Commonwealth Multi-Manager Small Companies Fund Commonwealth Multi-Manager Global Shares Fund Commonwealth Multi Manager Asian Share Fund Commonwealth Multi Manager Emerging Markets Fund Colonial First State Wholesale Conservative Fund Commonwealth Diversified Fund 1 Commonwealth Diversified Fund 5 Colonial First State Wholesale Diversified Fund Commonwealth Diversified Fund 6 Colonial First State Wholesale Diversified Fixed Interest Fund Colonial First State Wholesale Global Corporate Debt Fund Commonwealth Specialist Fund 19 Colonial First State Wholesale Enhanced Yield Fund Commonwealth Fixed Interest Fund 14 Commonwealth Diversified Fund 7 Colonial First State Wholesale Cash Fund PricewaterhouseCoopers, ABN 52 780 433 757 Darling Park Tower 2, 201 Sussex Street, GPO BOX 2650, SYDNEY NSW 1171 T: +61 2 8266 0000, F: +61 2 8266 9999, www.pwc.com.au Uability limited by a scheme approved under Professional Standards Legislation. Page 363
pwc Directors' responsibility for the financial report The directors of Colonial First State Investments Limited (the Responsible Entity) 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, the directors also state, in accordance with Accounting Standard AASB 101 Presentation of Financial Statements, that the financial statements comply with International Fiiwncial 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 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 opinions. 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 Colonial First State - FirstChoice Wholesale Investment Funds is in accordance with the Corporations Act 2001, including: (i) giving a true and fair view of the Funds' and consolidated entities' financial positions as at 30 June 2013 and of their 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, and Page 364
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Page 367: COLONIAL FIRST STATE - FIRSTCHOICE
Page 372: Enquiries Investor Services: 13 13
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FirstChoice Wholesale Investments part 2 - Colonial First State

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