ANNUAL REPORT - Franklin Templeton Investments

MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL REPORTING
The accompanying financial statements have been prepared by Franklin Templeton Investment Corp., (the “Manager), as Manager of
Templeton Growth Fund., Ltd (the “Fund”) and are approved by the Board of Directors of the Fund.
The Manager is responsible for the information and representations contained in these financial statements and the other sections of the
Annual Report. The Manager also maintains appropriate processes to ensure that relevant and reliable financial information is produced.
The financial statements have been prepared in accordance with accounting principles generally accepted in Canada and include certain
amounts that are based on estimates and judgments. The significant accounting policies which the Manager believes are appropriate for
the Fund are described in Note 2 to the financial statements. Financial information published with the Annual Report is consistent with
that in the financial statements.
The Board of Directors is responsible for reviewing and approving the financial statements and overseeing management’s performance of
its financial reporting. The Board of Directors appoints an Audit Committee comprised of a majority of non-management Directors. The
Audit Committee reviews the financial statements, adequacy of internal controls, the audit process and financial reporting with management
and the external auditors. The Audit Committee reports to the Board of Directors prior to the approval of the audited financial statements
for publication.
PricewaterhouseCoopers LLP are the external auditors of the Fund, appointed by the shareholders. They have audited the financial statements
in accordance with Canadian generally accepted auditing standards to enable them to express to the shareholders their opinion on
the financial statements. Their report is set out on the following page.
D.F. REED
Chief Executive Officer,
Templeton Growth Fund, Ltd.
D.A. BUCHANAN
Treasurer,
Templeton Growth Fund, Ltd.
20 Templeton Growth Fund, Ltd.