Annual Report 2011-2012.pdf - Lane Cove 12ft Sailing Skiff Club

Lane Cove 12ft Sailing Skiff ClubAUDIT REPORT TO MEMBERSSCOPEWe have audited the financial statements of the Lane Cove 12ft Sailing Skiff Club Inc set out on the preceding pages forthe year ended 30 April 2012. The Committee is responsible for the financial statements. We have conducted anindependent audit of these financial statements in order to express an opinion on them to members.Our audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurancewhether the financial statements are free of material misstatement. Our procedures included examination on a test basis,of evidence of accounting policies and significant accounting estimates. These procedures have been undertaken to forman opinion whether, in material respects, the financial statements presented, fairly in accordance with AccountingStandards and other mandatory professional reporting requirements (Urgent Issues Group Consensus Views), a viewwhich is consistent with our understanding of the club’s financial position and the results of its operations. The income ofthe club and in particular the canteen sales are of a nature where controls and audit checks are impractical. Thereforewe have been unable to conduct an audit of this income although we have no reason to doubt the veracity of the figuresproduced.The audit opinion expressed in this report has been formed on the above basis.AUDIT OPINIONIn our opinion, the financial statements present fairly in accordance with the applicable Accounting Standards and othermandatory professional reporting requirements, the financial position of the Lane Cove 12ft Sailing Skiff Club Inc as at 30April 2012 and the results of its operations and cashflows for the year then ended.1 May 2012EDMONDSON & CO7 Fourth AveW R EDMONDSON Lane Cove NSW 2066Glenn Farquhar and Dave Lusty in Hood took out the HC Press Memorial TrophyThanks to Contact and Clarendon Printingwww.LC12ftSSC.org.au Page 35