Page 42 - Axiom Mining Limited 2012 Annual Report

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to the members of Axiom Mining Limited
Axiom Mining Limited
Independent Audit Report
Independent auditor’s report to the shareholders of
Axiom Mining Limited
(Incorporated in Hong Kong with limited liability)
We have audited the consolidated financial statements of Axiom Mining Limited (the “company”) set out on pages 42 to 73,
which comprise the consolidated and company balance sheets as at 30 September 2012, and the consolidated and company
income statements, the consolidated and company statements of comprehensive income, the consolidated and company
statements of changes in equity, and the consolidated and company cash flow statements for the year then ended, and a
summary of significant accounting policies and other explanatory information.
Directors’ Responsibility for the Consolidated Financial Statements
The directors of the company are responsible for the preparation of the consolidated financial statements that give a true and
fair view in accordance with International Financial Reporting Standards issued by the International Accounting Standards
Board and the Hong Kong Companies Ordinance, and for such internal control as the directors determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on the consolidated financial statements based on our audit. This report is made
solely to you, as a body, in accordance with section 141 of the Hong Kong Companies Ordinance, and for no other purpose.
We do not assume responsibility towards or accept liability to any other person for the contents of this report.
We conducted our audit in accordance with International Standards on Auditing issued by International Federation of
Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated
financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks
of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s preparation and true and fair presentation of the
consolidated financial statements 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 consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.