Board Responsibilities
and Approval
The annual financial statements have been prepared in accordance with Standards of Generally Recognised Accounting Practice (GRAP) including any interpretations, guidelines and directives issued by the Accounting Standards Board and the requirements of the PFMA.
The annual financial statements are based upon appropriate accounting policies consistently applied and supported by reasonable and prudent judgements and estimates.
The members of the Board acknowledge that they are ultimately responsible for the system of internal financial control established by the entity and place considerable importance on maintaining a strong control environment. To enable the members of the Board to meet these responsibilities, the members of the Board sets standards for internal control aimed at reducing the risk of error or deficit in a cost effective manner. The standards include the proper delegation of responsibilities within a clearly defined framework, effective accounting procedures and adequate segregation of duties to ensure an acceptable level of risk. These controls are monitored throughout the entity and all employees are required to maintain the highest ethical standards in ensuring the entity’s business is conducted in a manner that in all reasonable circumstances is above reproach. The focus of risk management in the entity is on identifying, assessing, managing and monitoring all known forms of risk across the entity. While operating risk cannot be fully eliminated, the entity endeavours to minimise it by ensuring that appropriate infrastructure, controls, systems and ethical behaviour are applied and managed within predetermined procedures and constraints.
The members of the Board have reviewed the entity’s cash flow forecast for the year to 31 March 2026 and, in the light of this review and the current financial position, they are satisfied that the entity has or has access to adequate resources to continue in operational existence for the foreseeable future.
The annual financial statements are prepared on the basis that the entity is a going concern. The members of the Board have no reason to believe that the entity will not be a going concern in the foreseeable future. The financial statements support the viability of the entity.
The external auditors are responsible for independently reviewing and reporting on the entity’s financial statements. The financial statements have been examined by the entity’s external auditors and their report is presented on pages 86 to 90.
The annual financial statements set out on pages 91 to 115, which have been prepared on the going concern basis, together with the Board Report were approved by the Board members on 24 July 2025 and were signed on its behalf by: