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Annual Financial Statements for year ended 30 June 2012
Audit Opinion
Independent Auditor’s Report
to the Members of the City of Port Adelaide Enfield
We have audited the accompanying financial report of the City of Port Adelaide Enfield, which
comprises the statement of financial position as at 30 June 2012, the statement of comprehensive
income, the statement of cash flows and the statement of changes in equity for the year then
ended, notes comprising a summary of significant accounting policies and other explanatory
information, and the Certification of the Fiancial statements as set out on pages 34 to 60.
Management’s Responsibility for the Financial Report
Management is responsible for the preparation of the financial report in accordance with
Australian Accounting Standards, and the Local Government Act 1999, the Local Government
(Financial Management) Regulations 2011 and for such internal control as Management
determines is necessary to enable the preparation of the financial report that is free from material
misstatement, whether due to fraud or error.
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 Management, 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 opinion.
Opinion
In our opinion, the financial report of the City of Port Adelaide Enfield presents fairly, in all material
respects, the Council’s financial position as at 30 June 2012 and its financial performance for the
year then ended in accordance with Australian Accounting Standards and the
Local Government
Act 1999 and the Local Government (Financial Management) Regulations 2011.
Deloitte Touche Tohmatsu
P J Woods
Partner
Chartered Accountants
Adelaide, 2 November 2012