PTCACCOUNTANTS AUDITORS & ADVISORS
Level1.100 Hutt StreetAdelaide SA 5000
Australia
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Tel: 0881792800
Fax: 0881792885
WWW. pitcher. comauenquiries@pitcher-sacom. au
Pitcher Partners is an association of Independent firmsAdelaide I Brisbane I Melbourne I Newcastle I Perth I Sydney
In relation to the independent audit for the year ended 30 June 201.4, to the best of myknowledge and belief there have been:
in No contraventions of the auditor independence requirements of the Coinorotions Act2001; and
(ii) No contraventions of any applicable code of professional conduct.
AUDITOR'S INDEPENDENCE DECLARATION
To THE DIRECTORS OF TKD SPORTS TAEKwoNDO AUSTRALIA LTD
PA TN I^..
TKD SPORTS TAEKWONDO AUSTRALIA LTD
ABN 69,672,6033
Postal Address
PO Box 7006. Hutt StreetAdelaide SA 5001
Australia
A P Faulkner
Principal
Date: 25 July 201.6
Pitcher Partners SA Pty Ltd ABN 36/12219735Liability limited by a scheme approved under Professional Standards Legislation
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We have audited the accompanying financial report of TKD Sports Taekwondo Australia Ltd,which comprises the statement of financial position as at 30 June 2014, the statement ofcomprehensive income, statement of changes in equity and statement of cash flows for theyear then ended, notes comprising a summary of significant accounting policies and otherexplanatory information, and the directors' declaration.
Directors' Responsibility for the FinonciolReport
The directors of the company are responsible for the preparation of the financial report thatgives a true and fair view in accordance with Australian Accounting Standards - ReducedDisclosure Requirements and the Coinorotions Act 2001 and for such internal control as thedirectors determine is necessary to enable the preparation of the financial report that givesa true and fair view and is free from material misstatement, whether due to fraud or error.
Auditorls Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. Weconducted our audit in accordance with Australian Auditing Standards. Those standardsrequire that we comply with relevant ethical requirements relating to audit engagementsand plan and perform the audit to obtain reasonable assurance about whether the financialreport is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial report. The procedures selected depend on the auditor'sjudgement, including the assessment of the risks of material misstatement of the financialreport, whether due to fraud or error. In making those risk assessments, the auditorconsiders internal control relevant to the company's preparation of the financial report thatgives a true and fair view in order to design audit procedures that are appropriate in thecircumstances, but riot for the purpose of expressing an opinion on the effectiveness of thecompany's internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of accounting estimates made by thedirectors, as well as evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.
Pitcher Partners SA Pty Ltd ABN 36/1221973SLiability limited by a scheme approved under Professional Standards Legislation
ACCOUNTANTS AUDITORS & ADVISORS
Level1,100 Hutt StreetAdelaide SA 5000
Australia
TKD SPORTS TAEKWONDO AUSTRALIA LTD
INDEPENDENT AUDITOR'S REPORT
To THE MEMBERS OF
TKD SPORTS TAEKWONDO AUSTRALIA LTD
ABN: 69,672,6033
Tel: 0881792800
Fax: 0881792885
WWW. pitcher. comauenquiries@pitcher-sacom. au
Pitcher Partners is an association of Independent firmsAdelaide I Brisbane I Melbourne I Newcastle I Perth I Sydney
Postal Address
PO Box 7006, Hutt StreetAdelaide SA 5001
Australia
pe d I Meinbe, ,I
BAKER TILLYINTE RNATIO NAL
offices throughout the world
Independence
In conducting our audit, we have complied with the independence requirements of theCorporotions Act 2001.
TKD SPORTS TAEKWONDO AUSTRALIA LTD
Busts for Discloimer of Opinion
The company was registered on 7 January 201.4, and the period ended 30 June 201.4 is thefirst financial period of the company. Management have not retained relevantdocumentation to support the transactions entered into the accounting system during thisfirst financial period. This resulted in insufficient recording and documentation oftransactions throughout the financial period.
We were not provided with bank statements for the period from 23 January 201.4 to IMarch 201.4, for a bank account which had an overdrawn balance of $41, at 30 June 201.4.This account has been closed subsequent to the balance sheet date. In the absence of bankstatements, we were unable to determine whether any adjustments might have beennecessary in respect of elements making up the statement of comprehensive income,statement of financial position, statement of changes in equity and statement of cash flows.
We were unable to obtain sufficient appropriate audit evidence to substantiate thefollowing balances and transactions disclosed in the 201.4 financial report by TKD SportsTaekwondo Australia Ltd:
Statement of Financial Position
. Payables
. Other liabilities
Statement of Comprehensive Income. Revenue and other income
. Expenses
INDEPENDENT AUDITOR'S REPORT
To THE MEMBERS OF
TKD SPORTS TAEKWONDO AUSTRALIA LTD
ABN: 69,672,6033
^. PITCHER PARTNERS
Consequently, we are unable to determine whether any adjustments are necessary inrespect of the elements making up the statement of comprehensive income, statement offinancial position, statement of changes in equity and statement of cash flows.
Discloimer of Opinion
Because of the significance of the matters described in the Basis for Disclaimer of Opinionparagraph, we have not been able to obtain sufficient appropriate audit evidence to providea basis for an audit opinion. Accordingly, we do not express an opinion on the financialreport
TKD SPORTS TAEKWONDO AUSTRALIA LTD
INDEPENDENT AUDITOR'S REPORT
To THE MEMBERS OF
TKD SPORTS TAEKWONDO AUSTRALIA LTD
ABN: 69,672,6033
A P FAULKNER
Principal
Date : 25 July 201.6
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PITCHER PARTNERS
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