Independent Auditor’s Report PO Box 952 Canning Bridge Applecross WA 6153 +61 437 319 423
info@cplcorporate.com.au
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHUNG WAH ASSOCIATION INC. Opinion We have audited the accompanying financial report, being a general purpose financial report of Chung Wah Association Inc. (the “Association”), which comprises the statement of financial position as at 30 June 2018, the statement of profit and loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the Executive Committee’s declaration. In our opinion, the accompanying general purpose financial report of Chung Wah Association Inc is in accordance with the Associations Incorporation Act 2015, including:
(a) giving a true and fair view of the Association’s financial position as at 30 June 2018 and of its performance for the year then ended; and
(b) complying with Australian Accounting Standards and other mandatory professional requirements in Australia. Inherent Uncertainty Regarding Recognition of Income It is not possible for the Chung Wah Association Inc. to establish accounting control over all sources of income prior to its receipts (fundraising and rendering of services, income from schools, Chinese New Year, membership fees and other income) and accordingly, it is not possible for our examination to include audit procedures to extend beyond the amounts of receipts for these types of income as recorded in the records of the Association. Our audit of the type of income referred to above, being income in the form of cash, and the accounting for and applications of such monies was limited to amounts recorded in the financial report. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Association in accordance with the auditor independence requirements of the Association Incorporation Act 2015 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants “the Code” that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Associations Incorporation Act 2015, which has been given to the Executive Committee of the Association, would be in the same terms if given to the members as at the time of this auditor’s report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Responsibilities of the Executive Committee for the Financial Report The Executive Committee of the Association are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Associations Incorporation Act 2015 and for such internal control as the Executive Committee determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.
CHONG PENG LEONG (SHARON LEONG) DIRECTOR | CPL CORPORATE
Registered Company Auditor No. 342131 | CPA | HKICPA
Liability limited by a scheme approved under Professional Standard Legislation
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| The Chung Wah Association Inc. - Annual Report 2017 -2018
