INDEPENDENT AUDIT REPORT
To the Members of Association of Maritime Education and Training Institutions in Asia Pacific
Scope
We have audited the attached financial statements, being a special purpose financial report, of Association of Maritime Education and Training Institutions in Asia Pacific for the year ended 30th June 1999 as set out on pages 1 to 4. The Association's Committee are responsible for the financial statements and have determined that the accounting policies used and described in Note 1 to the financial statements are appropriate to meet the requirements of the committee and are appropriate to meet the needs of the members. We have conducted an independent audit of the financial statements in order to express an opinion on them to the members of Association of Maritime Education and Training Institutions in Asia Pacific. No opinion is expressed as to whether the accounting policies used, and described in Note 1, are appropriate to the needs of the members.
The financial statements have been prepared for distribution to members for the purpose of fulfilling the Committees' financial reporting requirements. We disclaim any assumption of responsibility for any reliance on this report or on the financial statements to which it relates to any person other than the members, or for any purpose other than that for which it was prepared.
Our audit has been conducted in accordance with Australian Auditing Standards. Our procedures included examination, on a test basis, of evidence supporting the amounts and other disclosures in the financial statements and the evaluation of significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all material respects, the financial statements are presented fairly in accordance with the accounting policies described in Note 1 to the financial statements. These policies do not require the application of all Australian Accounting Standards and other mandatory professional reporting requirements.
The audit opinion expressed in this report has been formed on the above basis.
Qualification
As is common for organisations of this type, it is not practicable for Association of Maritime Education and Training Institutions in Asia Pacific to maintain an effective system of internal control over subscriptions and other fund raising activities until their initial entry in the accounting records. Accordingly, our audit in relation to fund raising was limited to amounts recorded.
Audit Opinion
In our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had the limitation discussed in the qualification paragraph not existed:
(a) the financial statements present fairly in accordance with the accounting policies described in Note 1 to the financial statements the financial position of Association of Maritime Education and Training Institutions in Asia Pacific as at 30th June 1999 and the results of its operations for the year then ended;
(b) we obtained the information we required for the audit and the Association kept proper accounting records and other books during the year ended 30th June 1999; and
(c) the rules relating to the administration of the funds of the Association have been observed.
