Coca-Cola Amatil - Independent Auditor's Report

Coca-Cola Amatil 2007 Annual Report

We have audited the accompanying financial report of Coca-Cola Amatil Limited, which comprises the balance sheet as at 31 December 2007, and the
income statement, statement of changes in equity and cash flow statement for the year ended on that date, a summary of significant accounting policies,
other explanatory notes and the directors’ declaration of the consolidated entity comprising the company and the entities it controlled at the year’s end or
from time to time during the financial year.
The company has disclosed information as required by paragraphs Aus 25.4 to Aus 25.7.2 of Accounting Standard 124 Related Party Disclosures
(“remuneration disclosures”), under the heading “Remuneration report” on pages 18 to 41 of the directors’ report, as permitted by Corporations Regulation
2M.6.04.
Directors’ Responsibility for the Financial Report
The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with the Australian Accounting
Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining
internal controls relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or
error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. The directors are
also responsible for the remuneration disclosures contained in the directors’ report.
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. These Auditing 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 and that the remuneration disclosures comply with
Accounting Standard AASB 124 Related Party Disclosures.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected
depend on our judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making
those risk assessments, we consider internal controls 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
controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the
directors, 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.
Independence
In conducting our audit we have met the independence requirements of the Corporations Act 2001. We have given to the directors of the company a
written Auditor’s Independence Declaration, a copy of which is included in the directors’ report. In addition to our audit of the financial report and the
remuneration disclosures, we were engaged to undertake the services disclosed in the notes to the financial statements. The provision of these services
has not impaired our independence.
Auditor’s Opinion
In our opinion:
1. the financial report of Coca-Cola Amatil Limited is in accordance with the Corporations Act 2001, including:
(i) giving a true and fair view of the financial position of Coca-Cola Amatil Limited and the consolidated entity at 31 December 2007 and of their
performance for the year ended on that date; and
(ii) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001.
2. the remuneration disclosures under the heading “Remuneration report” that are contained on pages 18 to 41 of the directors’ report comply with
Accounting Standard AASB 124 Related Party Disclosures.
Ernst & Young Trent van Veen
Partner
Sydney
13 February 2008
Liability limited by a scheme approved under
Professional Standards Legislation
CCA Annual Report 2007 113
Independent auditor’s report to the members of Coca-Cola Amatil Limited
We have audited the accompanying financial report of Coca-Cola Amatil Limited, which comprises the balance sheet as at 31 December 2007, and the
income statement, statement of changes in equity and cash flow statement for the year ended on that date, a summary of significant accounting policies,
other explanatory notes and the directors’ declaration of the consolidated entity comprising the company and the entities it controlled at the year’s end or
from time to time during the financial year.
The company has disclosed information as required by paragraphs Aus 25.4 to Aus 25.7.2 of Accounting Standard 124 Related Party Disclosures
(“remuneration disclosures”), under the heading “Remuneration report” on pages 18 to 41 of the directors’ report, as permitted by Corporations Regulation
2M.6.04.
Directors’ Responsibility for the Financial Report
The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with the Australian Accounting
Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining
internal controls relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or
error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. The directors are
also responsible for the remuneration disclosures contained in the directors’ report.
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. These Auditing 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 and that the remuneration disclosures comply with
Accounting Standard AASB 124 Related Party Disclosures.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected
depend on our judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making
those risk assessments, we consider internal controls 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
controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the
directors, 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.
Independence
In conducting our audit we have met the independence requirements of the Corporations Act 2001. We have given to the directors of the company a
written Auditor’s Independence Declaration, a copy of which is included in the directors’ report. In addition to our audit of the financial report and the
remuneration disclosures, we were engaged to undertake the services disclosed in the notes to the financial statements. The provision of these services
has not impaired our independence.
Auditor’s Opinion
In our opinion:
1. the financial report of Coca-Cola Amatil Limited is in accordance with the Corporations Act 2001, including:
(i) giving a true and fair view of the financial position of Coca-Cola Amatil Limited and the consolidated entity at 31 December 2007 and of their
performance for the year ended on that date; and
(ii) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001.
2. the remuneration disclosures under the heading “Remuneration report” that are contained on pages 18 to 41 of the directors’ report comply with
Accounting Standard AASB 124 Related Party Disclosures.
Ernst & Young Trent van Veen
Partner
Sydney
13 February 2008
Liability limited by a scheme approved under
Professional Standards Legislation

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