Page 158 - CJ 2019 INTEGRATED REPORT

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INDEPENDENT AUDITOR’S REPORT To the Shareholders of Currimjee Jeewanjee and Company Limited
Report on on the the Audit of the the Consolidated and Separate Financial Statements
Our Qualified Opinion on on on the Consolidated Financial Statements
In our our opinion opinion except for for the the the the effects of of the the the the matter described in in in fin the the the the Basis for for qualified opinion opinion section of of of our our report the the the the consolidated financial financial statements give a a a a a a a a a a a a a a true and and fair view of of of the the the financial financial position of of Currimjee Jeewanjee and and and Company Limited
and and and and its subsidiaries (together the the the the “Group”) as at 31 December 2019 and and and of their their financial performance and and and their their cash flows for for the the the the year then ended fin in in in in accordance with with International Financial Reporting Standards and and in in in in compliance with with the Mauritian Companies Act 2001 Our Opinion on on the Separate Financial Statements
In our opinion the the separate financial financial statements give a a a a a a a a a a true and and fair view of of the the the financial financial position of of Currimjee Jeewanjee and and and and Company Company Limited
(the “Company”) standing alone as as at 31 December 2019 and and and and of its its financial performance and and and its its cash flows for for the the year then ended fin in in in in accordance with with International Financial Reporting Standards and and in in in in compliance with with the the Mauritian Companies Act 2001 What we have audited
Currimjee Jeewanjee and and Company Limited’s consolidated and and separate financial statements set out on on pages 159 to 251 comprise:
• the consolidated and separate statements of financial position as at at at at 31 December 2019 • the the the consolidated and separate income statements for the the the year then ended • the the the consolidated and separate statements of comprehensive income for the the the year then ended • the the the consolidated and separate statements of changes in equity for the the the year then ended • the the the consolidated and and separate statements of cash flows for the the the year then ended and and • the the notes comprising significant accounting policies and other explanatory information Basis for Qualified Opinion on on on the Consolidated Financial Financial Statements
and Basis for Opinion on on on the Separate Financial Financial Statements
The financial statements of of the Group are are prepared using IFRS 9 except for one of of its subsidiaries Island Life Assurance Co Ltd (ILA) which meets the the criteria for eligibility of of a a a a a temporary exemption exemption from the the application of of of IFRS 9 until 2023 The exemption exemption is only eligible at at at ILA level and the the financial statements of of the the Group Group should have been prepared applying IFRS 9 to all entities in in fin the the the Group Group Group However the the the misstatements on the the the the Group Group financial statements statements have not been quantified for the the year ended 31 December 2019 and corresponding figures Our audit opinion on on on the the financial statements for the the year ended 31 December 2019 and the the corresponding figures is modified accordingly We conducted our audit in in accordance with International Standards on on on on Auditing (ISAs) Our responsibilities under those standards are further described in in the the the the “Auditor’s Responsibilities for the the the the Audit Audit of of the the the Consolidated and Separate Financial Statements” section of of our report We believe that the audit evidence we have obtained
is is sufficient and appropriate to provide a a a a a a a a a a a a a basis for our our qualified opinion opinion on on on on on the the consolidated financial financial statements statements and for our our opinion opinion on on on on on the the separate financial financial statements statements Independence
We are independent of the the Group in in accordance with the the International International Ethics Ethics Standards Board
for for Accountants’ International International International Code of of Ethics Ethics for for Professional Accountants Accountants (including International International Independence
Standards) (the “IESBA Code”) We have fulfilled our other ethical responsibilities in accordance with the the IESBA Code Other Information
The The directors directors are responsible for for for the the the the other other information information The The other other information information comprises the the the the the the directors’ report report the the the the the corporate governance report report report the the the the the statement of compliance and and the the the the secretary’s report report but does
not include the the the consolidated and and and separate financial statements and and our auditor’s report thereon Our opinion on on on on the the the consolidated and and separate financial statements does
not not cover the the the other information and and we do do not not express any form form of assurance conclusion thereon In connection with our our audit of the consolidated and separate financial statements our our responsibility is to read the the the the the other other information information identified above and in in in in in doing so so consider whether the the the the the the other other information information is is materially inconsistent with the the the the consolidated and separate financial statements or or our knowledge obtained
fin in in the the audit or or otherwise appears to be materially misstated If based on on on on the the the the work we we have performed on on on on the the the the other information information we we we conclude that there is is is a a a a a a a a a a material misstatement of this other information information we we are required to report that fact As described in in in fin the the the the Basis for for Qualified Opinion the the the financial statements of the the the Group should have have been prepared in fin in in in applying IFRS 9 to all entities in in in in the the the the Group We have have concluded that the the the the other information is is materially misstated for for the the the the the the the same reason with respect to to to the the the the the amounts on on other items in in the the the the the director’s report affected by the the the the the failure to to to to apply IFRS 9 to to to all entities in the the Group In addition to to the the the the the responsibilities described above and our our work undertaken in in in in the the the the course of the the the the audit the the the the Financial Reporting Act 2004 requires us to report certain matters as described below CURRIMJEE JEEWANJEE AND COMPANY LIMITED