2016-12-12 General Committee - Attachment 1 to Item 9 - NBRF Annual Report

Noosa Biosphere Reserve Trust
ABN 12 733 644 586



Independent Audit Report to the members of Noosa Biosphere Reserve
Trust
Report on the Financial Report

We have audited the accompanying financial report, being a special purpose financial report of Noosa Biosphere Reserve
Trust, which comprises the statement of financial position as at 30 June 2016, the statement of profit or loss and other
comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes
comprising a summary of significant accounting policies and other explanatory information, and the responsible persons'
declaration.


Directors' Responsibility for the Financial Report

The directors of Noosa Biosphere Reserve Foundation Ltd, being the corporate trustee of the trust, are responsible for the
preparation of the financial report that gives a true and fair view and have determined that the basis of preparation described
in Note 1 to the financial report is appropriate to meet the requirements of the Australian Charities and Not-for-Profits
Commission Act 2012 (ACNC Act) and the needs of the members. The director's responsibility also includes such internal
control as the directors determine is necessary to enable the preparation of a financial report that gives a true and fair view
and is free from material misstatement, whether due to fraud or error.


Auditor’s Responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We have conducted our audit in
accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements
relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial
report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report.
The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement
of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the trust’s preparation of the financial report that gives a true and fair view 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 trust’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of
accounting estimates made by the director's, 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 complied with the independence requirements of the Accounting Professional and Ethical
Standards Board and the Australian Charities and Not-for-profits Commission Act 2012.


Opinion

In our opinion the financial report of Noosa Biosphere Reserve Trust has been prepared in accordance with Division 60 of
the Australian Charities and Not-for-profits Commission Act 2012, including:

(a) giving a true and fair view of the trust’s financial position as at 30 June 2016 and of its financial performance and cash
    flows for the year ended on that date; and

(b) complying with Australian Accounting Standards to the extent described in the notes to the financial report, and Division
    60 of the Australian Charities and Not-for-profits Commission Regulation 2013.