2019-03-12 P&E Agenda - Item 7 - Attachment 1 - NBRF FY17-18 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 Audit of the Financial Report

             Opinion

             We have audited the financial report of Noosa Biosphere Reserve Trust, which comprises the statement of financial
             position as at 30 June 2018, the statement of profit or loss and other comprehensive income, the statement of changes in
             equity and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary
             of significant accounting policies, and the responsible persons’ declaration.

‘            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:                :

              (i) giving a true and fair view of the Registered Entity's financial position as at 30 June 2018 and of its financial
                  performance for the year ended; and

              (ii) complying with Australian Accounting Standards to the extent described in Note 1, and Division 60 of the Australian
                  Charities and Not-for-profits Commission Regulation 2013.

             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 Registered Entity in accordance with the auditor independence requirements of the Australian Charities
             and Not-for-profits Commission Act 2012 (ACNC Act) 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

             Emphasis of Matter - Basis of Accounting

             We draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been
             prepared for the purpose of fulfilling the Registered Entity's financial reporting responsibilities under the ACNC Act. As a
             result, the financial report may not be suitable for another purpose. Our opinion is not modified in respect of this matter.

             Responsibilities of Responsible Entities for the Financial Report                                                                 :

             The responsible entities of the Registered Entity 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 ACNC Act and the needs of the members. The responsible entities’ responsibility also
             includes such internal control as the responsible entities 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.

             In preparing the financial report, the responsible entities are responsible for assessing the Registered Entity's ability to
             continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
             of accounting unless the responsible entities either intend to liquidate the Registered Entity or to cease operations, or have
             no realistic alternative but to do so.                      .        .

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