Directors' responsibility for the financial statements
To the shareholders of The Bidvest Group Limited
The directors are responsible for the preparation and fair presentation of the consolidated and separate financial statements in accordance with International Financial Reporting Standards (IFRS), the interpretations adopted by the International Accounting Standards Board, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and the Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council and in terms of the requirements of the Companies Act of South Africa.
The directors’ responsibility includes: designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of these financial statements that are 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’ responsibility also includes maintaining adequate accounting records and an effective system of risk management.
The directors have made an assessment of the Group’s and Company’s ability to continue as a going concern and there is no reason to believe that the Group and Company will not be going concerns in the year ahead.
The auditors are responsible for reporting on whether the consolidated and separate financial statements are fairly presented in accordance with IFRS, the interpretations adopted by the International Accounting Standards Board, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and the Financial Reporting Pronouncements as issued by the Financial Reporting Standards Council and in terms of the requirements of the Companies Act of South Africa.
The consolidated and separate financial statements of the Company for the year ended June 30 2016, were approved by the board of directors and are signed on its behalf by:
| Lorato Phalatse | Lindsay Ralphs | Peter Meijer |
| Chairperson | Chief executive | Chief financial officer |