Icon Energy Limited Annual Report 2017

Crowe Horwath Brisbane is a member of Crowe Horwath International, a Swiss verein. Each member of Crowe Horwath is a separate and independent legal entity. Liability limited by a scheme approved under Professional Standards Legislation other than for the acts or omissions of financial services licensees. The title ‘Partner’ conveys that the person is a senior member within their respective division, and is among the group of persons who hold an equity interest (shareholder) in its parent entity, Findex Group Limited. The only professional service offering which is conducted by a partnership is the Crowe Horwath external audit division. All other professional services offered by Findex Group Limited are conducted by a privately owned organisation and/or its subsidiaries. Crowe Horwath Brisbane ABN 79 981 227 862 Member Crowe Horwath International Audit and Assurance Services Level 16 120 Edward Street Brisbane QLD 4000 Australia Tel +61 7 3233 3555 Fax +61 7 3233 3567 www.crowehorwath.com.au Icon Energy Limited Independent Auditor’s Report to the Members of Icon Energy Limited Report on the audit of the financial report Opinion We have audited the financial report of Icon Energy Limited (the Company and its subsidiaries (the Group)), which comprises the consolidated statement of financial position as at 30 June 2017, the consolidated statement of profit of loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors’ d eclaration. In our opinion, the accompanying financial report of the Group is in accordance with the Corporations Act 2001 , including: (a) Giving a true and fair view of the Group’s financial position as at 30 June 2017 and of its financial performance for the year then ended. (b) Complying with Australian Accounting Standards and the Corporations Regulations 2001 . 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 Group in accordance with the auditor independence requirements of the Corporations Act 2001 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. Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. INDEPENDENT AUDITOR'S REPORT FINANCIAL REPORT 35 ICON ENERGY ANNUAL REPORT 2017