INDEPENDENT AUDITOR’S REPORT
Crowe Horwath Brisbane
ABN 79 981 227 862
Member Crowe Horwath International
Level 16 120 Edward Street
Brisbane QLD 4000 Australia
GPO Box 736
Brisbane QLD 4001 Australia
Tel +61 7 3233 3555
Fax +61 7 3233 3567
www.crowehorwath.com.au
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.
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50
ICON ENERGY LIMITED
2014 Annual Report ABN 61 058 454 569
Independent Auditor’s Report
To the members of Icon Energy Limited
Report on the Financial Statements
We have audited the accompanying financial report of Icon Energy Limited, which comprises the
consolidated statements of financial position as at 30 June 2014, the consolidated statements of profit
or loss and other comprehensive income, the consolidated statements of changes in equity and the
consolidated statements of cash flows for the year then ended, notes comprising a summary of
significant accounting policies and other explanatory information, and the directors’ declaration of the
company and the consolidated entity comprising the company and the entities it controlled at the
year’s end or from time to time during the financial year.
Directors’ Responsibility for the Financial Report
The directors of the company are responsible for the preparation of the financial report that gives a
true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001
and for such internal control as the directors determine is necessary to enable the preparation of the
financial report that gives a true and fair view and is free from material misstatement, whether due to
fraud or error. In Note 1, the directors also state, in accordance with the Accounting Standard
AASB101 Presentation of Financial Statements that the financial statements comply with International
Financial Reporting Standards.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We 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 company’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 company’s internal control. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of accounting estimates made by the directors, 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 Corporations
Act 2001.
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