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HSRC Annual Report 2016/17
PART E: Annual Financial Statements
Report of the Auditor-General
to Parliament on the Human
Sciences Research Council
Report on the audit of the Financial Statements
Opinion
1.
I have audited the Financial Statements of the Human Sciences Research Council, set out on pages 102–148,
which comprise the Statement of Financial Position as at 31 March 2017, the Statement of Financial Performance,
Statement of Changes in Net Assets, Cash Flow Statement and Statement of Comparison of Approved Budget to
Actual Results for the year then ended, as well as the notes to the Financial Statements, including a summary of
significant accounting policies.
2.
In my opinion, the Financial Statements present fairly, in all material respects, the financial position of the Human
Sciences Research Council as at 31 March 2017, and its financial performance and cash flows for the year then
ended, in accordance with Generally Recognised Accounting Practices (GRAP) and the requirements of the Public
Finance Management Act (Act No. 1 of 1999) (PFMA).
Basis for opinion
3.
I conducted my audit in accordance with the International Standards on Auditing (ISAs). My responsibilities
under those standards are further described in the Auditor-General’s responsibilities for the audit of the Financial
Statements section of my report.
4.
I am independent of the entity in accordance with the International Ethics Standards Board for Accountants’
Code of
Ethics for Professional Accountants
(IESBA code) and the ethical requirements that are relevant to my audit in South
Africa. I have fulfilled my other ethical responsibilities in accordance with these requirements and the IESBA code.
5.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.
Other matter
6.
I draw attention to the matter below. My opinion is not modified in respect of this matter.
Unaudited supplementary schedules
7.
The supplementary information set out on pages 1–45 and 61–94 does not form part of the Financial Statements
and is presented as additional information. I have not audited these schedules and, accordingly, I do not express
an opinion thereon.
Responsibilities of Accounting Authority for the Financial Statements
8.
The Board of Directors, which constitutes the Accounting Authority, is responsible for the preparation and fair
presentation of the Financial Statements in accordance with GRAP and the requirements of the PFMA, and for
such internal control as the Accounting Authority determines is necessary to enable the preparation of Financial
Statements that are free from material misstatement, whether due to fraud or error.
9.
In preparing the Financial Statements, the Accounting Authority is responsible for assessing the Human Sciences
Research Council’s ability to continue as a going concern, disclosing, as applicable, matters relating to a going