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ANNUAL FINANCIAL STATEMENTS
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Tiger Brands Limited Integrated Annual Report
2014
Responsibility for annual financial statements
The directors of Tiger Brands Limited are responsible
for the integrity of the annual financial statements of
the company, consolidated subsidiaries, associates
and the objectivity of other information presented in
the Integrated Annual Report.
The fulfilment of this responsibility is discharged through
the establishment and maintenance of sound
management and accounting systems, the maintenance
of an organisation structure which provides for
delegation of authority and establishes clear
responsibility, together with the constant communication
and review of the operations’ performance measured
against approved plans and budgets.
Management and employees operate in terms of a
code of ethics approved by the board. The code
requires compliance with all applicable laws and
maintenance of the highest integrity in the conduct of
all aspects of the business.
The annual financial statements, prepared in terms of
International Financial Reporting Standards, are
examined by our auditors in conformity with
International Standards on Auditing.
An audit committee of the board of directors,
composed entirely of independent non-executive
directors, meets periodically with our internal and
external auditors and management to discuss internal
accounting controls and auditing and financial
reporting matters. The auditors have unrestricted
access to the audit committee.
The directors have no reason to believe that the
group’s operations will not continue as going
concerns in the year ahead, other than where
closures or discontinuations are anticipated, in which
case provision is made to reduce the carrying cost of
the relevant assets to net realisable value.