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Full Financial Report
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    Auditors Independence Declaration
    Income Statements
    Balance Sheets
    Statements of Recognised Income and Expense
    Cash Flow Statements
    Notes to the Financial Statements
    Directors Declaration
    Independent Auditors Report
    Independent Auditors Report
    Shareholder Information

Independent Auditor’s Report

Independent audit report to members of Salmat Limited
Scope
We have audited the accompanying financial report of Salmat Limited and the entities it controlled during the year, which comprises the
balance sheet as at 30 June 2008, and the income statement, statement of recognised income and expense and statement of cash
flows for the year ended on that date, a summary of significant accounting policies, other explanatory notes and the directors’ declaration.
The Company has disclosed information as required by paragraphs Aus 25.4 to Aus 25.7.2 of Accounting Standard AASB 124 Related Party
Disclosures (‘remuneration disclosures’), under the heading ‘Remuneration Report’ on pages 6 to 11 of the directors’ report, as permitted
by Corporations Regulation 2M.6.04. This remuneration report has been subject to audit.
Directors’ responsibility for the financial report
The directors of the Company are responsible for the preparation and fair presentation of the financial report in accordance with the Australian
Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes
establishing and maintaining internal controls relevant to the preparation and fair presentation of the financial report that is 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. In note 1, the directors also state, in accordance with Accounting Standard AASB 101 Presentation of
Financial Statements, that compliance with the Australian equivalents to International Financial Reporting Standards ensures that the financial
report, comprising the consolidated financial statements and notes, comply with International Financial Reporting Standards. The directors are
also responsible for the remuneration disclosures contained in the directors’ report.
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. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and
plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement and that the
remuneration disclosures comply with Accounting Standard AASB 124 Related Party Disclosures.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures
selected depend on our 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, we consider internal controls relevant to the entity’s preparation and fair presentation of the financial
report 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 entity’s internal controls. 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.

Liability limited by a scheme approved
under Professional Standards
Legislation