2012 Financial Statement

Signed financial statements 31 December 2012

BOARD STATEMENT

IT IS the responsibility of the Board to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the institute at the end of the financial year and of its income, cashflows and changes in funds for that year.

The Board is also responsible for keeping proper accounting records and for safeguarding the assets of the institute by taking reasonable steps to prevent and detect fraud.

In the opinion of the Board, the financial statements for the year ended 31 December 2011 have been drawn up so as to give a true and fair view.

The Board confirms that suitable accounting policies have been used and applied consistently and that reasonable and prudent judgments and estimates have been made in the preparation of the financial statements for the year ended 31 December 2011.

The Board also confirm that applicable accounting standards have been followed and that the financial statements have been prepared on a going concern basis.

The members of the Board confirm that the summarised financial statements on the following pages are a summary of the information extracted from the full annual financial statements.

For further information, please consult the full audited financial statements for the financial year ended 31 December 2011, which are available from the institute’s offices.

Approved by the Board,
at its meeting on 6 March 2012

AUDITORS’ STATEMENT

We have audited the financial statements of the Pacific Institute of Public Policy which comprise the balance sheet as at 31 December 2011, the income statement, the statement of changes in funds and the statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes set out in the report of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In our opinion, the financial statements have been properly prepared in accordance with the provisions of the Charitable Associations Act (Consolidated) [CAP140] and give a true and fair view of the financial position of the entity as at 31 December 2011, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards.

We have examined the summarised financial statements of the Pacific Institute of Public Policy for the year ended 31 December 2011. We have also read the other information contained in the annual report and considered the implications for our report if we became aware of any apparent misstatements or material inconsistencies with the summarised. In our opinion, the summarised financial statements on the following pages are consistent, in all material respects, with the full audited financial statements of the Pacific Institute of Public Policy for the year ended 31 December 2011.

The summary financial statements do not contain all the disclosures required by International Financial Reporting Standards applied in the preparation of the audited financial statements. Accordingly, reading the summary financial statements is not a substitute for reading the financial statements.

LAW PARTNERS
Chartered Accountants, March 2012

FINANCIAL REPORT 2011

Download a copy of the  audited financial statements for the year ended 31 December 2011

We gratefully acknowledge the core funding support provided by the Government of Australia Agency for International Development - AusAID