PPS Integrated Report 2021 121 | Independent Auditor’s Report INDEPENDENT AUDITOR’S REPORT To the Trustees of the Professional Provident Society Holdings Trust Our opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of The Professional Provident Society Holdings Trust (the Trust) and its subsidiaries (together the Group) as at 31 December 2021, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards. What we have audited The Professional Provident Society Holdings Trust’s consolidated financial statements set out on pages 134 to 221 comprise: ~The Consolidated Statement of Financial Position as at 31 December 2021; ~The Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year then ended; ~The Consolidated Statement of Changes in Equity for the year then ended; ~The Consolidated Statement of Cash Flows for the year then ended; and ~The notes to the fnancial statements, which include a summary of significant accounting policies. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the Independent Regulatory Board for Auditors’ Code of Professional Conduct for Registered Auditors (IRBA Code) and other independence requirements applicable to performing audits of financial statements in South Africa. We have fulfilled our other ethical responsibilities in accordance with the IRBA Code and in accordance with other ethical requirements applicable to performing audits in South Africa. The IRBA Code is consistent with the corresponding sections of the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards). Other information The Trustees are responsible for the other information. The other information comprises the information included in the document titled “2021 PPS Integrated Report”. The other information does not include the consolidated or the separate financial statements and our auditor’s report thereon. Our opinion on the consolidated financial statements does not cover the other information and we do not express an audit opinion or any form of assurance conclusion thereon. In connection with our audit of the consolidated financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
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