NewcastlePermanent_AnnualReport_2016 (1)

ANNUAL REPORT 2016 51

INDEPENDENT
AUDIT REPORT

Independent auditor’s report to the members of Newcastle Permanent Building Society Limited

Report on the concise financial report
We have audited the accompanying concise financial report of Newcastle Permanent Building Society Limited (the company) which comprises the
consolidated balance sheets as at 30 June 2016, consolidated statements of comprehensive income, consolidated income statements, consolidated
statements of changes in equity and consolidated statements of cash flows for the year then ended, derived from the audited financial report of the
company for the year ended 30 June 2016 for both Newcastle Permanent Building Society Limited and Newcastle Permanent (the consolidated entity).
The concise financial report does not contain all the disclosures required by the Australian Accounting Standards and accordingly, reading the concise
financial report is not a substitute for reading the audited financial report.

Directors’ responsibility for the concise financial report
The directors are responsible for the preparation of the concise financial report in accordance with Accounting Standard AASB 1039 Concise Financial
Reports, and the Corporations Act 2001, and for such internal control as the directors determine are necessary to enable the preparation of the concise
financial report.

Auditor’s responsibility
Our responsibility is to express an opinion on the concise financial report based on our audit procedures which were conducted in accordance with
Auditing Standard ASA 810 Engagements to Report on Summary Financial Statements. We have conducted an independent audit, in accordance with
Australian Auditing Standards, of the financial report of the consolidated entity for the year ended 30 June 2016. We expressed an unmodified audit
opinion on that financial report in our report dated 9 September 2016. The Australian 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 for the year is
free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the concise financial report. The procedures
selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the concise financial report, whether due
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the concise 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 control.

Our procedures include testing that the information in the concise financial report is derived from, and is consistent with, the financial report for the year,
and examination on a test basis of audit evidence supporting the amounts, discussion and analysis, and other disclosures which were not directly derived
from the financial report for the year. These procedures have been undertaken to form an opinion whether, in all material respects, the concise financial
report complies with AASB 1039 Concise Financial Reports and whether the discussion and analysis complies with the requirements laid down in
AASB 1039 Concise Financial Reports.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Independence
In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence
declaration required by the Corporations Act 2001, which has been provided to the directors of Newcastle Permanent Building Society Limited on
9 September 2016, is also applicable to this concise financial report.

Auditor’s opinion
In our opinion, the concise financial report and discussion and analysis of the consolidated entity for the year ended 30 June 2016 complies with
Australian Accounting Standard AASB 1039 Concise Financial Reports.

PricewaterhouseCoopers Craig Stafford 9 September 2016
Sydney Partner

PricewaterhouseCoopers, ABN 52 780 433 757
Darling Park Tower 2, 201 Sussex Street, GPO BOX 2650, SYDNEY NSW 1171
T: +61 2 8266 0000, F: +61 2 8266 9999, www.pwc.com.au
Liability limited by a scheme approved under Professional Standards Legislation.

52 ANNUAL REPORT 2016

AUDITOR’S
INDEPENDENCE
DECLARATION

Auditor’s Independence Declaration

As lead auditor for the audit of Newcastle Permanent Building Society Limited for the year ended 30 June 2016,
I declare that to the best of my knowledge and belief, there have been:

1. no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
2. no contraventions of any applicable code of professional conduct in relation to the audit.
This declaration is in respect of Newcastle Permanent Building Society Limited and the entities it controlled during the period.

Craig Stafford
Partner Sydney
PricewaterhouseCoopers 9 September 2016

PricewaterhouseCoopers, ABN 52 780 433 757
Darling Park Tower 2, 201 Sussex Street, GPO BOX 2650, SYDNEY NSW 1171
T: +61 2 8266 0000, F: +61 2 8266 9999, www.pwc.com.au
Liability limited by a scheme approved under Professional Standards Legislation.

ANNUAL REPORT 2016 53

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54 ANNUAL REPORT 2016

ANNUAL REPORT 2016 55

Newcastle Permanent Building Society Limited ACN 087 651 992
Australian Financial Services Licence/ Australian Credit Licence 238273

Head Office: 307 King Street, Newcastle West
PO Box 5001 Hunter Region Mail Centre NSW 2310
call 13 19 87 or visit newcastlepermanent.com.au