Auditor's report
Scope
We have audited the financial statements of the Australian Library and Information Association (incorporated by Royal Charter) [the Association] for the year ended 31 December 1996 as set out on schedules 1 to 4. The financial statements consist
of a balance sheet as at 31 December 1996, and an income and expenditure statement for the year ended 31 December 1996. The Association's executive director is responsible for the preparation and presentation of the financial statements and the information
contained therein. We have conducted an independent audit of the financial statements in order to express an opinion on them to the members of the Association in accordance with by-law 43 of the Royal Charter. We have obtained all the information and
explanations we have requested.
Our audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance as to whether the financial statements are free of material mis-statement and whether the membership and other records have been properly kept.
Our procedures included examination, on a test basis, of evidence supporting the amounts and other disclosures in the financial statements, and the evaluation of accounting policies and significant accounting estimates. These procedures have been
undertaken to form an opinion as to whether, in all material respects, the financial statements are presented fairly in accordance with Accounting Standards, other mandatory professional reporting requirements, being Urgent Issues Group Consensus Views,
and the Royal Charter, so as to present a view which is consistent with our understanding of the Association's state of affairs and the results of its operations and cashflows.
The audit opinion expressed in this report has been formed on the above basis.
Audit opinion
In our opinion:
- the financial statements, which are in agreement with the books and records of the Association, are properly drawn up:
- so as to give a true and fair view of the state of affairs of the Association at 31 December 1996 and its results and cash flows for the year ended on that date; and
- in accordance with applicable accounting standards and other mandatory professional reporting requirements; and
- the membership and other accounting records required to be kept by the Association have been properly kept in accordance with the provisions of the by-laws of the Association.
| Price Waterhouse |
M J Empson |
| Chartered accountants |
Partner |
ALIA general councillors' statement
In the opinion of the ALIA general councillors:
- the accounts of the Association set out on schedules 1 to 4 are drawn up so as to give a true and fair view of:
- the state of affairs at 31 December 1996 and the result and cash flows for the financial year ended on that date of the Association; and
- are in accordance with the by-laws of the Association.
- at the date of this statement there are reasonable grounds to believe that the Association will be able to pay its debts as and when they fall due.
The accounts are drawn up in accordance with applicable accounting standards.
For and on behalf of the council
Signed at Canberra this eighteenth day of May 1997
| K Smith |
H Tait |
C Grimison |
| President |
Immediate past president |
Income and expenditure statement
year ended 31 December 1996
|
Notes |
1996 |
1995 |
|
|
$ |
$ |
| Operating surplus before abnormal item |
3(a) |
360 550 |
389 965 |
| Abnormal item |
3(b) |
-- |
28 311 |
| Operating surplus |
|
360 550 |
418 276 |
| General fund at 31 December 1995 |
|
3 099 609 |
2 681 333 |
| General fund at 31 December 1996 |
3 460 159 |
3 099 609 |
The above income and expenditure statement is to be read in conjunction with the accompanying notes.
|
