PRICEWATERHOUSE(OOPERS Audit approach Independence We conducted an independent audit in order to express a Our audit was conducted in accordance with Australian | reasonable assurance as to whether the financial report is of an audit is influenced by factors such as the use of pre inherent limitations of internal control, and the availabil1 evidence. Therefore, an audit cannot guarantee that all n n opinion to the members ofthe company. Auditing Standards, in order to provide ; free of material misstatement. The nature fessional judgement, selective testing, the ty of persuasive rather than conclusive naterial misstatements have been detected. We performed procedures to assess whether in all mater: fairly, in accordance with the Corporations Act 2001, Ac financial reporting requirements in Australia, a view whi al respects the financial report presents counting Standards and other mandatory ch is consistent with our understanding of the company’s and the consolidated entity’s financial po represented by the results of their operations and cash fl sition, and of their performance as WS. We formed our audit opinion on the basis of these proce! dures, which included: When this audit report is included in an Annual Report, | information in the Annual Report to determine whether i with the financial report. our procedures include reading the other t contains any material inconsistencies While we considered the effectiveness of management’s when determining the nature and extent of our procedure assurance on internal controls. internal controls over financial reporting S, our audit was not designed to provide In conducting our audit, we followed applicable indepen professional ethical pronouncements and the Corporatio dence requirements of Australian ns Act 2001. Our audit did not involve an analysis of the prudence of management. business decisions made by directors or Dunk LK PricewaterhouseCoopers David J Smith Partner Perth 30 September 2004 ° examining, on a test basis, information to provide disclosures in the financial report, and evidence supporting the amounts and ° assessing the appropriateness of the accounting po reasonableness of significant accounting estimates licies and disclosures used and the ; made by the directors. (rev mbohewalaryin 69