172. Okavango Diamond Company Limited 2.0 Accounts  2.1 Audit Opinion  In the opinion of the auditors:  2.2  Financial Results 2.3 Working Capital  3.0 Management Letter  The financial statements of the Okavango Diamond Company Limited  for the financial year ended 31 March 2018 were audited by Messrs  KPMG, Certified Auditors, who were appointed by the Board.  The Okavango Diamond Company Limited was incorporated under  the Companies Act in April 2013 as a private company limited by  guarantee, wholly owned by Government to trade in rough diamonds.  The financial statements presented fairly, in all material respects,  the financial position of the Okavango Diamond Company  (Proprietary) Limited as at 31 March 2018 and its financial  performance and its cash flows for the year then ended, in  accordance with International Financial Reporting Standards. The financial operations of the company showed a profit of  USD24.41 million for the year under review, compared to USD39.45 million in the previous year. Income declined by 8%  from USD585.28 million in the previous year to USD537.61 million in  the year under review, while on the other hand expenditure  decreased by USD32.63 million from USD545.83 million in the  previous year to USD513.20 million during the year under review. The accounts of the company are maintained in US Dollars  because the major activities of purchases and sales are transacted in this currency.  The working capital position of the company as at 31 March 2018  showed current assets of USD86.60 million and current liabilities of  USD 2.13 million, resulting in a net current assets position of  USD84.47 million.  The auditors had issued a management letter and the matters  raised dealt with accounting procedures and internal controls  187 