Independent auditor’s report  To the members of Macquarie Group Limited  Report on the financial report Auditor’s opinion Independence  Directors’ responsibility for the financial report  Auditor’s responsibility  Liability limited by a scheme approved under Professional  Standards Legislation  We have audited the accompanying financial report of  Macquarie Group Limited (the Company), which comprises  of the statements of financial position as at 31 March 2014,  and the income statements, the statements of  comprehensive income, statements of changes in equity and  statements of cash flows for the year ended on that date, a  summary of significant accounting policies, other explanatory  notes and the directors’ declaration for both Macquarie  Group Limited and the Macquarie Group (the Consolidated  Entity). The Consolidated Entity comprises the Company and  the entities it controlled at the year's end or from time to time  during the financial year.  The directors of the Company are responsible for the  preparation of the financial report that gives a true and fair  view in accordance with Australian Accounting Standards  and the Corporations Act 2001and for such internal control  as the directors determine is necessary to enable the  preparation of the financial report that is free from material  misstatement, whether due to fraud or error. In Note 1, the  directors also state, in accordance with Accounting Standard  AASB 101 Presentation of Financial Statements, that the  financial statements comply with International Financial  Reporting Standards.  Our responsibility is to express an opinion on the financial  report based on our audit. We conducted our audit in  accordance with Australian Auditing Standards. Those  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 is free from material misstatement.  An audit involves performing procedures to obtain audit  evidence about the amounts and disclosures in the financial  report. The procedures selected depend on the auditor’s  judgement, including the assessment of the risks of material  misstatement of the financial report, whether due to fraud or  error. In making those risk assessments, the auditor  considers internal control relevant to the entity’s preparation  and fair presentation of the 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. An audit also  includes evaluating the appropriateness of accounting  policies used and the reasonableness of accounting  estimates made by the directors, as well as evaluating the  overall presentation of the financial report. We believe that the audit evidence we have obtained is  sufficient and appropriate to provide a basis for our audit  opinions.  In conducting our audit, we have complied with the  independence requirements of the Corporations Act 2001.  In our opinion:  a) the financial report of Macquarie Group Limited is in  accordance with the Corporations Act 2001, including:  (i)  giving a true and fair view of the Company’s and  Consolidated Entity’s financial position as at 31  March 2014 and of their performance for the year  ended on that date; and  (ii)  complying with Australian Accounting Standards –  including the Australia Accounting Interpretations  and the Corporations Regulations 2001, and  b) the financial report and notes also comply with  International Financial Reporting Standards as disclosed  in note 1.  213 