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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
STATEMENT OF DIRECTORS’ RESPONSIBILITY
The Directors are responsible for the maintenance of adequate accounting records and the preparation, integrity
and fair presentation of the Group and Company financial statements of Blue Label Telecoms Limited. The
financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS)
and the requirements of the Companies Act, No 71 of 2008 and the JSE Listings Requirements.
The Directors consider that having applied IFRS in preparing the Group and Company financial statements they
have selected the most appropriate accounting policies, consistently applied and supported by reasonable and
prudent judgements and estimates, and that all IFRS statements that they consider to be applicable have been
followed.
The Directors are satisfied that the information contained in the Group and Company financial statements fairly
presents the results of operations for the year and the financial position of the Group at year-end. The Directors
also prepared the other information included in the Group and Company financial statements and are
responsible for both its accuracy and its consistency.
In addition, the Directors are responsible for the Company’s system of internal financial control. This is designed
to provide reasonable, but not absolute, assurance as to the reliability of the financial statements, and to
adequately safeguard, verify and maintain accountability of the assets, and to prevent and detect misstatement
and loss. Nothing has come to the attention of the Directors to indicate that any material breakdown in the
functioning of these controls, procedures and systems has occurred during the year under review.
The Group and Company financial statements have been prepared on the going concern basis, since the
Directors have every reason to believe that the Group and Company have adequate resources in place to
continue in operation for the foreseeable future, based on forecasts and available cash resources. These Group
and Company financial statements support the viability of the Group and the Company.
The Group and Company financial statements have been audited by the independent auditors,
PricewaterhouseCoopers Inc., who were given unrestricted access to all financial records and related data,
including minutes of all meetings of shareholders, the Board of Directors and Committees of the Board. The
Directors believe that all representations made to the independent auditors during their audit are valid and
appropriate.