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BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
Statement
of Directors’ responsibility for the
year ended 31 May 2017
These Group and Company annual financial statements have been audited by our independent external auditor
PricewaterhouseCoopers Inc. in compliance with the applicable requirements of the Companies Act, No 71 of 2008.
Dean Suntup, Financial Director, supervised the preparation of the Group and Company annual financial statements.
DA Suntup CA(SA)
Financial Director
Prominent
notice
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, its subsidiaries, joint ventures
and associates (the Group).
The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as
issued by the International Accounting Standards Board (IASB), the Financial Reporting Guides as issued by the South African
Institute of Chartered Accountants (SAICA) Accounting Practices Committee, Financial Pronouncements as issued by the
Financial Reporting Standards Council, the JSE Listings Requirements and the requirements of the Companies Act of 2008.
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 and Company at year-end. The Directors 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 Group’s systems of internal financial control. These are 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 have adequate resources in place to continue in operation for the foreseeable future, based
on forecasts and available cash resources. These Group financial statements support the viability of the Group.
The independent auditing firm PricewaterhouseCoopers Inc., which was 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
has audited the Group financial statements. The Directors believe that all representations made to the independent auditors
during their audit are valid and appropriate.