Executive summary

Audit and business risks

• Our audit is risk-focused. In planning our audit we have taken into account key areas of focus for financial reporting. These include:
• ― Fraud risk from revenue recognition and management override of controls
• ― Contingencies
• ― Post-employment liabilities
• ― Tangible capital assets
• ― Valuation of property tax and outstanding property tax appeals
• See pages 3-9.

Audit materiality

• Materiality has been determined based on total revenues from 2018. We have determined group materiality to be $8,400,000.
• Materiality will be set at lower thresholds where necessary to meet local subsidiary financial statement audit requirements. See page 10.

KPMG Audit Planning Report