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The Summary Consolidated Financial Statements of Blue Label Telecoms Limited, contained in the accompanying provisional report, which comprise the summarised Group Statement of Financial Position as at 31 May 2023, the Summarised Group Income Statement and Summarised Group Statements of Comprehensive Income, Changes in Equity and Cash Flows for the year then ended, and related notes, are derived from the audited Consolidated Financial Statements of Blue Label Telecoms Limited for the year ended 31 May 2023.
In our opinion, the accompanying Summary Consolidated Financial Statements are consistent, in all material respects, with the audited Consolidated Financial Statements, in accordance with the requirements of the JSE Limited Listings Requirements for provisional reports, as set out in the Basis of preparation section in the Summary Consolidated Financial Statements, and the requirements of the Companies Act of South Africa as applicable to Summary Financial Statements.
The Summary Consolidated Financial Statements do not contain all the disclosures required by International Financial Reporting Standards and the requirements of the Companies Act of South Africa as applicable to Annual Financial Statements. Reading the Summary Consolidated Financial Statements and the auditor's report thereon, therefore, is not a substitute for reading the audited Consolidated Financial Statements and the auditor's report thereon.
We have expressed an unmodified audit opinion on the audited Consolidated Financial Statements in our report dated 28 August 2023. That report also includes communication of identified key audit matters. Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Consolidated and Separate Financial Statements of the current period.
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated and Separate Financial Statements section of our report dated 24 August 2023. We are independent of the Group and company in accordance with the Independent Regulatory Board for Auditors' Code of Professional Conduct for Registered Auditors (IRBA Code) and other independence requirements applicable to performing audits of Financial Statements in South Africa. We have fulfilled our other ethical responsibilities in accordance with the IRBA Code and in accordance with other ethical requirements applicable to performing audits in South Africa. The IRBA Code is consistent with the corresponding sections of the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (including International Independence Standards). We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
The directors are responsible for the preparation of the Summary Consolidated Financial Statements in accordance with the requirements of the JSE Limited Listings Requirements for provisional reports, set out in the Basis of preparation section in the Summary Consolidated Financial Statements, and the requirements of the Companies Act of South Africa as applicable to Summary Financial Statements.
Our responsibility is to express an opinion on whether the Summary Consolidated Financial Statements are consistent, in all material respects, with the audited Consolidated Financial Statements based on our procedures, which were conducted in accordance with International Standards on Auditing (ISA) 810 (Revised), Engagements to Report on Summary Financial Statements.
Alex Philippou CA(SA)
SizweNtsalubaGobodo Grant Thornton Inc.
Engagement Director
Registered Auditor
29 August 2023
221 Garstfontein Road
Newlands
Pretoria
Gauteng
