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TMR 2016 Annual Repor t | 09 REPORT OF THE STATUTORY AUDITOR ON THE CONSOLIDATED FINANCIAL STATEMENTS #UUVCVWVQT[CWFKVQTYGJCXGCWFKVGFVJGCEEQORCP[KPIEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUQH6QMKQ/KNNGPPKWO4G#)YJKEJEQORTKUGVJG balance sheet, statement of comprehensive income, cash flow statement, statement of changes in equity and notes (pages 10 to 62), for the year ended 31 December 2016. Board of Directors' Responsibilities 6JG$QCTFQH&KTGEVQTUKUTGURQPUKDNGHQTVJGRTGRCTCVKQPQHVJGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUKPCEEQTFCPEGYKVJVJG+PVGTPCVKQPCN(KPCPEKCN 4GRQTVKPI5VCPFCTFU +(45CPFVJGTGSWKTGOGPVUQH5YKUUNCY6JKUTGURQPUKDKNKV[KPENWFGUFGUKIPKPIKORNGOGPVKPICPFOCKPVCKPKPICPKPVGTPCN EQPVTQNU[UVGOTGNGXCPVVQVJGRTGRCTCVKQPQHEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUVJCVCTGHTGGHTQOOCVGTKCNOKUUVCVGOGPVYJGVJGTFWGVQHTCWFQT GTTQT6JG$QCTFQH&KTGEVQTUKUHWTVJGTTGURQPUKDNGHQTUGNGEVKPICPFCRRN[KPICRRTQRTKCVGCEEQWPVKPIRQNKEKGUCPFOCMKPICEEQWPVKPIGUVKOCVGU that are reasonable in the circumstances. Auditor's Responsibility 1WTTGURQPUKDKNKV[KUVQGZRTGUUCPQRKPKQPQPVJGUGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUDCUGFQPQWTCWFKV9GEQPFWEVGFQWTCWFKVKPCEEQTFCPEG YKVJ5YKUUNCYCPF5YKUU#WFKVKPI5VCPFCTFUCUYGNNCUVJG+PVGTPCVKQPCN5VCPFCTFUQP#WFKVKPI6JQUGUVCPFCTFUTGSWKTGVJCVYGRNCPCPF RGTHQTOVJGCWFKVVQQDVCKPTGCUQPCDNGCUUWTCPEGYJGVJGTVJGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUCTGHTGGHTQOOCVGTKCNOKUUVCVGOGPV #PCWFKVKPXQNXGURGTHQTOKPIRTQEGFWTGUVQQDVCKPCWFKVGXKFGPEGCDQWVVJGCOQWPVUCPFFKUENQUWTGUKPVJGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVU 6JGRTQEGFWTGUUGNGEVGFFGRGPFQPVJGCWFKVQTŦULWFIOGPVKPENWFKPIVJGCUUGUUOGPVQHVJGTKUMUQHOCVGTKCNOKUUVCVGOGPVQHVJGEQPUQNKFCVGF ƒPCPEKCNUVCVGOGPVUYJGVJGTFWGVQHTCWFQTGTTQT+POCMKPIVJQUGTKUMCUUGUUOGPVUVJGCWFKVQTEQPUKFGTUVJGKPVGTPCNEQPVTQNU[UVGOTGNGXCPV VQVJGGPVKV[ŦURTGRCTCVKQPQHVJGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUKPQTFGTVQFGUKIPCWFKVRTQEGFWTGUVJCVCTGCRRTQRTKCVGKPVJGEKTEWOUVCPEGU but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control system. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made, as well as evaluating the overall RTGUGPVCVKQPQHVJGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVU9GDGNKGXGVJCVVJGCWFKVGXKFGPEGYGJCXGQDVCKPGFKUUWHƒEKGPVCPFCRRTQRTKCVG to provide a basis for our audit opinion. Opinion +PQWTQRKPKQPVJGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUYJKEJEQORTKUGVJGDCNCPEGUJGGVUVCVGOGPVQHEQORTGJGPUKXGKPEQOGECUJHNQY statement, statement of changes in equity and notes for the year ended 31 December 2016 give a true and fair view in accordance with the +PVGTPCVKQPCN(KPCPEKCN4GRQTVKPI5VCPFCTFU +(45CPFEQORN[YKVJ5YKUUNCY Other Matter 6JGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUQH6QMKQ/KNNGPPKWO4G#)HQTVJG[GCTGPFGF&GEGODGTYGTGCWFKVGFD[CPQVJGTƒTOQHCWFKVQTU YJQUGTGRQTVFCVGF/CTEJGZRTGUUGFCPWPOQFKƒGFQRKPKQPQPVJQUGUVCVGOGPVU REPORT ON OTHER LEGAL REQUIREMENTS 9GEQPƒTOVJCVYGOGGVVJGNGICNTGSWKTGOGPVUQPNKEGPUKPICEEQTFKPIVQVJG#WFKVQT1XGTUKIJV#EV #1#CPFKPFGRGPFGPEG CTVKENG%1CPF article 11 AOA) and that there are no circumstances incompatible with our independence. +PCEEQTFCPEGYKVJCTVKENGCRCTCITCRJKVGO%1CPF5YKUU#WFKVKPI5VCPFCTFYGEQPƒTOVJCVCPKPVGTPCNEQPVTQNU[UVGOGZKUVU YJKEJJCUDGGPFGUKIPGFHQTVJGRTGRCTCVKQPQHEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUCEEQTFKPIVQVJGKPUVTWEVKQPUQHVJG$QCTFQH&KTGEVQTU 9GTGEQOOGPFVJCVVJGEQPUQNKFCVGFƒPCPEKCNUVCVGOGPVUUWDOKVVGFVQ[QWDGCRRTQXGF 2TKEGYCVGTJQWUG%QQRGTU#) Ray Kunz Philip Kirkpatrick Audit Expert Audit Expert Auditor in Charge <ȹTKEJ/CTEJ INDEPENDENT AUDITORS' REPORT 6QVJG$QCTFQH&KTGEVQTUţ6QMKQ/KNNGPPKWO4G#)