| |
These financial statements have been prepared in accordance with the
International Financial Reporting Standards (IFRS) of the International
Accounting Standards Board (IASB), and in compliance with the South
African Institute of Chartered Accountants (SAICA) Financial Reporting
Guides as issued by the Accounting Practices Committee, the Financial
Pronouncements as issued by the Financial Reporting Standards
Council, the JSE Listings Requirements and the requirements of
the Companies Act, 71 of 2008 (as amended) (the Companies Act).
The annual financial statements have been prepared on the going
concern basis. |
| |
The financial statements are prepared in South African rand, which
is also the parent company's presentation and functional currency.
Unless stated otherwise, all financial information presented in rand
has been rounded off to the nearest million. |
| |
The financial statements are prepared on the historical cost basis, with
the exception of certain financial instruments subsequently measured
at fair value. The carrying values of the recognised assets and liabilities
that are designated as hedged items in fair value hedges, that would
otherwise be carried at amortised cost, are adjusted to record the fair
values attributable to the risks that are being hedged in effective hedge
relationships. Details of the Group's significant accounting policies are
set out below and are consistent with those applied in the previous
financial year except for the adopted standards and amendments as
listed below. |
