Signed Financial Statements – First Super
Level 10, 12 Creek St
Brisbane
QLD 4000
GPOBox 457 Brisban e QLD 4001
Au stralia
Tel: +61 7 3237 5999
Fax : +61 7 3221 9227
www. bdo.com.au
BD O Au dit Pty Ltd ABN 33 134 022 870 is a member of a n ational associ ation of in depen den t en tities which are all members of B
DO
Au strali a Ltd
ABN 77 050 110 275, an Au strali an compan y li mi ted by guaran tee. BD O Au dit Pty Ltd an d BD O Australia Ltd are members of
BD O Intern ational Ltd, a UK compan y limi ted by guaran tee, an d form part of th e in tern ationalBDO n etwork of in depen den t membe
r
firms. Lia
bili ty li mi ted by a sch eme approved u n der Professional Standards L egi slation.
IN DEPEN DENT AUDITOR’S REPORT
First Super
(
ABN
56
2
86
6
25
1
81)
and
members
Opinion
I have audited
the financial
statements
of
First Super (the RSE) for
the year ended 30
June 2020
comprising
the statement
of
financial
position
as
at
30
June 2020,
the income statement, the
statement of
cash
flows
In my opinion, the financial statements prese nt fairly, in
al l material aspects , i n accordan ce wit
h
Australian Accounti ng Standards the financial positi on of
First
Super
as at
3 0 June 20 2 0
and the r esults
3 0 June 20 2 0
.
Basis f or
o
pinion
I conducted
the audit in ac cordance with Australian
Auditing
Standar ds. My resp onsibiliti es un de r those
standards are further described in the
for the aud it of the fi nancial
stateme nts
secti on of my r eport. I am i nde pe ndent of the enti ty in
accordance with the auditor
inde pe nde nc e r eq uirem ents of the Acco unti ng
Code of Eth ics for Professi onal Accountants
(
i ncluding Independen ce Standards)
(the Code )
that are
releva nt to my audit of the financial statements in Australia. I have also fulfill ed my other et hical
responsibiliti es i n accordan ce with the Code.
I believe that the au dit evidence I have obta i ned is sufficient and appropriate to provide a basis for my
opinion.
Responsibilities of
the
tru stee
for the
f
inancial
s
tatements
The
RSE’s
truste e is
respo nsible
for the pr eparati on and fa ir prese ntati on of the financial statements in
accordance with Australian Accounti ng Standards and the req uirements of the
Supe
rannuation I ndustr y
(Supervision) Act 1 9 9 3
(SIS Act) and t he
Superannuati on Industr y (Supervision) Regulations 1 9 9 4
(SIS
Regulati ons) . The
truste e is
also responsible
for such internal co ntrol
as the trustee determines i s
necess ary to enable the preparati o
n and fa ir prese ntati on of financial statements that are free f rom
ma terial mi sstatement, whether due to fraud or error.
In preparing the financial statements , the
truste e is
responsible fo r assess ing the ability of the R SE to
conti nue as a going conc er n, dis closing, as applicable, matters relate d to going concern and using the
going concern basis of accounti ng unless t
he t ruste e either
i nte nds
to li quidat e t he RSE or to cease
operati ons, or has no realisti c alternati ve but to do so
.
BD OAu di t Pty Lt d ABN 3 3 1 34 0 2 2 87 0 i sa me mbe r of a n a ti on al as soci ati on ofi n de pe n de n te n ti ti e s wh i c h ar e al l me mbe r s o fB
D O
Au str a li a Lt d
ABN 7 7 05 0 1 10 2 7 5, an A u str ali an c om p an y li mi te d by gu ar an te e .BD O Au di t Pty Lt d an d BD O Au str ali a Ltd ar e me m be r s of
BD OIn te r n ati on al Ltd , a U K c om pan y l i mi te dby gu ar an te e , an d for m p ar to f th e i n te r n ati on alBD On e tw or k of i n de pe n de n t me mbe
r
fi r ms. Li a
bi li ty li mi te d by a sc h e me ap pr ove d u n de r Pr ofe ssi on al Stan dar ds L e gi slati on .
r
e s pons i bi li ti e s f or the
a
udi t of t he
f
i nan c i al
s
tate me nts
My o bj ecti v es a re to o bta i n reas o na b le as s ura nce a bout w h eth er t he fi na nci a l s t a tements a s a w ho le
a re fre e from ma t eri a l mi s s t
a tement , w het her du e to f ra ud or er ro r, a nd to i s s u e an a u dit r epo rt t ha t
i ncl ud es m y o pinio n . R eas o na bl e as s ura n ce i s a hi g h l evel o f a s s ura nce , b ut i s n o t a g ua ra nte e tha t a n
a udit co n duct ed i n a cco r da nce w i t h th e A us tra li a n Au diti ng Sta nda rds w i l l a lwa y
s detec t a ma teri a l
mi s s ta tement w he n i t ex i s ts . Mi s s ta tements ca n a ri s e f ro m f ra ud or er ro r a n d are co ns i der ed ma teri a l
i f , i ndiv i dua lly o r i n t he ag g rega te, th ey cou ld reas o n a bly b e ex pect ed to i nf lu e nce t he eco no mi c
deci s i o ns o f us ers ta ke n o n the bas i s
o f thes e fi na nci a l s ta teme nts .
As part o f a n a u dit i n a cco r dance w i th t he A us tra li a n Auditi ng Sta ndar ds, I exer c i s ed pro f ess i o na l
ju dgme nt a nd ma i nta i ne d pro f ess i o na l s ce ptici s m t hr o ug ho ut t he au dit. I a ls o :
Ide nti f i ed a n d as s ess ed t he ri s ks o f ma teri a l
mi s s ta tement o f t he fi na nci a l s ta te ments , w h eth er
due to f ra ud o r e rro r , d esi g ned a nd perf o r med a udit pro ce du res r espo ns i v e to t ho s e ri s ks , a n d
o bta i ned a udit evi d en ce t h a t i s s uf f i ci ent a nd ap pro p r i a te to pro v i de a bas i s f o r my o pinio n T he
ri s k o f no t det
e cti ng a ma t eri a l mi s s ta teme nt resu lti n g f ro m f ra ud is hi g h er t ha n f o r o ne r esu lti ng
f ro m erro r, a s f ra u d ma y i n v o lv e co l lus i o n , f o rg ery , i n tenti o na l o mi s s i o ns , mi s re prese nta ti o ns , o r
the o v e rri d e of i nter na l co ntro l
Obta i ne d an un ders ta nding o f i nterna l
co n tro l re leva n t t o the a u dit i n o r de r to d esi g n a udit
pro ce du res t ha t a re ap pro pri a te i n t he ci rc ums ta nc es, b ut no t f o r t he pu rpos e o f express i ng a n
Ev a lua t ed t he a ppro pri a te ness o f a cco unti ng po
li ci es used a nd t he reas o na b le n ess o f a cco unti ng
est i ma tes a nd re la ted dis cl o s ures m a d e by t he
t rus t ee
C o nclu de d on t he a ppro pri a teness o f th e
us e of the g o i ng co nce rn bas i s o f a cco unti ng
a nd, bas ed o n th e au dit ev i denc e obta i n ed , w h eth er a ma ter
i a l unc erta i nty exi s ts rela t ed to
co nce rn . If I co nc lu de t ha t a ma teri a l unc erta i nty exi s ts , I a m r eq ui re d to d ra w a tt enti o n i n my
a udito r r epo rt t o t he re la t e
d di s c lo s ur es i n th e fi na n c i a l s ta temen ts o r, i f s uc h d i s clo s ures a r e
i na deq ua te , to mo dif y my a udito r o pinio n . My a udito r co ncl us i o ns a re bas ed o n t he au dit evi d enc e
o bta i ned up to t he dat e of my a udit r epo rt . Ho wev e r, f utur e ev ents o r co nditi o n s ma y ca us
e th e
RSE to c eas e to co nti nu e a s a g o i ng co ncer n
Ev a lua t ed t he ov e ra l l p res enta ti o n, s tru ctu re an d co nte nt o f the f i na nci a l s ta te ments , i nc lu ding
the dis clo s ur es, a nd w het h er t he fi na nci a l s ta tem ents rep rese nt t he un de rlyi ng t ra ns a cti o ns a nd
events i n a
ma nn er t ha t a c hi eves f a i r p rese nta ti o n
C o mmuni ca te d wi th t he
tr us tee
rega r ding, a mo ng o ther ma tt ers , th e p la n ne d s co pe a n d ti mi ng o f
the a u dit a n d si g ni f i ca nt a udit f i ndi ng s , i n cl uding a ny s i g ni f i ca nt def i ci e nci es i n i nter na l co ntro l
that I i de nti f i ed du ri
ng my a udit.
BD O A udi t P t y Lt d
C R Jenki ns
Di recto r
Bri s bane
,
23
Sept em ber
2020