INDEPENDENT AUDIT REPORT TO THE MEMBERS OF
MERMAID MARINE AUSTRALIA LIMITED
65
We have audited the financial report of Mermaid Marine Australia Limited for the financial year
ended 30 June 2000 as set out on pages 18 to 43.  The financial report includes the consolidated
financial statements of the consolidated entity comprising the company and the entities it
controlled at the year’s end or from time to time during the financial year.  The company ’s
directors are responsible for the financial report.  We have conducted an independent audit of
the financial report in order to express an opinion on it to the members of the company.
Our audit has been conducted in accordance with Australian Auditing Standards to provide
reasonable assurance whether the financial report is free of material misstatement.  Our
procedures included examination, on a test basis, of evidence supporting the amounts and other
disclosures in the financial report, and the evaluation of accounting policies and significant
accounting estimates.  These procedures have been undertaken to form an opinion whether, in
all material respects, the financial report is presented fairly in accordance with Accounting
Standards issued in Australia and other mandatory professional reporting requirements and
statutory requirements so as to present a view which is consistent with our understanding of the
company’s and the consolidated entity ’s financial position, and performance as represented by
the results of their operations and their cash flows.
The audit opinion expressed in this report has been formed on the above basis.
Audit Opinion
In our opinion, the financial report of Mermaid Marine Australia Limited is in accordance with:
(a) the Corporations Law, including:
(i) giving a true and fair view of the company ’s and consolidated entity ’s financial
position as at 30 June 2000 and of their performance for the year ended on that date;
and
(ii) complying with Accounting Standards and the Corporations Regulations; and
(b) other mandatory professional reporting requirements.
DELOITTE TOUCHE TOHMATSU
K F JONES
Partner
Chartered Accountants
Perth
29 September 2000
The liability of Deloitte Touche Tohmatsu is limited by, and to the extent of, the Accountants’
Scheme under the Professional Standards Act 1994 (NSW).
SCOPE