text: ***Scope***
  
  *The financial report and directors’ responsibility*
  
  The financial report comprises the statement of financial performance, statement of financial position, statement of cash flows, accompanying notes 
  to the financial statements, and the directors’ declaration for both Santos Ltd (the “Company”) and Santos Group (the “Consolidated Entity”), for the 
  year ended 31 December 2004. The Consolidated Entity comprises both the Company and the entities it controlled during that year. 
  
  The Directors of the Company are responsible for the preparation and true and fair presentation of the financial report in accordance with the 
  Corporations Act 2001. This includes responsibility for the maintenance of adequate accounting records and internal controls that are designed to 
  prevent and detect fraud and error, and for the accounting policies and accounting estimates inherent in the financial report. 
  
  *Audit approach*
  
  We conducted an independent audit in order to express an opinion to the members of the Company. Our audit was conducted in accordance with 
  Australian Auditing Standards in order to provide reasonable assurance as to whether the financial report is free of material misstatement. The nature 
  of an audit is influenced by factors such as the use of professional judgement, selective testing, the inherent limitations of internal control, and the 
  availability of persuasive rather than conclusive evidence. Therefore, an audit cannot guarantee that all material misstatements have been detected. 