cowr'rio Ats tOdMd xncær» C9D 6 «n i al** r) 0%0 1a n V lid rip ýwp 4 - h IWn i 41.1NQk14U D9f! WQs!COn jzwTh!W £AlNÅUVJ-TQ-ftliQ?SŽM REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS Opinion We have audited the accompanying financial staternents of the project ^Sfnallholder Agriculture Development and Commerciallzation Project" ('the Prjert") loan reference 8626AQ, which cornpdse the starement of cash receipts and payrncnts for the period comprised between January L 2018 and December 3 2018 whch shows an amount of 14,603,401 USD of total receipts and the anount of 8,769,815 USD of tot& paymrents dunng the year then ended, a cash balance of 10,174,577 USD and the accompanying notes to the financial statemnentS, including a summary of the signíficant accounting polklies, In our opinion, the accompanying financial statements give a true and fair vIew, in all material respects, of the cash poceeds and disbursements and uses of funds by the Project during the period comprised between January 1, 2018 and December 31, 2018, ln accordance with Cash Basis IPSAS - Financial Reporting Under the Cash Basis of Accounting issued by the Intenational PublIc Sector Accoulting Standards Board. Basis for opinion We conducted our audit m accordance wth International Standards on Auditing (ISAs) and furtlier technical and ethical standards and guidellnes as issued by Ordern dos Contabilistas e Peritos Contablitstas de Angola (the Angolan Institute of Statutory Auditors), Our responsibilstles under those standafds are further deseribed in the `Auditor's responslbilities for the audit of the financial statements" section below. We are indeapendent from the Projeet in accordance with the law and we have fulfilled other ethical requirernents in accordance with the Angolan Institute of Statutory Auditors code of ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Responsibilities of management for the financial statements Managernent Is responsible for: - the preparation of financial statements that give a true and fair view of the Proect's financial posftion. financial performarce and cash flows in accrdance with International Public Sector Accounting Standard (IPSA) - Financial Reporting Under the Cash Basis of Accounting; - designing and maintaining an appropriate internal control system to enable the preparation of financial statemenis that are frec fmm rmaterial misstaterment, whether due to fraud or errnr; - the adoption of accounting policies and principles appropriate In the circumstances; and - assessing the Project's ability to caninue as a going concern, and disclosing, as applicable, the malters that may rast significant douKt about the Project's ability to continue as 3 going concern, The management is responsible for overseeing the Project's financial reporting process. ZVT4 rirn tL %0rer "--d mlfr GåYCa S ålNra C4 3 eltta, c 95i f" n ark9aYm.ý inr. QLcxa M~" 3oax m znra 54WZ20 w.M C9C StrIram arw Yj I she eå7,tzi- K2 20.0 Kej411 dt«M stOwrOt& C5 e kOlr F 9 -1ýå V4% S