Report of the independent auditor

The summarised consolidated annual financial statements of Imperial Holdings Limited, contained in the accompanying summarised report, which comprise the summarised consolidated statement of financial position as at 30 June 2014, the summarised consolidated statement of profit and loss, the summarised consolidated statement of comprehensive income, summarised consolidated statement of changes in equity and summarised consolidated statement of cash flows for the year then ended, and related notes, are derived from the audited consolidated annual financial statements of Imperial Holdings Limited for the year ended 30 June 2014. We expressed an unmodified audit opinion on those consolidated annual financial statements in our report dated 26 August 2014. Our auditor’s report on the audited consolidated annual financial statements contained an Other Matter paragraph titled “Other reports required by the Companies Act” (included below).

The summarised consolidated annual financial statements do not contain all the disclosures required by the International Financial Reporting Standards and the requirements of the Companies Act of South Africa as applicable to annual financial statements. Reading the summarised consolidated annual financial statements, therefore, is not a substitute for reading the audited consolidated annual financial statements of Imperial Holdings Limited.

The Listings Requirements require summarised reports to be prepared in accordance with the framework concepts and the measurement and recognition requirements of International Financial Reporting Standards (IFRS), the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council and, as a minimum, contains the singular information required by IAS 34 Interim Financial Reporting.

AUDITOR’S RESPONSIBILITY

Our responsibility is to express an opinion on the summarised consolidated annual financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810, Engagements to Report on Summary Financial Statements.

OPINION

In our opinion the summarised consolidated annual financial statements derived from the audited consolidated annual financial statements of Imperial Holdings Limited for the year ended 30 June 2014 are consistent, in all material respects, with those audited consolidated annual financial statements, in accordance with the requirements of the JSE Limited Listings Requirements for summarised reports, and the requirements of the Companies Act of South Africa as applicable to summarised financial statements.

OTHER REPORTS REQUIRED BY THE COMPANIES ACT

The “Other reports required by the Companies Act” paragraph in our audit report dated 26 August 2014 states that as part of our audit of the consolidated annual financial statements for the year ended 30 June 2014, we have read the directors’ report, audit committee’s report and the company secretary’s certificate for the purpose of identifying whether there are material inconsistencies between these reports and the audited consolidated annual financial statements. These reports are the responsibility of the respective preparers. The paragraph also states that, based on reading these reports, we have not identified material inconsistencies between these reports and the audited consolidated annual financial statements. The paragraph furthermore states that we have not audited these reports and accordingly do not express an opinion on these reports. The paragraph does not have an effect on the summarised consolidated annual financial statements or our opinion thereon.

Deloitte & Touche
Registered Auditor

Per AF Mackie
Partner
26 August 2014
Buildings 1 and 2, Deloitte Place
The Woodlands Office Park, Woodlands Drive
Sandton

National Executive: LL Bam, (Chief executive), AE Swiegers (Chief operating officer), GM Pinnock (Audit), DL Kennedy (Risk advisory), NB Kader (Tax), TP Pillay (Consulting), K Black (Clients & Industries), JK Mazzocco (Talent & Transformation), MJ Jarvis (Finance), M Jordan (Strategy), S Gwala (Managed Services), TJ Brown (Chairperson of the Board), MJ Comber (Deputy Chairperson of the Board)

A full list of partners and directors is available on request.

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