We have audited the group annual financial statements and annual financial statements of Naspers Limited,
which comprise the consolidated and separate balance sheets as at 31 March 2009, and the consolidated and
separate income statements, the consolidated and separate statements of changes in equity and consolidated
and separate cash flow statements for the year then ended, and a summary of significant accounting policies
and other explanatory notes, and the directors’ report, as set out here.
DIRECTORS’ RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The company’s directors are responsible for the preparation and fair presentation of these financial
statements in accordance with International Financial Reporting Standards (“IFRS”) and in the manner
required by the Companies Act of South Africa. This responsibility includes: designing, implementing and
maintaining internal control relevant to the preparation and fair presentation of financial statements that
are free from material misstatement, whether due to fraud or error; selecting and applying appropriate
accounting policies; and making accounting estimates that are reasonable in the circumstances.
AUDITOR’S RESPONSIBILITY
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted
our audit in accordance with International Standards on Auditing (“ISA”). Those standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether
the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgement, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall presentation
of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.
OPINION
In our opinion, the financial statements present fairly, in all material respects, the consolidated and separate
financial position of Naspers Limited as at 31 March 2009, and its consolidated and separate financial performance
and its consolidated and separate cash flows for the year then ended in accordance with International Financial
Reporting Standards (“IFRS”) and in the manner required by the Companies Act of South Africa.
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PricewaterhouseCoopers Inc.
Director: Brendan Deegan
Registered auditor
Cape Town, South Africa
26 June 2009 |
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