INDEPENDENT AUDITOR’S REPORT To the Trustees of the Professional Provident Society Holdings Trust Report on the Audit of the Consolidated Financial Statements Opinion We have audited the consolidated financial statements of the Professional Provident Society Holdings Trust and its subsidiaries (‘the Group’) set out on pages 101 to 201, which comprise the consolidated statement of financial position as at 31 December 2022, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at 31 December 2022, and its consolidated financial performance and consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards and the requirements of the Trust Deed. We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the Independent Regulatory Board for Auditors’ Code of Professional Conduct for Registered Auditors (IRBA Code) and other independence requirements applicable to performing audits of financial statements of the group and in South Africa. We have fulfilled our other ethical responsibilities in accordance with the IRBA Code and in accordance with other ethical requirements applicable to performing audits of the Group and in South Africa. The IRBA Code is consistent with the corresponding sections of the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards). We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Information The Trustees are responsible for the other information. The other information comprises the information included in the 219-page document titled “Professional Provident Society Holdings Trust Annual Financial Statements for the year ended 31 December 2022”, which includes the Statement of responsibility by the Board of Trustees, Certificate by the Secretary, Statement of responsibility by the Group Chief Executive Officer and Group Chief Financial Officer, Investment returns and profit allocation to policyholders’ PPS Profit-Share Account, Trustees’ Report, Audit Committees’ Report, Group Social and Ethics Committee’s Report and Remuneration Report by the Group Remuneration Committee. The other information does not include the consolidated financial statements and our auditor’s report thereon. Our opinion on the consolidated financial statements does not cover the other information and we do not express an audit opinion or any form of assurance conclusion thereon. In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 84 Independent auditor’s report
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