UNDER SECTION 307C OF THE CORPORATIONS ACT 2001
TO THE DIRECTORS OF TECHGEN METALS LTD
I declare that, to the best of my knowledge and belief, during the period ended 30 June 2019, there
have been no contraventions of:
(a)
the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
(b)
any applicable code of professional conduct in relation to the audit.
This declaration is in respect of TechGen Metals Ltd and the entities it controlled during the period.
PKF BRISBANE AUDIT
TIM FOLLETT
PARTNER
BRISBANE
FEBRUARY 2021
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECHGEN METALS LTD
Report on the Financial Report
Opinion
We have audited the accompanying financial report, of TechGen Metals Ltd (the Company), which comprises
the consolidated statement of financial position as at 30 June 2019, 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 period then ended, notes comprising a summary of significant accounting
policies and other explanatory information, and the directors' declaration of the company and the consolidated
entity compromising the company and the entities it controlled at the period end or from time to time during
the financial period from 28 February 2018 to 30 June 2019.
In our opinion the financial report of TechGen Metals Ltd is in accordance with the Corporations Act 2001,
including:
a)
Giving a true and fair view of the consolidated en
and of its performance for the period ended on that date; and
2019
b)
Complying with Australian Accounting Standards and the Corporations Regulations 2001.
Basis for Opinion
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those
our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Material Uncertainty Related to Going Concern
We draw attention to Note 1 in the financial report, which indicates that the consolidated entity incurred a net
loss of $453,925 during the period ended 30 June 2019 and, as of that date, the consolidated entity had a
negative net current asset position of $115,116. As stated in Note 1, these events or conditions, along with
other matters set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on
entity may be
unable to realise its assets and discharge its liabilities in the normal course of business. Our opinion is not
modified in respect of this matter.
Independence
We are independent of the consolidated entity in accordance with the Corporations Act 2001 and the ethical
Code of Ethics for
requirements
Professional Accountants (including Independence Standards) (the code) that are relevant to our audit of
the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with
the Code.
ies for the Financial Report
The directors of the company are responsible for the preparation of the financial report that gives a true and
fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such
internal control as the Directors determine is necessary to enable the preparation of the financial report that
gives a true and fair view and is free from material misstatement, whether due to fraud or error.
ability to continue
In preparing the financial report, the Directors are responsible for assessing the
as a going concern, disclosing, as applicable, matters related to going concern and using a going concern
basis of accounting unless the Directors either intend to liquidate the company or to cease operations, or have
no realistic alternative but to do so.
ies for the Audit of the Financial Report
Our responsibility is to express an opinion on the financial report based on our audit. Our objectives are to
obtain reasonable assurance about whether the financial report as a whole is free from material misstatement,
onable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian
Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if, individual or in aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of this financial report.
As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgment
and maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial report, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that
is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit 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
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the directors.
Co
based on the audit evidence obtained, whether a material uncertainty exists related to events or
ability to continue as a going
conditions that may cast significant doubt on the consolidate
concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to
consolidated
entity to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial report, including the
disclosures, and whether the financial report represents the underlying transactions and events in a
manner that achieves fair presentation.
We communicate with the directors regarding, among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit.
We also provide the directors with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, action taken to eliminate threats
or safeguards applied.
PKF BRISBANE AUDIT
TIM FOLLETT
PARTNER
BRISBANE
February 2021