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Project: Subject: Corporate Governance

The directors present a report on Toyota Finance Australia for the year ending 31 March 2018. The principle activity was acquiring vehicles and providing loans to dealers. Net profit was $148 million with no significant changes. The directors are not aware of issues not addressed and expect continued profitability in 2019. The company insured officers including directors for $52,026. The auditors stated the financial statements were fairly presented under IFRS.

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49 views2 pages

Project: Subject: Corporate Governance

The directors present a report on Toyota Finance Australia for the year ending 31 March 2018. The principle activity was acquiring vehicles and providing loans to dealers. Net profit was $148 million with no significant changes. The directors are not aware of issues not addressed and expect continued profitability in 2019. The company insured officers including directors for $52,026. The auditors stated the financial statements were fairly presented under IFRS.

Uploaded by

Ahtisham Ahsan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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PROJECT

SUBJECT:

Corporate Governance

Topic:

Toyota

SUBMITTED TO:

Ma’am Warda Gull

SUBMITTED BY:

Name Roll No.

Ahmad Hassan 15

Hammad Malik 30

SEMESTER:

8th Semester

B.Com (Hons.)
Summary of Director’s report:
The directors present this report on the consolidated entity consisting of Toyota Finance
Australia Limited, the year ended 31 March 2018. There are two types of director in the
company at any time during or since the end of the financial year are current directors and
formers directors. The principle activity during the year is to conduct the acquisition of motor
vehicles and Provide commercial loans to motor dealers. The net profit for the year ended 31
March 2018 was $148,059,000 and there were no significant changes in the during the financial
year. Since the end of the financial year, the directors are not aware of any matter or not dealt
with in the report and the company expects its underlying operations to operate profitably in
the financial year ending 31 March 2019. During the financial year, the company paid a
premium of $52,026 to insure the officers of the company and its controlled entities including
the directors, company secretaries, and other officers against any loss. The company has agreed
to indemnify its auditors against any claim by a third party arising from the company’s breach
of its agreement. No person has applied to the Court under section 237 of the Corporations Act
2001 for leave to bring proceedings on behalf of the company and its controlled entities and at
the end amounts in the directors’ report and financial report have been rounded off in
accordance with that Instrument to the nearest thousand dollars.

Auditors Report

To board of directors of Toyota Industries corporation

Financial statements of Toyota Industries Corporation and its subsidiaries have been audited.
Financial statements included statements of profit and loss, statement of comprehensive
income, statement of changes in equity, statement of cash flows and notes to financial
statements. The auditors further stated that their responsibility was to give their independent
view on financial statements based on their audit. The audit was conducted in accordance with
auditing standards generally accepted in Japan. The auditors believed that the audit evidence
they obtained was sufficient and appropriate to provide an audit opinion. Lastly, according to
auditors the financial statements were presented fairly and were prepared in accordance with
International Financial Reporting Standards.

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