8 / 49
KUWAIT ENERGY PLC
INDEPENDENT AUDITOR’S REPORT
8
INDEPENDENT AUDITOR’S REPORT TO THE DIRECTORS OF KUWAIT ENERGY PLC
We have audited the group financial statements of Kuwait Energy plc for the six month period ended 30 June 2016 which
comprise the Consolidated Income Statement, Consolidated Statement of Comprehensive Income, Consolidated Balance
Sheet, Consolidated Statement of Changes in Equity, Consolidated Cash Flow Statement and the related notes 1
to 31.
The financial reporting framework that has been applied in their preparation is applicable law and International Financial
Reporting Standards (IFRSs) as adopted by the European Union.
This report is made solely to the Company’s director in accordance with our engagement letter dated 12 September 2016
for the purpose of showing the results of management’s stewardship of the resources entrusted to it. Our audit work has
been undertaken so that we might state to the Company’s director those matters we are required to state to them in an
auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the Company for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditor
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of
the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and
express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing
(UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or
error. This includes an assessment of: whether the accounting policies are appropriate to the group’s circumstances and
have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made
by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-
financial information in the half-year report to identify material inconsistencies with the audited financial statements and
to identify any information that is apparently materially incorrect, based on, or materially inconsistent with, the
knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material
misstatements or inconsistencies we consider the implications for our report.
Opinion on financial statements
In our opinion the financial statements:
give a true and fair view of the state of the group’s affairs as at 30 June 2016 and of the group’s loss for the
period then ended;
have been properly prepared in accordance with IFRSs as adopted by the European Union; and
have been properly prepared in accordance with the Companies (Jersey) Law 1991.
Deloitte SA
Mark Valentin
Partner
Geneva, Switzerland
Robert Purdy
Director
30 September 2016