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|To the members of The South African Institute of Mining and Metallurgy We have audited the annual financial statements of The South African Institute of Mining and Metallurgy set out on pages 575 to 586 for the year ended 30 June 2005. These financial statements are the responsibility of the Institute?s Council. Our responsibility is to express an opinion on these financial statements based on our audit. Scope We have conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes: examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Audit opinion In our opinion, the financial statements fairly present, in all material respects, the financial position of the Institute at 30 June 2005 and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice.|