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INDEPENDENT AUDIT REPORT TO MEMBERS OF
BRICKWORKS LIMITED

Report on the Financial Report
We have audited the accompanying financial report of Brickworks Limited, which comprises the balance sheet as at 31 July 2008,
and the income statement, statement of changes in equity and cash flow statement for the year ended on that date, a summary
of significant accounting policies, other explanatory notes and the directors’ declaration of the consolidated entity comprising the
company and the entities it controlled at the year’s end or from time to time during the financial year..
Directors’ Responsibility for the Financial Report
The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with
the Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This
responsibility includes establishing and maintaining internal controls relevant to the preparation and fair presentation of the financial
report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies;
and making accounting estimates that are reasonable in the circumstances. In Note 1(a), the directors also state that the financial
report, comprising the financial statement and notes, complies with International Financial Reporting Standards as issued by the
International Accounting Standards Board.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with
Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit
engangements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The
procedures selected depend on our judgement, including the assessment of the risks of material misstatement of the financial report,
whether due to fraud or error. In making those risk assessments, we consider internal controls relevant to the entity’s preparation
and fair presentation of the financial report 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 the entity’s internal controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as
evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Independence
In conducting our audit we have met the independence requirements of the Corporations Act 2001. We have given to the directors of
the company a written Auditor’s Independence Declaration, included by reference in the directors’ report. In addition to our audit of
the financial report, we were engaged to undertake the services disclosed in the notes to the financial statements. The provision of
these services has not impaired our indepence.
Audit opinion
In our opinion:
1. the financial report of Brickworks Limited is in accordance with the Corporations Act 2001, including:
(i) giving a true and fair view of the financial position of Brickworks Limited and the consolidated entity at 31 July
2008 and of their performance for the year ended on that date; and
(ii) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the
Corporations Regulations 2001.
2. the financial report also complies with International Financial Reporting Standards as issued by the International Accounting
Standards Board.
Report on the Remuneration Report
We have audited the Remuneration Report included in the directors’ report for the year ended 31 July 2008. The directors of the
company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the
Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in
accordance with Australian Auditing Standards.
Auditiors Opinion
In our opinion the Remuneration Report of Brickworks Limited for the year ended 31 July 2008, complies with section 300A of the
Corporations Act 2001.
Ernst & Young
Graham Ezzy
Partner
Sydney
25 September 2008