Niif Petroleo Gas

|Example 16.1 |Qualified opinion |
| |Corresponding figures|
| |Prior period opinion was qualified |
||Matter which gave rise to the prior period modification continues to be an issue |
| |Opinion modified regarding the currentperiod figures and the corresponding figures |

Independent Auditors’ Report1

[Appropriate Addressee]2
[Name of company]

We have audited the accompanying (consolidated)3financial statements of [name of company] (“the Company”), which comprise the (consolidated) 3 balance sheet as at [balance sheet date], and the (consolidated)3 income statement, (consolidated)3 statement ofchanges in equity and (consolidated) 3 cash flows statement for the year then ended, and a summary of significant accounting policies and other explanatory notes. 5, 6

Management’s Responsibilityfor the Financial Statements

Management7 is responsible for the preparation and fair presentation of these (consolidated)3 financial statements in accordance with International Financial ReportingStandards8. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from materialmisstatements, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.9

Auditors’Responsibility

Our responsibility is to express an opinion on these (consolidated)3 financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing....