In response, management acknowledged the existence of such cases and stated that they had advised clients to transfer their properties upon clearing loans, through the issuance of clearance certificates. Follow-up on such clients would be carried out at the sales office. 

## 135. Botswana Innovation Hub Limited 

The financial statements of Botswana Innovation Hub for the financial year ended 31 March 2018 were audited by Messrs Grant Thornton, Certified Auditors, who were appointed by the Board. 

## 2.0 Accounts 

## 2.1 Audit Opinion 

## In the opinion of the auditors: 

The annual financial statements presented fairly, in all material respects, the consolidated and separate financial position of Botswana Innovation Hub as at 31 March 2018, and its consolidated and separate financial performance and consolidated and separate cash flows for the year then ended in accordance with International Financial Reporting Standards. 

## Emphasis of Matter: 

Without qualifying their opinion, the auditors drew attention to Note 27 of the financial statements which stated that the Investment property under construction developed certain structural defects in the prior year which were yet to be remedied. Based on the reports provided by experts employed, the estimated costs involved in such remediation would be approximately P24.61 million and the company had obtained approval for additional funding required from its stakeholders. Since the Investment property was still under construction and value in use could be determined only after the building was put in use, no impairment due to technical defects had been effected in the financial statements for the year. The company continued to engage with the legal experts to pursue the reimbursements of the above remedial costs from the service providers who were considered to be potentially at fault for these cracks and defects. 

