Integrated Annual Report 2014
Independent auditor’s report on summarised consolidated financial statements
Key to this report.

Independent auditor’s report on summarised consolidated financial statements

To the shareholders of ArcelorMittal South Africa Ltd

The accompanying summarised consolidated financial statements which comprise the summary consolidated statement of financial position as at 31 December 2014, the summary consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, and related notes, are derived from the audited consolidated financial statements of ArcelorMittal South Africa Ltd for the year ended 31 December 2014.

We expressed an unmodified audit opinion on those consolidated financial statements in our report dated 10 March 2015. Our auditor’s report on the audited consolidated financial statements contained an Other Matter paragraph “other reports required by the Companies Act” (included below). Those consolidated financial statements, and the summarised consolidated financial statements, do not reflect the effect of events that occurred subsequent to the date of our report on those consolidated financial statements.

The summarised consolidated financial statements do not contain all the disclosures required by the International Financial Reporting Standards (IFRS) and the requirements of the Companies Act of South Africa as applicable to annual financial statements. Reading the summarised consolidated financial statements, therefore, is not a substitute for reading the audited consolidated financial statements of ArcelorMittal South Africa Ltd.

Directors’ responsibility for the summarised consolidated financial statements

The directors are responsible for the preparation of the summarised consolidated financial statements in accordance with IFRS and Interpretations issued respectively by the Accounting Standards Board (IASB) and the International Financial Reporting Interpretation Committee (IFRIC) of the IASB, in particular International Accounting Standard (IAS) 34 Interim Financial Reporting, the SAICA Financial Reporting Guides as issued by the Financial Reporting Standards Council, and the requirements of the Companies Act of South Africa as applicable to summary financial statements, and for such internal control as the directors determine is necessary to enable the preparation of the summarised consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibility

Our responsibility is to express an opinion on the summarised consolidated financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810 Engagements to Report on Summary Financial Statements.

Opinion

In our opinion, the summarised consolidated financial statements derived from the audited consolidated financial statements of ArcelorMittal South Africa Ltd for the year ended 31 December 2014 are consistent, in all material respects, with those consolidated financial statements, in accordance with IFRS and Interpretations issued respectively by the IASB and the IFRIC of the IASB, in particular IAS 34 Interim Financial Reporting, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and the Financial Pronouncements as issued by the Financial Reporting Standards Council, and the requirements of the Companies Act of South Africa as applicable to summary financial statements.

Other reports required by the Companies Act

The “other reports required by the Companies Act” paragraph in our audit report dated 3 March 2015 states that as part of our audit of the consolidated financial statements for the year ended 31 December 2014, we have read the directors’ report, the audit and risk committee’s report and the company secretary’s certificate for the purpose of identifying whether there are material inconsistencies between these reports and the audited consolidated financial statements.

These reports are the responsibility of the respective preparers. The paragraph also states that, based on reading these reports, we have not identified material inconsistencies between these reports and the audited annual consolidated financial statements. The paragraph furthermore states that we have not audited these reports and accordingly do not express an opinion on these reports. The paragraph does not have an effect on the summarised consolidated financial statements or our opinion thereon.

Deloitte & Touche
Registered Auditor
Per – DA Steyn
Partner

10 March 2015

National Executive: *LL Bam Chief Executive, *AE Swiegers Chief Operating Officer, *GM Pinnock Audit, DL Kennedy Risk Advisory, *NB Kader Tax, Deloitte & Touche Registered Auditors Per – DA Steyn Partner 10 March 2015 TP Pillay Consulting, *K Black Clients & Industries , *JK Mazzocco Talent & Transformation, *MJ Jarvis Finance, *M Jordan Strategy, S Gwala Managed Services, *TJ Brown Chairman of the Board, *MJ Comber Deputy Chairman of the Board

A full list of partners is available on request*Partner and Registered Auditor

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