Hock Lian Seng Holdings Limited - Annual Report 2015 - page 35

Independent Auditor’s Report
To the Members of Hock Lian Seng Holdings Limited
Report on the Financial Statements
We have audited the accompanying consolidated financial statements of Hock Lian Seng Holdings Limited (the
“Company”) and its subsidiaries (collectively, the “Group”) set out on pages 34 to 100, which comprise the balance sheets
of the Group and the Company as at 31 December 2015, the statements of changes in equity of the Group and the
Company and the consolidated income statement, consolidated statement of comprehensive income and consolidated
FDVK ȵRZ VWDWHPHQW RI WKH *URXS IRU WKH \HDU WKHQ HQGHG DQG D VXPPDU\ RI VLJQLȴFDQW DFFRXQWLQJ SROLFLHV DQG RWKHU
explanatory information.
Management’s Responsibility for the Financial Statements
0DQDJHPHQW LV UHVSRQVLEOH IRU WKH SUHSDUDWLRQ RI ȴQDQFLDO VWDWHPHQWV WKDW JLYH D WUXH DQG IDLU YLHZ LQ DFFRUGDQFH ZLWK
the provisions of the Singapore Companies Act, Chapter 50 (the “Act”) and Singapore Financial Reporting Standards, and
IRU GHYLVLQJ DQG PDLQWDLQLQJ D V\VWHP RI LQWHUQDO DFFRXQWLQJ FRQWUROV VXɝFLHQW WR SURYLGH D UHDVRQDEOH DVVXUDQFH WKDW
assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised
DQG WKDW WKH\ DUH UHFRUGHG DV QHFHVVDU\ WR SHUPLW WKH SUHSDUDWLRQ RI WUXH DQG IDLU ȴQDQFLDO VWDWHPHQWV DQG WR PDLQWDLQ
accountability of assets.
Auditor’s Responsibility
2XU UHVSRQVLELOLW\ LV WR H[SUHVV DQ RSLQLRQ RQ WKHVH ȴQDQFLDO VWDWHPHQWV EDVHG RQ RXU DXGLW :H FRQGXFWHG RXU DXGLW LQ
accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements
DQG SODQ DQG SHUIRUP WKH DXGLW WR REWDLQ UHDVRQDEOH DVVXUDQFH DERXW ZKHWKHU WKH ȴQDQFLDO VWDWHPHQWV DUH IUHH IURP
material misstatement.
$Q DXGLW LQYROYHV SHUIRUPLQJ SURFHGXUHV WR REWDLQ DXGLW HYLGHQFH DERXW WKH DPRXQWV DQG GLVFORVXUHV LQ WKH ȴQDQFLDO
statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material
PLVVWDWHPHQW RI WKH ȴQDQFLDO VWDWHPHQWV ZKHWKHU GXH WR IUDXG RU HUURU ΖQ PDNLQJ WKRVH ULVN DVVHVVPHQWV WKH DXGLWRU
FRQVLGHUV LQWHUQDO FRQWURO UHOHYDQW WR WKH HQWLW\ȇV SUHSDUDWLRQ RI WKH ȴQDQFLDO VWDWHPHQWV WKDW JLYH D WUXH DQG IDLU YLHZ
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
DQ RSLQLRQ RQ WKH H΍HFWLYHQHVV RI WKH HQWLW\ȇV LQWHUQDO FRQWURO $Q DXGLW DOVR LQFOXGHV HYDOXDWLQJ WKH DSSURSULDWHQHVV RI
accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating
WKH RYHUDOO SUHVHQWDWLRQ RI WKH ȴQDQFLDO VWDWHPHQWV
:H EHOLHYH WKDW WKH DXGLW HYLGHQFH ZH KDYH REWDLQHG LV VXɝFLHQW DQG DSSURSULDWH WR SURYLGH D EDVLV IRU RXU DXGLW
opinion.
Opinion
ΖQ RXU RSLQLRQ WKH FRQVROLGDWHG ȴQDQFLDO VWDWHPHQWV RI WKH *URXS DQG WKH EDODQFH VKHHW DQG VWDWHPHQW RI FKDQJHV
in equity of the Company are properly drawn up in accordance with the provisions of the Act and Singapore Financial
5HSRUWLQJ 6WDQGDUGV VR DV WR JLYH D WUXH DQG IDLU YLHZ RI WKH ȴQDQFLDO SRVLWLRQ RI WKH *URXS DQG RI WKH &RPSDQ\ DV DW
'HFHPEHU DQG WKH ȴQDQFLDO SHUIRUPDQFH FKDQJHV LQ HTXLW\ DQG FDVK ȵRZV RI WKH *URXS DQG WKH FKDQJHV LQ
equity of the Company for the year ended on that date.
5HSRUW RQ 2WKHU /HJDO DQG 5HJXODWRU\ 5HTXLUHPHQWV
In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiary
corporations incorporated in Singapore of which we are the auditors have been properly kept in accordance with the
provisions of the Act.
Ernst & Young LLP
Public Accountants and
Chartered Accountants
Singapore
31 March 2016
ANNUAL REPORT 2015 33