Page 90 - S P Setia Annual Report 2013
P. 90

88 | Financial Statements S P SETIA BERHAD GROUP Annual Report 2013





inDePenDent

aUDitORS’ RePORt

TO THE MEMBERS OF S P SETIA BERHAD (INCORPORATED IN MALAYSIA)



RePORt On tHe Financial StatementS

We have audited the fnancial statements of S P Setia Berhad, which comprise the statements of fnancial position as at 31 October 2013 of the
Group and of the Company, and the statements of comprehensive income, statements of changes in equity and statements of cash fows of the
Group and of the Company for the year then ended, and a summary of signifcant accounting policies and other explanatory information, as set
out on pages 90 to 180.



Directors’ Responsibility for the Financial Statements

The directors of the Company are responsible for the preparation of fnancial statements so as to give a true and fair view in accordance with
Financial Reporting Standards and the requirements of the Companies Act 1965 in Malaysia. The directors are also responsible for such internal
control as the directors determine is necessary to enable the preparation of fnancial statements that are free from material misstatement,
whether due to fraud or error.



Auditors’ Responsibility

Our responsibility is to express an opinion on these fnancial statements based on our audit. We conducted our audit in accordance with
approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the fnancial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fnancial statements. The procedures
selected depend on our judgement, including the assessment of risks of material misstatement of the fnancial statements, whether due to fraud
or error. In making those risk assessments, we consider internal control relevant to the Company’s preparation of the fnancial statements that
gives a true and fair view 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 Company’s internal control. 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 fnancial statements.

We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our audit opinion.



Opinion

In our opinion, the fnancial statements give a true and fair view of the fnancial position of the Group and of the Company as of 31 October
2013 and of their fnancial performance and cash fows for the year then ended in accordance with Financial Reporting Standards and the
requirements of the Companies Act 1965 in Malaysia.
   85   86   87   88   89   90   91   92   93   94   95