Report on the Financial Statements
We have audited the accompanying financial statements of ASL Marine Holdings Ltd. (the
“Company”) and its subsidiaries (collectively, the “Group”) set out on pages 67 to 169, which
comprise the statements of financial position of the Group and the Company as at 30 June
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
statement of cash flows of the Group for the year then ended, and a summary of significant
accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of financial statements that give a true and
fair view in accordance with the provisions of the Singapore Companies Act, Chapter 50 (the
“Act”) and Singapore Financial Reporting Standards, and for devising and maintaining a system
of internal accounting controls sufficient to provide a reasonable assurance that assets are
safeguarded against loss from unauthorised use or disposition; and transactions are properly
authorised and that they are recorded as necessary to permit the preparation of true and fair
financial statements and to maintain accountability of assets.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our
audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those
standards require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgement, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation of financial statements that give 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 entity’s internal
control. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of accounting estimates made by management, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
INDEPENDENT AUDITOR’S
REPORT
To the Members of ASL Marine Holdings Ltd.
ASL Marine Holdings Ltd. /Annual Report 2015
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