34
A
N N U A L
R
E P O R T
2 0 1 5
R
epo r t o f the
I
ndependent
A
ud i to r s
to the Members of BHS INDUSTRIES BERHAD (Incorporated in Malaysia)
1.
Report on the nancial statements
We have audited the accompanying nancial
statements which comprise the statements
of nancial position of the Group and of the
Company as at 30 June 2015, and the related
statements of comprehensive income, changes in
equity and cash £ows for the year then ended, and
a summary of signi cant accounting policies and
other explanatory information.
1.1
Directors’ responsibility for the financial
statements
e directors of the Company are responsible
for the preparation and fair presentation
of these nancial statements in accordance
with the Companies Act 1965 (“Act”) and the
Malaysian Financial Reporting Standards,
the Approved Accounting Standards for
Entities Other an Private Entities in
Malaysia, and for such internal control as the
directors determine is necessary to enable the
preparation of nancial statements that are
free from material misstatement, whether
due to fraud or error.
1.2
Auditors’ responsibility
It is our responsibility to form an independent
opinion, based on our audit, on these nancial
statements and to report our opinion solely to
you, as a body, in accordance with Section 174
of the Act, and for no other purpose. We do
not assume responsibility towards or accept
liability to any other person for the content of
this report.
We conducted our audit in accordance with
the Approved Standards on Auditing in
Malaysia. ose standards require that we
comply with ethical requirements and plan
and perform the audit to obtain reasonable
assurance whether the nancial statements
are free from material misstatement.
An audit involves performing procedures
to obtain evidence about the amounts and
disclosures in the nancial statements. e
procedures selected depend on the auditor’s
judgment, including the assessment of
the risks of material misstatement of the
nancial statements, whether due to fraud
or error. In making those risk assessments,
the auditor considers internal control
relevant to the entity’s preparation and fair
presentation of the nancial statements in
order to design audit procedures that are
appropriate in the circumstances, but not
for the purpose of expressing an opinion
on the eectiveness 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
nancial statements.
We believe that the audit evidence we have
obtained is sucient and appropriate to
provide a basis for our audit opinion.
1.3
Opinion
In our opinion, the nancial statements have
been properly drawn up in accordance with
the Act and theMalaysian Financial Reporting
Standards,
the
Approved
Accounting
Standards for Entities Other an Private
Entities in Malaysia, so as to give a true and
fair view of the nancial position of the Group
and of the Company as at 30 June 2015, and
of their nancial performance and their cash
£ows for the year ended on that date.
2.
Report on other legal and regulatory
requirements
In accordance with the requirements of the Act,
we also report on the following:
(a) In our opinion, the accounting and other
records and the registers required by the
Act to be kept by the Company and by its
subsidiaries have been properly kept in
accordance with the provisions of the Act.
(b) We are satis ed that the nancial statements
of the subsidiaries that have been consolidated
