44
LHN Limited Annual Report
Independent Auditor
’
s Report
to the Members of LHN Limited
Report on the financial statements
We have audited the accompanying financial statements of LHN Limited (
“
the Company
”
) and its subsidiaries
(
“
the Group
”
)
,
which comprise the statements of financial position of the Company and the Group as at
30 September 2015
,
the consolidated statement of profit or loss and other comprehensive income
,
consolidated
statement of changes in equity and consolidated statement of cash flows of the Group for the financial 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 the
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
.
Opinion
In our opinion
,
the consolidated financial statements of the Group and the statement of financial position of
the Company are properly drawn up in accordance with the provisions of the Act and Singapore Financial
Reporting Standards so as to give a true and fair view of the financial position of the Group and of the
Company as at 30 September 2015
,
and of the financial performance
,
changes in equity and cash flows
of the Group for the financial year ended on that date
.
