INDEPENDENT AUDITORS’ REPORT TO THE CONTROLLER OF HOUSING PURSUANT TO SECTION 9(3) OF THE HOUSING DEVELOPMENT (CONTROL OF LICENSING) ACT 1966
ABC SDN. BHD. (123456-X)
(Incorporated in Malaysia)
Report on the Financial Statements
We have audited the financial statements of ABC SDN. BHD. which comprise the balance sheets as at 31 March 2009 of the Company, and the income statements, statements of changes in equity and cash flow statements of the Company for the year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages X to XX.
Directors’ Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation and fair presentation of these financial statements in accordance with Accounting Standards for Private Entities and the Housing Development (Control and Licensing) Act, 1966 in Malaysia. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Our responsibility is to express an opinion on these financial 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 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 our judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity’s preparation and fair presentation of the financial statements 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 the directors, 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.
In our opinion:
a) the financial statements have been properly drawn up in accordance with the provisions of the Housing Development (Control and Licensing) Act, 1966 and Private Entity Reporting Standards in Malaysia, so as to give a true and fair view of the financial position of the Company as at 31 March 2009 and of the results of the operations, the cash flows and changes in equity for the financial year ended on that date; and
b) the accounting and other records required by Housing Development (Control and Licensing) Act, 1966 to be kept have been properly kept in accordance with the provisions of the said and Act;
c) we have received satisfactory explanations and information from the officers and agents of the Company for the purpose of our audit.
Report on Other Legal and Regulatory Requirements
In accordance with the requirements of the Companies Act, 1965 in Malaysia, we also report that in our opinion the accounting and other records and the registers required by the Act to be kept by the Company have been properly kept in accordance with the provisions of the Act.
This report is made solely to the Controller of Housing pursuant to Section 9(3) of the Housing Developers (Control of Licensing) Act 1966 and for no other purpose. We do not assume responsibility to any other person for the content of this report.
DEF & Co.
No. AF: 123
Awang Bin Malek
No. 123/10/10 (J/PH)
Dated: 2 December 2009