Report on the financial statements
We have audited the accompanying financial statements of Baker Technology Limited (the “Company”) and its subsidiaries (collectively, the “Group”) set out on
pages 70 to 130, which comprise the balance sheets of the Group and the Company as at 31 December 2015, the statements of changes in equity of the Group and
the Company, the consolidated statement of comprehensive income and consolidated cash flow statement of the Group for the year then ended, and a summary of
significant accountingpoliciesandother explanatory information.
Management’s responsibility for the financial statements
Management is responsible for thepreparationof financial statements that givea trueand fair view inaccordancewith theprovisionsof theSingaporeCompaniesAct,
Chapter 50 (the “Act”) and Singapore Financial Reporting Standards, and for devising andmaintaining 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
recordedasnecessary topermit thepreparationof trueand fair financial statementsand tomaintainaccountability 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. Thosestandardsrequire thatwecomplywithethical requirementsandplanandperform theaudit toobtainreasonableassuranceaboutwhether the financial
statementsare free frommaterialmisstatement.
An audit involves performingprocedures to obtain audit evidence about the amounts anddisclosures in the financial statements. Theprocedures selecteddepend on
the auditor’s judgement, including the assessment of the risks ofmaterialmisstatement of the financial statements, whether due to fraud or error. Inmaking those
riskassessments, theauditorconsiders internal control relevant to theentity’spreparationof financial statements thatgivea trueand fairview inorder todesignaudit
procedures that areappropriate in thecircumstances, butnot for thepurposeof expressinganopinionon theeffectivenessof theentity’s internal control.Anaudit also
includesevaluating theappropriatenessof accountingpoliciesusedand the reasonablenessof accountingestimatesmadebymanagement, aswell asevaluating the
overall presentationof the financial statements.
Webelieve that theaudit evidencewehaveobtained is sufficient andappropriate toprovideabasis for our audit opinion.
Opinion
Inour opinion, the consolidated financial statementsof theGroupand thebalance sheet and statement of changes inequity of theCompany areproperly drawnup in
accordancewith theprovisionsof theAct andSingaporeFinancialReportingStandardssoas togivea trueand fair viewof the financial positionof theGroupandof the
Company as at 31December 2015 and of the financial performance, changes in equity and cash flows of theGroup and the changes in equity of theCompany for the
year endedon that date.
Report onother legal and regulatory requirements
Inour opinion, theaccountingandother records requiredby theAct tobekept by theCompany and those subsidiary corporations incorporated inSingaporeof which
weare theauditorshavebeenproperly kept inaccordancewith theprovisionsof theAct.
Ernst&YoungLLP
PublicAccountantsand
CharteredAccountants
Singapore
8March2016
Independentauditor’sreport
For the financial year ended31December 2015
68
69
BAKERTECHNOLOGYlimited
ANNUAL REPORT 2015
