65 / 152
63
A N N U A L R E P O R T
2 0 1 8
Report on the audit of the financial statements
Opinion
We have audited the financial statements of Baker Technology Limited (the “Company”) and its subsidiaries
(collectively, the “Group”), which comprise the balance sheets of the Group and the Company as at
31 December 2018, the statements of changes in equity of the Group and the Company and the consolidated
statement of comprehensive income and consolidated cash flow statement of the Group for the year then
ended, and notes to the financial statements, including a summary of significant accounting policies.
In our opinion, the accompanying consolidated financial statements of the Group, the balance sheet and
the statement of changes in equity of the Company are properly drawn up in accordance with the provisions
of the Companies Act, Chapter 50 (the Act) and Singapore Financial Reporting Standards (International)
(SFRS(I)) so as to give a true and fair view of the consolidated financial position of the Group and the
financial position of the Company as at 31 December 2018 and of the consolidated financial performance,
consolidated changes in equity and consolidated cash flows of the Group and changes in equity of the
Company for the year ended on that date.
Basis for opinion
We conducted our audit in accordance with Singapore Standards on Auditing (SSAs). Our responsibilities
under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial
Statements section of our report. We are independent of the Group in accordance with the Accounting and
Corporate Regulatory Authority (ACRA) Code of Professional Conduct and Ethics for Public Accountants
and Accounting Entities (ACRA Code) together with the ethical requirements that are relevant to our
audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the ACRA Code. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Key audit matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our
audit of the financial statements of the current period. These matters were addressed in the context of
our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters. For each matter below, our description of how our audit addressed
the matter is provided in that context.
We have fulfilled our responsibilities described in the Auditor’s responsibilities for the Audit of the
Financial Statements section of our report, including in relation to these matters. Accordingly, our audit
included the performance of procedures designed to respond to our assessment of the risks of material
misstatement of the financial statements. The results of our audit procedures, including the procedures
performed to address the matters below, provide the basis for our audit opinion on the accompanying
financial statements.
Independent
auditor’s report
For the financial year ended 31 December 2018