NOTICE OF ANNUAL GENERAL MEETING
statisTICS OF SHAREHOLDINGs
FINANCIAL CONteNts
CORPORATE GOVERNANCE REPORT
51
Navigating Challenges • EMBRACING DIVERSITY | ANNUAL REPORT 2015
Independent auditors’ report
Members of the Company
Kim Heng Offshore & Marine Holdings Limited
Report on the financial statements
We have audited the accompanying financial statements of Kim Heng Offshore & Marine Holdings Limited (“the
Company”) and its subsidiaries (“the Group”), which comprise the statements of financial position of the Group and
the Company as at 31 December 2015, the statement of profit or loss and other comprehensive income, statement
of changes in equity and statement of cash flows of the Group for the year then ended, and a summary of significant
accounting policies and other explanatory information, as set out on pages 53 to 96.
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.
Auditors’ 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 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.
