SEO Version
ANNUAL REPORT 2011
in Unitholders’ funds of the Group and the Trust and statement of cash fows of the Group for the period then
of signifcant accounting policies and other explanatory information, as set out on pages 68 to 102.
MANAGER’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Manager of the Trust is responsible for the preparation and fair presentation of these fnancial statements
recommendations of Statement of Recommended Accounting Practice 7 “Reporting Framework for Unit Trust
of Certifed Public Accountants of Singapore, and for such internal control as the Manager of the Trust det
enable the preparation of fnancial statements that are free from material misstatement, whether due to fraud
AUDITORS’ RESPONSIBILITY
Our responsibility is to express an opinion on these fnancial statements based on our audit. We conducted
with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements an
audit to obtain reasonable assurance about whether the fnancial statements are free from material misstate
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in t
The procedures selected depend on the auditor’s judgement, including the assessment of the risks of mate
fnancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers
to the Trust’s preparation and fair presentation of the fnancial statements in order to design audit procedure
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s intern
includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting
Manager of the Trust, as well as evaluating the overall presentation of the fnancial statements.
We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our a
OPINION
In our opinion, the consolidated fnancial statements of the Group and the statement of fnancial position of the
material respects, the fnancial position of the Group and the Trust as at 31 December 2011 and the total retu
and movements in Unitholders’ funds of the Group and the Trust and cash fows of the Group for the period th
with the recommendations of Statement of Recommended Accounting Practice 7 “Reporting Framework fo
the Institute of Certifed Public Accountants of Singapore.
KPMG LLP
Public Accountants and
Certifed Public Accountants
Singapore
24 February 2012
Sabana AR 2011 Financial V9.indd 67
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