Creative 2010 Annual Report Download - page 17

17
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
IndePendent AudItoR’s RePoRt
to the members of Creative Technology Ltd.
We have audited the accompanying nancial statements of Creative Technology Ltd. (the “Company”) and its subsidiaries (the
“Group”) set out on pages 18 to 61, which comprise the balance sheets of the Company and of the Group as at 30 June 2010, the
consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in
equity and the consolidated statement of cash ows of the Group for the nancial year then ended, and a summary of signicant
accounting policies and other explanatory notes.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these nancial statements in accordance with the provisions of
the Singapore Companies Act (Cap. 50) (the “Act”) and Singapore Financial Reporting Standards. This responsibility includes:
(a) devising and maintaining a system of internal accounting control sufcient 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 prot and loss accounts and balance sheets and to maintain
accountability of assets;
(b) selecting and applying appropriate accounting policies; and
(c) making accounting estimates that are reasonable in the circumstances.
Auditor’s Responsibility
Our responsibility is to express an opinion on these nancial 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 as to whether the nancial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the nancial statements.
The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of
the nancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the entity’s preparation and fair presentation of the nancial 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 management, as well as evaluating the overall presentation of the nancial statements.
We believe that the audit evidence we have obtained is sufcient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion,
(a) the balance sheet of the Company and the consolidated nancial statements of the Group are properly drawn up in accordance
with the provisions of the Act and Singapore Financial Reporting Standards so as to give a true and fair view of the state of
affairs of the Company and of the Group as at 30 June 2010 and the results, changes in equity and cash ows of the Group
for the nancial year ended on that date; and
(b) the accounting and other records required by the Act to be kept by the Company and by those subsidiaries incorporated in
Singapore of which we are the auditor, have been properly kept in accordance with the provisions of the Act.
PricewaterhouseCoopers LLP
Public Accountants and Certied Public Accountants
28 September 2010