Singapore Airlines 2016 Annual Report Download - page 96

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Report on the audit of the financial statements
Opinion
We have audited the financial statements of Singapore Airlines Limited (the Company) and its subsidiaries (the Group) which comprise the consolidated
statement of financial position of the Group and the statement of financial position of the Company as at 31 March 2016, the consolidated profit and
loss account, consolidated statements of comprehensive income, changes in equity and cash flows of the Group, and the statement of changes in
equity of the Company for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and
other explanatory information as set out on pages 103 to 211.
In our opinion, the accompanying consolidated financial statements of the Group and the statement of financial position and statement of changes in
equity of the Company are properly drawn up in accordance with the provisions of the Singapore Companies Act, Chapter 50 (the Act) and Singapore
Financial Reporting Standards (FRSs) 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 March 2016 and the consolidated financial performance, consolidated changes in equity and consolidated cash flows of the
Group and the 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 ‘Auditors’ 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 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 suicient
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.
Independent Auditors’ Report
To the members of Singapore Airlines Limited
Singapore Airlines94
FINANCIAL