Vtech 2007 Annual Report Download - page 31

VTech Holdings Ltd
Annual Report 2007 29
To the Shareholders of VTech Holdings Limited
(Incorporated in Bermuda with limited liability)
We have audited the consolidated fi nancial statements of
VTech Holdings Limited (“the Company”) set out on pages
30 to 52 which comprise the consolidated and company
balance sheets as at 31st March 2007, and the consolidated
income statement, the consolidated statement of changes in
shareholders’ funds and the consolidated cash fl ow statement
for the year then ended, and a summary of signifi cant
accounting policies and other explanatory notes.
DIRECTORS’ RESPONSIBILITY FOR THE
FINANCIAL STATEMENTS
The directors of the Company are responsible for the
preparation and the true and fair presentation of these
fi nancial statements in accordance with International Financial
Reporting Standards promulgated by the International
Accounting Standards Board and the disclosure requirements
of the Hong Kong Companies Ordinance. This responsibility
includes designing, implementing and maintaining internal
control relevant to the preparation and the true and fair
presentation of fi nancial statements that are free from
material misstatement, whether due to fraud or error;
selecting and applying appropriate accounting policies;
and making accounting estimates that are reasonable
in the circumstances.
AUDITOR’S RESPONSIBILITY
Our responsibility is to express an opinion on these consolidated
fi nancial statements based on our audit. This report is made
solely to you, as a body, in accordance with Section 90 of the
Bermuda Companies Act 1981, and for no other purpose. We
do not assume responsibility towards or accept liability to any
other person for the contents of this report.
We conducted our audit in accordance with International
Standards on Auditing as promulgated by the International
Federation of Accountants. Those standards require that
we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance as to whether the
fi nancial statements are free from material misstatement.
An audit involves performing procedures to obtain audit
evidence about the amounts and disclosures in the fi nancial
statements. The procedures selected depend on the auditor’s
judgement, including the assessment of the risks of material
misstatement of the fi 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 true and fair presentation of the fi 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 the directors, as well as
evaluating the overall presentation of the fi nancial statements.
We believe that the audit evidence we have obtained is suffi cient
and appropriate to provide a basis for our audit opinion.
OPINION
In our opinion, the consolidated fi nancial statements give a
true and fair view of the fi nancial position of the Company
and of the Group as of 31st March 2007 and of the Group’s
profi t and cash fl ows for the year then ended in accordance
with International Financial Reporting Standards promulgated
by the International Accounting Standards Board and the
disclosure requirements of the Hong Kong Companies
Ordinance and the Bermuda Companies Act 1981.
KPMG
Certifi ed Public Accountants
8th Floor, Prince’s Building
10 Chater Road
Central, Hong Kong
20th June 2007
Independent Auditor’s Report
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