Vtech 2015 Annual Report Download - page 46

VTech Holdings Limited Annual Report 2015
Independent Auditor’s Report
44
To the Shareholders of VTech Holdings Limited
(Incorporated in Bermuda with limited liability)
We have audited the consolidated financial statements of VTech
Holdings Limited (“the Company”) and its subsidiaries (together
“the Group”) set out on pages 45 to 70, which comprise the
consolidated and Company balance sheets as at 31 March 2015,
the consolidated income statement, the consolidated statement
of comprehensive income, the consolidated statement of changes
in equity and the consolidated statement of cash flows for the year
then ended and a summary of significant accounting policies and
other explanatory information.
Directors’ Responsibility for the Consolidated
Financial Statements
The directors of the Company are responsible for the preparation
of consolidated financial statements that give a true and fair view
in accordance with International Financial Reporting Standards
issued by the International Accounting Standards Board and
the disclosure requirements of the Hong Kong Companies
Ordinance and for such internal control as the directors determine
is necessary to enable the preparation of consolidated financial
statements that are free from material misstatement, whether due
to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these consolidated
financial 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 issued by the International Auditing and
Assurance Standards Board. Those standards require that we
comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the consolidated
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence
about the amounts and disclosures in the consolidated financial
statements. The procedures selected depend on the auditor’s
judgement, including the assessment of the risks of material
misstatement of the consolidated 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
the consolidated 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
the directors, as well as evaluating the overall presentation of the
consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the consolidated financial statements give a true
and fair view of the state of affairs of the Company and of the
Group as at 31 March 2015 and of the Group’s profit and cash
flows for the year then ended in accordance with International
Financial Reporting Standards and have been properly prepared
in accordance with the disclosure requirements of the Hong Kong
Companies Ordinance.
KPMG
Certied Public Accountants
8th Floor, Prince’s Building
10 Chater Road
Central, Hong Kong
19 May 2015