Creative 2011 Annual Report Download - page 17

17
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
INDEPENDENT AUDITOR’S REPORT
to the members of Creative Technology Ltd.
Report on the Financial Statements
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 consolidated balance sheet of the Group and the balance sheet of the
Company as at 30 June 2011, 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 information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of nancial statements that give a true and fair view in accordance with the provisions
of the Singapore Companies Act (the “Act”) and Singapore Financial Reporting Standards, and for devising and maintaining a
system of internal accounting controls sufcient to provide a reasonable assurance that assets are safeguarded against loss from
unauthorised use or disposition, that 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.
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 about 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 controls
relevant to the entity’s preparation of nancial 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
controls. 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, the consolidated nancial statements of the Group and the balance sheet of the Company 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 Group and of the Company as at 30 June 2011, and the results, changes in equity and cash ows of the
Group for the nancial year ended on that date.
Report on other Legal and Regulatory Requirements
In our opinion, 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 auditors, have been properly kept in accordance with the provisions of the Act.
PricewaterhouseCoopers LLP
Public Accountants and Certied Public Accountants
Singapore
21 September 2011