Vtech 2008 Annual Report Download - page 30

VTech Holdings Ltd Annual Report 2008
28
INDEPENDENT AUDITOR’S REPORT
To the Shareholders of VTech Holdings Limited
(Incorporated in Bermuda with limited liability)
We have audited the consolidated  nancial statements of VTech
Holdings Limited (“the Company”) set out on pages 29 to 52,
which comprise the consolidated and company balance sheets
as at 31st March 2008, and the consolidated income statement,
the consolidated statement of changes in shareholders’ funds
and the consolidated cash  ow statement for the year then
ended, and a summary of signi 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  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
 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  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  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 true 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 e ectiveness 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  nancial statements.
We believe that the audit evidence we have obtained is
su cient and appropriate to provide a basis for our audit
opinion.
OPINION
In our opinion, the consolidated  nancial statements give a true
and fair view of the  nancial position of the Company and of the
Group as of 31st March 2008 and of the Group’s pro t and cash
 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
Certi ed Public Accountants
8th Floor, Prince’s Building
10 Chater Road
Central, Hong Kong
3rd July 2008