Vtech 2009 Annual Report Download - page 35

INDEPENDENT AUDITOR’S REPORT
VTech Holdings Ltd Annual Report 2009 33
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”) set out on pages
34 to 57, which comprise the consolidated and Company
balance sheets as at 31st March 2009, and the consolidated
income statement, the consolidated statement of changes
in shareholders’ funds and the consolidated cash flow
statement for the year then ended, and a summary of
significant 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
financial 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 financial 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 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 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
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit
evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the
auditor’s judgement, including the assessment of the risks of
material misstatement of the financial 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 financial
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 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 financial position of the
Company and of the Group as of 31st March 2009 and of
the Group’s profit and cash flows 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.
KPMG
Certified Public Accountants
8th Floor, Prince’s Building
10 Chater Road
Central, Hong Kong
15th June 2009