Vtech 2013 Annual Report Download - page 45

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Independent Auditor’s Report
43
VTech Holdings Ltd Annual Report 2013
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 2013 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
Certified Public Accountants
8th Floor, Prince’s Building
10 Chater Road
Central, Hong Kong
15 May 2013
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 44 to 70, which comprise the
consolidated and Company balance sheets as at 31 March 2013,
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.