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INDEPENDENT AUDITOR’S REPORT
For the fnancial year ended 31 March 2014
Independent Auditor’s Report to the Members of MTQ Corporation Limited
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying fnancial statements of MTQ Corporation Limited (the “Company”) and its subsidiaries
(collectively, the “Group”) set out on pages 44 to 137, which comprise the balance sheets of the Group and the Company
as at 31 March 2014, the statements of changes in equity of the Group and the Company, and the consolidated statement
of comprehensive income and consolidated statement cash fows of the Group for the year then ended, and a summary of
signifcant accounting policies and other explanatory information.
Management’s responsibility for the fnancial statements
Management is responsible for the preparation of fnancial statements that give a true and fair view in accordance with
the provisions of the Singapore Companies Act, Chapter 50 (the “Act”) and Singapore Financial Reporting Standards, and
for devising and maintaining a system of internal accounting controls suffcient to provide a reasonable assurance that
assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and
that they are recorded as necessary to permit the preparation of true and fair proft and loss accounts and balance sheets
and to maintain accountability of assets.
Auditor’s responsibility
Our responsibility is to express an opinion on these fnancial 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 fnancial statements are free from
material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fnancial
statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the fnancial statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation of fnancial 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 management, as well as evaluating the overall
presentation of the fnancial statements.
We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our audit opinion.