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Independent Auditor’s Report





             AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL
             STATEMENTS (CONTINUED)

             •    Conclude  on  the  appropriateness  of  the  directors’  use  of  the  going  concern  basis  of  accounting
                  and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
                  conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we
                  conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to
                  the related disclosures in the consolidated financial statements or, if such disclosures are inadequate,
                  to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
                  auditor’s report. However, future events or conditions may cause the Group to cease to continue as a
                  going concern.

             •    Evaluate  the  overall  presentation,  structure  and  content  of  the  consolidated  financial  statements,
                  including  the  disclosures,  and  whether  the  consolidated  financial  statements  represent  the  underlying
                  transactions and events in a manner that achieves fair presentation.


             •    Obtain  sufficient  appropriate  audit  evidence  regarding  the  financial  information  of  the  entities  or
                  business  activities  within  the  Group  to  express  an  opinion  on  the  consolidated  financial  statements.
                  We are responsible for the direction, supervision and performance of the group audit. We remain solely
                  responsible for our audit opinion.


             We communicate with the Audit Committee regarding, among other matters, the planned scope and timing of
             the audit and significant audit findings, including any significant deficiencies in internal control that we identify
             during our audit.


             We  also  provide  the  Audit  Committee  with  a  statement  that  we  have  complied  with  relevant  ethical
             requirements regarding independence, and to communicate with them all relationships and other matters that
             may reasonably be thought to bear on our independence, and where applicable, related safeguards.


             From the matters communicated with the Audit Committee, we determine those matters that were of most
             significance in the audit of the consolidated financial statements of the current period and are therefore the
             key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public
             disclosure  about  the  matter  or  when,  in  extremely  rare  circumstances,  we  determine  that  a  matter  should
             not  be  communicated  in  our  report  because  the  adverse  consequences  of  doing  so  would  reasonably  be
             expected to outweigh the public interest benefits of such communication.

             The  engagement  partner  on  the  audit  resulting  in  this  independent  auditor’s  report  is  Johnny  Ka  Keung
             Wong.







             PricewaterhouseCoopers
             Certified Public Accountants


             Hong Kong, 28th June 2017


                                                                      ALCO HOLDINGS LIMITED  ANNUAL REPORT 2017  43
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