REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of ISOTeam Ltd. (the “Company”) and its subsidiaries
(collectively the “Group”) as set out on pages 59 to 111, which comprise the statements of financial position of the
Group and the Company as at 30 June 2016, and the consolidated statement of comprehensive income, consolidated
statement of changes in equity and consolidated statement of cash flows of the Group for the financial year then
ended, and a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of the financial statements that give a true and fair view in accordance
with the provisions of the Singapore Companies Act (the “Act”) and Singapore Financial Reporting Standards, and for
devising and maintaining a system of internal accounting controls sufficient 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 financial statements and to maintain
accountability of assets.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial 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 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 judgment, 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 of 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 management, 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 financial statements of the Group and the statement of financial position of the Company are
properly drawn up in accordance with the provisions of the Act and Singapore Financial Reporting Standards so as to
give a true and fair view of the financial position of the Group and the Company as at 30 June 2016 and the financial
performance, changes in equity and cash flows of the Group for the financial year ended on that date.
REPORT ON OTHER LEGAL AND REGULATORY REqUIREMENTS
In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiary
corporations incorporated in Singapore of which we are the auditors, have been properly kept in accordance with the
provisions of the Act.
Baker Tilly TFW LLP
Public Accountants and
Chartered Accountants
Singapore
28 September 2016
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF ISOTEAM LTD.
58
ISOTEAM LTD.
ANNUAL REPORT 2016
