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39 38 Best World International Limited
Annual Report 2011
Best World International Limited
Annual Report 2011
STATEMENT BY
DIRECTORS
INDEPENDENTAUDITORS’REPORT
TOTHEMEMBERSOF
BESTWORLD INTERNATIONAL LIMITED
(Registration No: 199006030Z)
In the opinion of the directors,
(a)the accompanying consolidated statement of income, consolidated statement of comprehensive income,
statements of fnancial position, statements of changes in equity, consolidated statement of cash fows,
and notes thereto are drawn up so as to give a true and fair view of the state of affairs of the company and
of the group as at 31 December 2011 and of the results and cash fows of the group and changes in equity
of the company and of the group for the reporting year then ended; and
(b)at the date of this statement there are reasonable grounds to believe that the company will be able to pay
its debts as and when they fall due.
The board of directors approved and authorised these fnancial statements for issue.
Report on the Financial Statements
We have audited the accompanying fnancial statements of Best World International Limited (the “company” )
and its subsidiaries (the “group” ), which comprise the consolidated statement of fnancial position of the group
and the statement of fnancial position of the company as at 31 December 2011, and the consolidated statement
of income, consolidated statement of comprehensive income, statement of changes in equity and statement of
cash fows of the group, and statement of changes in equity of the company for the reporting year then ended,
and a summary of signifcant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of the 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 statement of income, statement of comprehensive income and statements of fnancial position 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
consolidated fnancial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the consolidated 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 consolidated 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 consolidated fnancial statements.
We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our audit
opinion.
On Behalf of the Directors
7 March 2012
Doreen Tan Nee Moi
Director
Dora Hoan Beng Mui
Director