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CDL Hospitality TrustS
74
Independent Auditors’ Report
Auditors’ 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 the 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 the HBT
Trustee-Manager and the H-REIT Manager, 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.
Opinion
In our opinion:
(a) the fnancial statements of HBT are properly drawn up in accordance with the provisions of the Act and
Singapore Financial Reporting Standards to give a true and fair view of the state of affairs of HBT as at
31 December 2012 and the results, movements in unitholders’ funds and cash fows of HBT for the year then
ended; and
(b) the fnancial statements of the H-REIT Group and the Stapled Group present fairly, in all material respects,
the consolidated fnancial positions of the H-REIT Group and the Stapled Group as at 31 December 2012 and
the consolidated total return, movements in unitholders’ funds, distributable income and cash fows of the
H-REIT Group and of the Stapled Group for the year then ended in accordance with the recommendations
of Statement of Recommended Accounting Practice 7 “Reporting Framework for Unit Trusts” issued by the
Institute of Certifed Public Accountants of Singapore and the provisions of the H-REIT Trust Deed and the
Stapling Deed.
Report on other legal and regulatory requirements
In our opinion, the accounting and other records required by the Act to be kept by HBT Trustee-Manager on behalf
of HBT have been properly kept in accordance with the provisions of the Act.
KPMG LLP
Public Accountants and
Certifed Public Accountants
Singapore
12 March 2013