94
CDL
HOSPITALITY TRUSTS
Auditors’ 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 judgement, 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 the 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 the HBT Trustee-Manager and the
H-REIT Manager, 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:
(a)
the financial statements of the HBT Group 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 the HBT Group as at
31 December 2014 and the results, movements in unitholders’ funds and cash flows of the HBT Group for the year
then ended; and
(b)
the financial statements of the H-REIT Group and the Stapled Group present fairly, in all material respects, the
consolidated financial positions of the H-REIT Group and the Stapled Group as at 31 December 2014 and the
consolidated total return, movements in unitholders’ funds, distributable income and cash flows 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 Singapore
Chartered Accountants 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 and by those subsidiaries incorporated in Singapore of which we are the auditors have been properly kept in
accordance with the provisions of the Act.
KPMG LLP
Public Accountants and
Chartered Accountants
Singapore
13 March 2015
INDEPENDENT AUDITORS’ REPORT
