ASCENDAS india trust ANNUAL REPORT 2014/15
Independent Auditor’s Report to the UNITHOLDERS OF ASCENDAS INDIA TRUST
Report on the Financial Statements
We have audited the accompanying financial statements of Ascendas India Trust (the “Trust”) and its subsidiaries (collectively the
“Group”) set out on pages 75 to 141, which comprise the balance sheets of the Group and the Trust as at 31 March 2015, the
consolidated income statement, the consolidated statement of comprehensive income, the distribution statement, the consolidated
statement of changes in unitholders’ funds and the 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.
Trustee-Manager’s Responsibility for the Financial Statements
The Trustee-Manager is responsible for the preparation of financial statements that give a true and fair view in accordance with
the provisions of the Singapore Business Trusts 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 profit and loss accounts and balance sheets 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 controls
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 consolidated financial statements of the Group and the balance sheet of the Trust 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
state of affairs of the Group and of the Trust as at 31 March 2015, and of the results, changes in unitholders’ fund 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 Trustee-Manager on behalf of the Trust,
have been properly kept in accordance with the provisions of the Act.
Ernst & Young LLP
Public Accountants and Chartered Accountants
Singapore, 29 April 2015
I N D E P E N D E N T A U D I T O R ’ S R E P O R T
For the financial year ended 31 March 2015
