Positioning for the Future | 105
Appendix
Independent Auditors’ Report
To the members of CapitaLand Limited
We have audited the accompanying mnancial statements of CapitaLand Limited (the Company) and its subsidiaries
(the Group), which comprise the balance sheets of the Group and the Company as at 31 December 2014, the income
statements, statements of comprehensive income and statements of changes in equity of the Group and the Company
and the statement of cash nows of the Group for the year then ended, and a summary of signimcant accounting policies
and other explanatory information, as set out on pages 106 to 220.
MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
Management is responsible for the preparation of mnancial 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 sufmcient 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 promt and loss accounts and balance
sheets and to maintain accountability of assets.
AUDITORS’ RESPONSIBILITY
Our responsibility is to express an opinion on these mnancial 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 mnancial statements are free from
material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the mnancial
statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of
material misstatement of the mnancial 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 mnancial 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 mnancial statements.
We believe that the audit evidence we have obtained is sufmcient and appropriate to provide a basis for our audit opinion.
OPINION
In our opinion, the consolidated mnancial statements of the Group and the balance sheet, income statement, statement
of comprehensive income and statement of changes in equity of the Company 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 Group and of the Company as at 31 December 2014 and the results and changes in equity of the Group
and the Company and cash nows of the Group for the 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 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
27 February 2015
