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EC World Real Estate Investment Trust ANNUAL REPORT 2016
Other Information
The Manager is responsible for the other information. The other information comprises all the sections of the annual
report, but does not include the financial statements and our auditor’s report thereon.
Our opinion on the financial statements does not cover the other information and we do not and will not express any
form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information identified
above and, in doing so, consider whether the other information is materially inconsistent with the financial statements
or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have
performed on the other information that we obtained prior to the date of this auditor’s report, we conclude that there
is a material misstatement of this other information, we are required to report that fact. We have nothing to report in
this regard.
Responsibilities of the Manager and those charged with governance for the Financial Statements
The manager and those charged with governance are responsible for the preparation and fair presentation of these
financial statements 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 for such
internal control as the manager determines is necessary to enable preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the manager is responsible for assessing the Group’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless the manager either intends to liquidate the Group or to cease operations, or has no realistic alternative but to
do so.
The manager’s responsibilities include overseeing the Group’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
SSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SSAs, we exercise professional judgement and maintain professional scepticism
throughout the audit. We also:
•
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
•
Obtain an understanding of internal control relevant to the audit 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
Group’s internal control.
INDEPENDENT AUDITOR’S REPORT
to the Unitholders
OF EC WORLD REIT
(Constituted under a Trust Deed in the Republic of Singapore)