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Annual Report 2017
117
Report on the financial statements
Opinion
We have audited the financial statements of Kumpulan Fima Berhad, which comprise the statement of financial position as at
31 March 2017 of the Group and of the Company, and statements of profit or loss and other comprehensive income, statements of
changes in equity and statements of cash flows of the Group and of the Company for the year then ended, and notes to the financial
statements, including a summary of significant accounting policies, as set out on pages 123 to 209.
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Group and of the
Company as at 31 March 2017, and of their financial performance and their cash flows for the year then ended in accordance with
Financial Reporting Standards and the requirements of the Companies Act, 2016 in Malaysia.
Basis for opinion
We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Our
responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements
section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.
Independence and other ethical responsibilities
We are independent of the Company in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian
Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ Code of Ethics for Professional
Accountants (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA
Code.
Key Audit Matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
statements of the Group and of the Company for the current year. These matters were addressed in the context of our audit of the
financial statements of the Group and of the Company as a whole, and in forming our opinion thereon, and we do not provide a
separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that
context.
We have fulfilled the responsibilities described in the Auditors’ responsibilities for the audit of the financial statements section of our
report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond
to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including
the procedures performed to address the matters below, provide the basis of our audit opinion on the accompanying financial
statements.
Impairment of property, plant and equipment and biological assets
(Refer to Note 13, Note 15 and Note 42(i))
On 23 August 2016, the Company’s subsidiary, PT Nunukan Jaya Lestari (“PTNJL”), received an order issued by the Menteri Agraria
dan Tata Ruang/Kepala Badan Pertanahan Nasional (“Ministerial Order”) dated 25 July 2016 to revoke PTNJL’s right for the cultivation
of oil palm in Kalimantan Utara with immediate effect.
Independent auditors’ report
to the members of Kumpulan Fima Berhad
(Incorporated in Malaysia)