Report
of The Director of Audit to The Legislative Council
I have audited the attached financial statements which have been
prepared in accordance with accounting principles generally accepted
in Hong Kong.
Respective responsibilities of the General Manager, Electrical
and Mechanical Services Trading Fund and the Director of Audit
Under section 7(4) of the Trading Funds Ordinance (Cap. 430), the
General Manager, Electrical and Mechanical Services Trading Fund
is responsible for the submission of financial statements prepared
in accordance with generally accepted accounting principles and
signed by him to me. In preparing the financial statements, the
General Manager, Electrical and Mechanical Services Trading Fund
has to select appropriate accounting policies and to apply them
consistently.
It is my responsibility to form an independent opinion, based on
my audit, on those statements and to report my opinion to you.
Basis of opinion
I certify that I have examined and audited the financial statements
referred to above in accordance with section 7(5) of the Trading
Funds Ordinance and the Audit Commission auditing standards. An
audit includes examination, on a test basis, of evidence relevant
to the amounts and disclosures in the financial statements. It also
includes an assessment of the significant estimates and judgements
made by the General Manager, Electrical and Mechanical Services
Trading Fund in the preparation of the financial statements, and
of whether the accounting policies are appropriate to the Electrical
and Mechanical Services Trading Fund's circumstances, consistently
applied and adequately disclosed.
I planned and performed my audit so as to obtain all the information
and explanations which I considered necessary in order to provide
me with sufficient evidence to give reasonable assurance as to whether
the financial statements are free from material misstatement. In
forming my opinion I also evaluated the overall adequacy of the
presentation of information in the financial statements. I believe
that my audit provides a reasonable basis for my opinion.
Opinion
In my opinion the financial statements give a true and fair view
of the state of affairs of the Electrical and Mechanical Services
Trading Fund as at 31 March 2000 and of the results of its operations
and cash flows for the year then ended and have been properly prepared
in accordance with the manner provided in section 7(4) of the Trading
Funds Ordinance.
(LEUNG Kwok-kit, George)
Acting Assistant Director of Audit
for Director of Audit
Audit Commission
Hong Kong
11 September 2000
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