Annual Report 2012 - HKExnews

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Report of the Directors (Continued) Corporate Governance Report Details of the Group’s corporate governance practices can be found in the Corporate Governance Report contained on pages 29 to 38 in this annual report. Closure of the Register of Members The Register of Members will be closed from 6 May 2013 (Monday) to 8 May 2013 (Wednesday), both days inclusive, during which period no transfer of shares of the Company shall be registered. In order to qualify for attending the forthcoming annual general meeting of the Company, all transfers of shares, accompanied by the relevant share certificates and transfer forms, must be lodged with the Company’s branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited, at 26/F., Tesbury Centre, 28 Queen’s Road East, Wanchai, Hong Kong for registration not later than 4:30 p.m. on 3 May 2013 (Friday). Auditors A resolution to re-appoint the retiring auditors, Messrs. PricewaterhouseCoopers, is to be proposed at the forthcoming annual general meeting of the Company. By order of the Board Focus Media Network Limited Wong Hong Gay Patrick Jonathan Chairman, CEO and Executive Director Hong Kong, 19 March 2013 50 FOCUS MEDIA NETWORK LIMITED Annual Report 2012
Independent Auditor’s Report TO THE SHAREHOLDERS OF FOCUS MEDIA NETWORK LIMITED (incorporated in the Cayman Islands with limited liability) We have audited the consolidated financial statements of Focus Media Network Limited (the “Company”) and its subsidiaries (together, the “Group”) set out on pages 53 to 96, which comprise the consolidated and company statements of financial position as at 31 December 2012, and the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Directors’ Responsibility for the Consolidated Financial Statements The directors of the Company are responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants and the disclosure requirements of the Hong Kong Companies Ordinance, and for such internal control as the directors determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit and to report our opinion solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of consolidated 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 the directors, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. FOCUS MEDIA NETWORK LIMITED Annual Report 2012 51
Page 2 and 3: Characteristics of the Growth Enter
Page 4 and 5: Corporate Information Board of Dire
Page 6 and 7: Chairman’s Statement (Continued)
Page 8 and 9: Chairman’s Statement (Continued)
Page 10 and 11: Financial Highlights & Summary Fina
Page 12 and 13: Management Discussion and Analysis
Page 20 and 21: Comparison Between Future Plans and
Page 22 and 23: Use of Proceeds The Company was inc
Page 24 and 25: Directors and Senior Management Pro
Page 32 and 33: Corporate Governance Report (Contin
Page 42 and 43: Report of the Directors (Continued)
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Page 56 and 57: Consolidated Statement of Financial
Page 58 and 59: Statement of Financial Position As
Page 60 and 61: Consolidated Statement of Changes i
Page 62 and 63: Notes to the Consolidated Financial
Page 98: Notes to the Consolidated Financial

Annual Report 2012 - HKExnews

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