Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.

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Independent Auditor’s Report PricewaterhouseCoopers (Cambodia) Ltd 124 Norodom Boulevard, Chamkarmon Phnom Penh Kingdom of Cambodia Tel : (855) 23 218 086 Fax : (855) 23 211 594 To the Shareholders of Canadia Bank Plc. We have audited the accompanying financial statements of Canadia Bank Plc. ("the Bank") which comprise the balance sheet as of 31 December 2008 and the income statement, statement of changes in equity and cash flow statement for the year then ended, a summary of significant accounting policies and other explanatory notes on pages 19 to 70. Management's Responsibility for the Financial Statements The Board of Directors is responsible for the preparation and fair presentation of these financial statements in accordance with guidelines issued by the National Bank of Cambodia and Cambodian Accounting Standards. This responsibility includes: designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error, selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. These Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the entity's preparation and fair presentation of the financial statements 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 financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Annual Report 2008 17
Opinion In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Bank as of 31 December 2008, and of its financial performance and its cash flows for the year then ended in accordance with the guidelines issued by the Central Bank and Cambodian Accounting Standards. For PricewaterhouseCoopers (Cambodia) Limited Phnom Penh, Kingdom of Cambodia Date: 31 March 2009 18 Annual Report 2008
Page 1 and 2: Annual Report 2008 64
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Page 7 and 8: PRESIDENT’S AND CEO'S REPORT Dist
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Page 25 and 26: INCOME STATEMENT FOR THE YEAR ENDED
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Page 31 and 32: CASH FLOW STATEMENT FOR THE YEAR EN
Page 33 and 34: 32 NOTES TO THE FINANCIAL STATEMENT
Page 35 and 36: 34 NOTES TO THE FINANCIAL STATEMENT
Page 37 and 38: NOTES TO THE FINANCIAL STATEMENTS 2
Page 69 and 70:
NOTES TO THE FINANCIAL STATEMENTS 3
Page 71 and 72:
NOTES TO THE FINANCIAL STATEMENTS 3
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