bao cao thuong nien bao minh

INDIPENDENT
AUDITOR’S REPORT
No.: 506/VNIA-HC-BC
March 28 th , 2014, Ho Chi Minh City, Socialist Republic of Vietnam
To: Shareholders, Board of Directors, Executive Board and Supervisory Board – Bao Minh Insurance Corporation
We have audited the attached consolidated financial statements reported on March 28, 2014, consisting of consolidated balance
sheet, consolidated income statement, consolidated statement of cash flows and Notes to consolidated financial statements
(generally referred to “consolidated financial statements”) of Bao Minh Insurance Corporation (“Corporation” in short) from page
4 to page 33 for the fiscal year ended December 31, 2013.
Responsibilities of Executive Board
The Executive Board assumes the responsibility for preparation of consolidated financial statements of the Corporation, assuring disclosures
on a rational basic, company with accounting standards, Vietnam’s business accounting regime applied to insurance companies
and statutory regulations related to preparation of financial statements; and also assumes the responsibility for necessary internal supervision
to assure that the consolidated financial statements are free of material misstatement.
Responsibilities of Auditors
We assume the responsibility to form an independent opinion on the consolidated financial statements based on our audit. We conducted
our audit in compliance with the Vietnamese accounting standards. Such standards force us to observe standards and regulations
upon professional etiquette, work out a plan and proceed our audit so as to obtain the assurance that the consolidated financial
statements are free of material misstatement.
Our audit consisted of procedures to collect evidence relevant to figures and notes in the consolidated financial statements. Auditing
procedures were chosen based on the judgments of auditors, including assessments of risky and major errors in the consolidated financial
statements due to fraud or mistakes. When evaluating such risks, auditors took into consideration internal audits of the Corporation related
to the preparation of the consolidated financial statements to ensure discoursers on a rational basis in order to draw up auditing procedures
satisfactory to practical situation, but not to form an opinion on the efficiency of internal audits of the Corporation. Our audit also consisted
of assessments regarding the rational basis of accounting policies currently in use and of accounting estimates by the Executive Board as
well as assessment regarding overall preparation of the consolidated financial statements. We believe that we have collected a full range of
evidence providing a reasonable basis for our opinion.
Auditor’s opinion
According to our opinion, the consolidated financial statements give a true and fair view, in all material respects, of the financial position
of the Corporation on December 31, 2013 as well as its operating results and cash flows for the year then ended in conformity with the
Vietnamese accounting standards, business accounting regime applied to insurance companies and statutory regulations related to the
preparation of financial statements.
VO THAI HOA
Audit Partner
Audit Practising Registration Certificate No. 0138-2013-001-1
For and on behalf of DELOITTE VIETNAM COMPANY LIMITED
HUYNH THANH PHUONG
Auditor
Audit Practising Registration Certificate
No. 2061-2013-001-1
www.baominh.com.vn