notes to the consolidated financial statements - Sacombank

STATEMENT BY MANAGEMENT
STATEMENT OF THE RESPONSIBILITY OF THE BOARD OF MANAGEMENT IN RESPECT OF THE CONSOLIDATED
FINANCIAL STATEMENTS
The Board of Directors is responsible for preparation of the consolidated financial statements which give a true and fair view of
the financial position of Saigon Thuong Tin Commercial Joint Stock Bank (“the Bank”) and its subsidiaries (together, “the Group”)
as at 31 December 2011 and of its results of operations and cash flows for the year then ended. In preparing these consolidated
financial statements, the Board of Management is required to:
n select suitable accounting policies and then apply them consistently;
n make judgments and estimates that are reasonable and prudent; and
n prepare the consolidated financial statements on a going concern basis unless it is inappropriate to presume that the
Group will continue in business.
We, the Board of Management are responsible for ensuring that proper accounting records are kept which disclose, with
reasonable accuracy at any time, the financial position of the Group and which enable consolidated financial statements to be
prepared which comply with the basis of accounting set out in Note 2 to the consolidated financial statements. The Bank’s Board
of Management is responsible for ensuring compliance with Vietnamese Accounting Standards, the Vietnamese Accounting
System and regulations applicable to banks and other credit institutions operating in SR Vietnam. We are also responsible for
safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS
We hereby approve the accompanying consolidated financial statements on page 5 to page 70 which give a true and fair view of
the financial position of the Group as at 31 December 2011 and of its results of operations and cash flows for the year then ended,
in accordance with Vietnamese Accounting Standards, the Vietnamese Accounting System and regulations applicable to banks
and other credit institutions operating in SR Vietnam.
For and on behalf of the Board of Directors
Tran Xuan Huy
Chief Executive Officer
Ho Chi Minh City, SR Vietnam
9 March 2012
ANNUAL REPORT 2011 90