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CapitaMall Trust Annual Report 2013 148 Clarity
Independent
Auditors’ Report
Unitholders of CapitaMall Trust
(Established in the Republic of Singapore pursuant to a Trust Deed dated 29 October 2001 (as amended))
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of CapitaMall Trust (the “Trust”) and its subsidiaries
(the “Group”), which comprise the Statements of Financial Position and Portfolio Statements of the Group and the Trust
as at 31 December 2013, and the Statements of Total Return, Distribution Statements, Statements of Movements in
Unitholders’ Funds and Statements of Cash Flow of the Group and the Trust for the year then ended, and a summary
of significant accounting policies and other explanatory information, as set out on pages 149 to 222.
Manager’s responsibility for the financial statements
The Manager of the Trust is responsible for the preparation and fair presentation of these financial statements in
accordance with the recommendations of Statement of Recommended Accounting Practice 7 “Reporting Framework
for Unit Trusts” issued by the Institute of Singapore Chartered Accountants, and for such internal control as the Manager
of the Trust determines is necessary to enable the preparation of financial statements that are free from material
misstatements, whether due to fraud or error.
Auditors’ responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in
accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance about 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 judgement, 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 control relevant to the Trust’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 Trust’s internal control. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by the Manager of the Trust, 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.
Opinion
In our opinion, the consolidated financial statements of the Group and the financial statements of the Trust present
fairly, in all material respects, the financial position of the Group and of the Trust as at 31 December 2013 and the total
return, distributable income, movements in Unitholders’ funds and cash flows of the Group and of the Trust for the
year then ended in accordance with the recommendations of Statement of Recommended Accounting Practice 7
“Reporting Framework for Unit Trusts” issued by the Institute of Singapore Chartered Accountants.
KPMG LLP
Public Accountants and
Chartered Accountants
Singapore
4 February 2014