Audit Representation Letter - Annua

Audit Representation Letter - Annual Audit





To the Auditor of KOSMEK ENGINEERING (THAILAND) CO., LTD.

Day JULY 15, 2014
Dear Auditor of KOSMEK ENGINEERING (THAILAND) CO., LTD.
Pursuant to your request and in connection with your audit of the annual financial statements of the company for the period from August 29, 2013 (Date of incorporated company) to March 31, 2014 we submit the following representations in respect of the economic entity comprising of KOSMEK ENGINEERING (THAILAND) CO., LTD. after making appropriate inquiries and according to the best of our knowledge and belief:

General
1 We acknowledge our responsibility for the correctness and completeness of the information presented in the annual financial statements in accordance with generally accepted accounting principles and as required by statute.
2 In selecting the appropriate accounting principles, policies and disclosures for preparation of the annual financial statements we have considered the substance of the underlying transactions as well as their form. All material and/or contentious issues, which management or the directors have discussed in the course of preparing the annual financial statements and the resolution of such issues, have been discussed with you.
3 All financial records and related data have been made available for inspection. All material transactions have been properly recorded in the accounting records underlying the annual financial statements. The accounting records were kept during the period in accordance with the requirements of the Accounting Act and the Revenue Code.
4 There have been no irregularities, errors or fraud involving any member of management or other employees that could have a material effect on the annual financial statements.

5 Except as disclosed to you, there have been no:
n violations or possible violations of laws or regulations, the effects of which should be considered for disclosure in the annual financial statements or as a basis for recording a contingent loss; or
n communications from regulatory authorities concerning non-compliance with, or deficiencies in, financial reporting practices.
6 There have been no changes in accounting policies or application of those policies that would have a material effect on the annual financial statements, except as disclosed in the annual financial statements.
Assets
7 Adequate provision has been made for allowances, which may be given, and for losses which may be sustained in connection with the collection of accounts receivable and non-trade receivables.
8 There were no deficiencies or encumbrances attaching to the title of the company’s assets at year-end other than those reflected in the annual financial statements.
9 There are no agreements to repurchase assets previously recorded in the accounting records as sold.
10 The carrying amounts of all non-current assets have been reviewed to determine whether they are in excess of their recoverable amount. If the carrying amount of a non-current asset exceeds the recoverable amount, the asset is written down to the lower value. Adequate provision has been made in the financial statements for any permanent diminution in the value to the Company of any non-current assets.
Liabilities
11 All liabilities which have arisen or which will arise out of the activities of the Company to the end of the financial period have been included in the annual financial statements.
12 There were no material contractual commitments for capital expenditure at period end not included or disclosed in the annual financial statements.
13 There were no material contingent liabilities, including guarantees and letters of comfort of legal effect (other than guarantees of the Company’s self performance), at period end which are not disclosed in the annual financial statements.
Other
14 No events have occurred subsequent to year-end, which would require adjustment to, or disclosure in the annual financial statements.
15 The company has no plans or intentions that may materially affect the book value or classification of assets and liabilities at year-end.
16 All details concerning related party transactions and related amounts receivable or payable (including sales, purchases, loans and guarantees) have been correctly recorded in the accounting records and have been properly disclosed, either where required by statute or where such disclosure is necessary for the fair presentation of the Company’s financial statements.
17 Adequate provision has been made for any material loss to be sustained as a result of:
n the fulfillment of, or from inability to fulfill, any sales commitments; or
n purchase commitments in excess of normal requirements or at prices in excess of current market prices.
18 Other than as detailed in the annual financial statements, the Company is not aware of any breach or non-compliance with the terms of any contractual arrangements, however caused, which could initiate claims on the Company which would have a material effect on the annual financial statements.
19 The annual financial statements properly disclose the details of share capital in respect of which options are outstanding.
20 The Company has not entered into any arrangement or agreement whereby it has directly or indirectly given financial assistance to another party for the purpose of, or in connection with, the acquisition of shares in the Company.
21 The Company has an established procedure whereby an officer reviews, at least annually, the adequacy of insurance cover on all assets and insurable risks. This review has been performed, and where it is considered appropriate, assets and insurable risks of the company are adequately covered by insurance.
22 The minutes of representative’s officer meetings and Audit committee meetings made available to you are a complete and authentic record of all meeting since August 29, 2013 to the date of this letter.
23 All matters arising from directors meetings, audit committee and other committee meetings and shareholders meetings, which impact on the annual financial statements, have been adequately disclosed therein.
24 Throughout the period the Company has conformed to the requirements of its debt agreements (and debenture trust deeds), including those relating to its net tangible assets ratios.
25 There have been no changes to, or introduction of new, information systems or incidents, which occurred during the period, which could adversely impact the basic completeness, and accuracy of the information systems and underlying data.
26 There were no open put or call options related to assets or liabilities (or potential assets or liabilities) of material significance to the Company which could if exercised have a material effect on the carrying amount of assets and liabilities and the profit and loss result for the period.
27 The Company’s policy is to enter into foreign exchange contracts to hedge its exposure to fluctuations in exchange rates from its purchase and sale commitments. The Company policy is not to trade in derivatives.
28 The Company’s financial statements have been presented in accordance with the Ministerial Regulation No. 2 (B.E. 2519), under the Announcement of the National Executive Council No. 285 dated 24 November B.E. 2515 and in conformity with generally accepted accounting principles practiced in Thailand.
29 The Company does not have its own solicitor for the Company’s operation
30 The company did not need to prepare consolidation financial statement because it has been prepared by parent company.

ผลลัพธ์ (อังกฤษ) 3:

Audit Representation Letter - Annual Audit





To the Auditor of KOSMEK ENGINEERING (THAILAND) CO, LTD.


, Day JULY 15 2014 Dear. Auditor of KOSMEK ENGINEERING (THAILAND) CO, LTD.
Pursuant to your request and in connection with your audit of the annual. Financial statements of the company for the period from, August 29 2013 (Date of incorporated company), to March 312014 we submit the following representations in respect of the economic entity comprising of KOSMEK ENGINEERING (THAILAND). CO, LTD. After making appropriate inquiries and according to the best of our knowledge and belief General:


.1 We acknowledge our responsibility for the correctness and completeness of the information presented in the annual financial. Statements in accordance with generally accepted accounting principles and as required by statute.
2 In selecting the appropriate. Accounting, principlesPolicies and disclosures for preparation of the annual financial statements we have considered the substance of the underlying. Transactions as well as their form. All material and / or contentious issues which management, or the directors have discussed. In the course of preparing the annual financial statements and the resolution of such issues have been, discussed with you.
.3 All financial records and related data have been made available for inspection. All material transactions have been properly. Recorded in the accounting records underlying the annual financial statements. The accounting records were kept during the. Period in accordance with the requirements of the Accounting Act and the Revenue Code.
4 There have been, no irregularitiesErrors or fraud involving any member of management or other employees that could have a material effect on the annual financial. Statements.

5 Except as disclosed, to you there have been no:
n violations or possible violations of laws, or regulations. The effects of which should be considered for disclosure in the annual financial statements or as a basis for recording. A contingent loss; or
.N communications from regulatory authorities concerning non-compliance with or deficiencies, in financial reporting, practices.
6. There have been no changes in accounting policies or application of those policies that would have a material effect on. The annual, financial statements except as disclosed in the annual financial statements.

7 Assets Adequate provision has. Been made, for allowancesWhich may be given and for, losses which may be sustained in connection with the collection of accounts receivable and. Non-trade receivables.
8 There were no deficiencies or encumbrances attaching to the title of the company s assets at year-end. ' Other than those reflected in the annual financial statements.
.9 There are no agreements to repurchase assets previously recorded in the accounting records as sold.
10 The carrying amounts. Of all non - current assets have been reviewed to determine whether they are in excess of their recoverable amount. If the. Carrying amount of a non - current asset exceeds the recoverable amount the asset, is written down to the lower value.Adequate provision has been made in the financial statements for any permanent diminution in the value to the Company of. Any non - current assets.

11 Liabilities All liabilities which have arisen or which will arise out of the activities of the. Company to the end of the financial period have been included in the annual financial statements.
.12 There were no material contractual commitments for capital expenditure at period end not included or disclosed in the. Annual financial statements.
13 There were no material contingent liabilities including guarantees, and letters of comfort. Of legal effect (other than guarantees of the Company 's self performance), at period end which are not disclosed in the. Annual financial statements.
.Other
14 No events have occurred subsequent to year-end which would, require adjustment to or disclosure, in the annual. Financial statements.
15 The company has no plans or intentions that may materially affect the book value or classification. Of assets and liabilities at year-end.
16 All details concerning related party transactions and related amounts receivable. Or payable (including, salesPurchases loans and, guarantees) have been correctly recorded in the accounting records and have been, properly disclosed. Either where required by statute or where such disclosure is necessary for the fair presentation of the Company s financial. ' Statements.
17 Adequate provision has been made for any material loss to be sustained as a result of:
n the fulfillment. Of.Or from inability, to fulfill any sales commitments; or
n purchase commitments in excess of normal requirements or at prices. In excess of current market prices.
18 Other than as detailed in the annual financial statements the Company, is not aware. Of any breach or non-compliance with the terms of any contractual arrangements however caused,,Which could initiate claims on the Company which would have a material effect on the annual financial statements.
19 The. Annual financial statements properly disclose the details of share capital in respect of which options are outstanding.
.20 The Company has not entered into any arrangement or agreement whereby it has directly or indirectly given financial. Assistance to another party for the, purpose of or in connection with the acquisition, of shares in the Company.
21 The. Company has an established procedure whereby an, officer reviews at least annually the adequacy, of insurance cover on all. Assets and insurable risks.This review has, been performed and where it is, considered appropriate assets and insurable risks of the company are adequately. Covered by insurance.
22 The minutes of representative 's officer meetings and Audit committee meetings made available to. You are a complete and authentic record of all meeting since August 29 2013 to, the date of this letter.
.23 All matters arising from, directors meetings audit committee and other committee meetings and, shareholders meetings. Which impact on the annual, financial statements have been adequately disclosed therein.
24 Throughout the period the Company. Has conformed to the requirements of its debt agreements (and debenture trust deeds), including those relating to its net. Tangible assets ratios.
.25 There have been no changes to or introduction, of new information systems, or incidents which occurred, during, the period. Which could adversely impact the, basic completeness and accuracy of the information systems and underlying data.
.26 There were no open put or call options related to assets or liabilities (or potential assets or liabilities) of material. Significance to the Company which could if exercised have a material effect on the carrying amount of assets and liabilities. And the profit and loss result for the period.
.27 The Company 's policy is to enter into foreign exchange contracts to hedge its exposure to fluctuations in exchange rates. From its purchase and sale commitments. The Company policy is not to trade in derivatives.
28 The Company s financial statements. ' Have been presented in accordance with the Ministerial Regulation No. 2 (B.E, 2519).Under the Announcement of the National Executive Council No. 285 dated 24 November B.E. 2515 and in conformity with generally. Accepted accounting principles practiced in Thailand.
29 The Company does not have its own solicitor for the Company s. ' Operation
30 The company did not need to prepare consolidation financial statement because it has been prepared by parent. Company.
.