Page 15 -
P. 15

Corporate Governance Report





             DIRECTORS’ AND AUDITOR’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS


             The directors acknowledge their responsibility for the preparation of the financial statements of the Group.
             In  preparing  the  financial  statements,  the  Hong  Kong  Financial  Reporting  Standards  have  been  adopted,
             appropriate  accounting  policies  have  been  used  and  applied  consistently,  and  reasonable  and  prudent
             judgements  and  estimates  have  been  made.  The  Board  is  not  aware  of  any  material  uncertainties  relating
             to  events  or  conditions  which  may  cast  significant  doubt  over  the  Group’s  ability  to  continue  as  a  going
             concern. Accordingly, the Board has continued to adopt the going concern basis in preparing the financial
             statements.


             The auditor’s responsibilities are set out in the Independent Auditor’s Report.

             AUDITOR’S REMUNERATION

             For  the  year  ended  31st  March  2015,  the  remuneration  paid  to  the  Company’s  auditor,
             PricewaterhouseCoopers, is set out as follows:


             Services rendered                                                            Fees paid/payable
                                                                                                   HK$’000
             Audit-related services                                                                   2,090
             Non audit-related services
               Tax compliance services                                                                 193

             DIRECTOR’S TRAINING

             During  the  year  under  review,  all  directors  have  participated  in  professional  training  relevant  to  business
             developments and regulatory updates. All directors have provided the Company with their records of training
             which they received during the financial year.

             INTERNAL CONTROL


             The  Board  is  responsible  for  the  internal  control  system  of  the  Group.  The  Board  requires  management
             to  establish  and  maintain  sound  and  effective  internal  controls,  which  cover  all  material  controls,  including
             financial, operational and compliance and risk management functions. The Board and the audit committee
             are  of  the  view  that  the  resources,  qualifications  and  experience  of  staff  of  the  Group’s  internal  audit  and
             accounting functions are adequate.



















                                                                      ALCO HOLDINGS LIMITED  ANNUAL REPORT 2015  13
   10   11   12   13   14   15   16   17   18   19   20