Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
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72<br />
INDEPENDENT AUDITORS’ REPORT<br />
To the members of <strong>Mandarin</strong> <strong>Oriental</strong> <strong>International</strong> <strong>Limited</strong><br />
We have audited the accompanying consolidated balance sheet of <strong>Mandarin</strong> <strong>Oriental</strong> <strong>International</strong> <strong>Limited</strong> and<br />
its subsidiaries (‘the Group’) as at 31st December 2005, and the related consolidated profit and loss account, cash<br />
flows, statement of recognized income and expense and related notes for the year then ended.These financial<br />
statements are the responsibility of the Company’s Directors. Our responsibility is to express an opinion on these<br />
financial statements based on our audit.This report, including the opinion, has been prepared for and only for the<br />
Company’s members as a body in accordance with section 90 of the Bermuda Companies Act and for no other<br />
purpose.We do not, in giving this opinion, accept or assume responsibility for any other purpose or to any other<br />
person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior<br />
consent in writing.<br />
We conducted our audit in accordance with <strong>International</strong> Standards on Auditing.Those Standards require that we<br />
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material<br />
misstatement.An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the<br />
financial statements.An audit also includes assessing the accounting principles used and significant estimates made<br />
by management, as well as evaluating the overall financial statement presentation.We believe that our audit provides<br />
a reasonable basis for our opinion.<br />
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the<br />
financial position of the Group as at 31st December 2005, and the results of its operations and its cash flows for the<br />
year then ended in accordance with <strong>International</strong> Financial Reporting Standards and comply with the Bermuda<br />
Companies Act.<br />
PricewaterhouseCoopers LLP<br />
London<br />
United Kingdom<br />
23rd February 2006<br />
MANDARIN ORIENTAL INTERNATIONAL LIMITED