SEO Version
60
INDEPENDENT
AUDITOR’S REPORT
To the Unitholders of Macquarie MEAG Prime Real Estate Investment Trust
(a trust constituted on 8 August 2005 under the laws of the Republic of Singapore)
We have audited the accompanying financial statements of Macquarie MEAG Prime Real Estate Investment Trust
(the “Trust”) and its subsidiaries (collectively, the “Group”), which comprises the balance sheets of the Group and
the Trust, the investment properties portfolio statement of the Group as at 31 December 2007, the statements of
total return, distribution statements and statements of movements in net assets attributable to unitholders of the
Group and the Trust and the cash flow statement of the Group for the year then ended, summary of significant
accounting policies and the notes to the financial statements, as set out on pages 61 to 97.
The Manager’s and the Trustee’s responsibilities for the financial statements
The Manager and the Trustee of the Trust are responsible for the preparation and fair presentation of these financial
statements in accordance with the Statement of Recommended Accounting Practice 7 “Reporting Framework for
Unit Trusts” issued by the Institute of Certified Public Accountants of Singapore. This responsibility includes:
designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of
financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying
appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Auditor’s 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 on 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 controls relevant to the entity’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 entity’s internal controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Manager
and the Trustee, 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 financial statements present fairly, in all material respects, the financial position of the Group and
the Trust as at 31 December 2007, the total return, distributable income and movements in net assets attributable
to unitholders of the Group and the Trust, and the cash flows of the Group for the year then ended in accordance
with the Statement of Recommended Accounting Practice 7 “Reporting Framework for Unit Trusts” issued by the
Institute of Certified Public Accountants of Singapore.
Certified Public Accountants
Singapore
5 March 2008
Powered by FlippingBook Publisher