Page 128 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2018 年報

INDEPENDENT AUDITOR’S REPORT 獨立核數師報告書

Key audit matters 關鍵審計事項

Key audit matters are those matters that, in our professional judgement, ᗫᒟᄲࠇԫධ݊࣬ኽҢࡁٙਖ਼ุкᓙdႩ
were of most significance in our audit of the financial statements of the މ࿁͉ಂৌਕజڌٙᄲࠇ௰މࠠࠅٙԫධf
current period. These matters were addressed in the context of our audit of வԬԫධ݊ί࿁ৌਕజڌ዆᜗ආБᄲࠇԨ
the financial statements as a whole, and in forming our opinion thereon, ҖϓจԈٙߠ౻ɨආБஈଣٙdҢࡁʔ࿁
and we do not provide a separate opinion on these matters. For the matter வԬԫධ౤ԶఊዹٙจԈfҢࡁ࿁ɨࠑӊ
below, our description of how our audit addressed the matter is provided ɓԫධίᄲࠇʕ݊νОᏐ࿁ٙ౜ࠑɰ˸Ϥ
in that context. މߠ౻f

We have fulfilled the responsibilities described in the Auditor’s responsibilities Ңࡁʊ຾ᄵБə͉జѓࣨᅰࢪఱᄲࠇৌਕ
for the audit of the financial statements section of our report, including in జڌוዄٙப΂ ௅ʱᙕࠑٙப΂dܼ̍ၾ
relation to these matters. Accordingly, our audit included the performance வԬᗫᒟᄲࠇԫධ޴ᗫٙப΂f޴Ꮠήd
of procedures designed to respond to our assessment of the risks of ҢࡁٙᄲࠇʈЪܼ̍ੂБމᏐ࿁൙Пٙৌ
material misstatement of the financial statements. The results of our audit ਕజڌࠠɽ፹Ⴌ௓ࠑࠬᎈϾணࠇٙᄲࠇ೻
procedures, including the procedures performed to address the matter ҏfҢࡁੂБᄲࠇ೻ҏٙഐ؈dܼ̍Ꮠ࿁
below, provide the basis for our audit opinion on the accompanying ɨࠑᗫᒟᄲࠇԫධהੂБٙ೻ҏdމৌਕ
financial statements. జڌ዆᜗೯ڌᄲࠇจԈ౤Զəਿᓾf
Impairment of investment properties 投資物業的減࠽

Included in the Housing Society’s investment properties are certain rental ג܊՘ึٙҳ༟يִุܼ̍݁બʚٙɺή
estates and properties built on land granted by the government (the “Rental ɪܔிٙ߰ʍ̈ॡ܊㡼ʿيุ€˜̈ॡ܊㡼
Estates and Properties”). The aggregate net carrying value of the Rental ʿيุ™f׵ɚཧɓɞϋɧ˜ɧɤɓ˚d
Estates and Properties was HK$5,667.3 million as at 31 March 2018 and they ̈ॡ܊㡼ʿيุʘሪࠦଋ࠽ᐼᕘމಥ࿆
are carried at cost less subsequent accumulated depreciation and ʞɤʬᄂʬɷɖϵɧɤຬʩdԨܲϓ͉ಯ
impairment losses. Չܝଢ଼ࠇұᔚʿಯ࠽ᑦฦΐሪf

At the end of the reporting period, management determined that an ׵జѓಂ͋d၍ଣᄴᆽ֛πί̈ॡ܊㡼ʿ
indicator of impairment on the Rental Estates and Properties existed and يุٙಯ࠽༦൥ԨආБಯ࠽൙ПfՉ̙ϗ
performed an impairment assessment. Their recoverable amounts were Ϋږᕘ࣬ኽԴ͜ᄆ࠽ࠇၑᔾ֛f̈ॡ܊㡼
estimated based on value-in-use calculation. The impairment assessment of ʿيุٙಯ࠽൙П࿁Ңࡁٙᄲࠇڢ੬ࠠࠅd
the Rental Estates and Properties is significant to our audit due to the ͟׵࣬ኽ၍ଣᄴҭࡘٙৌਕཫၑᔾ֛Ϟᗫ
significant judgements and estimates involved in the determination of the ତږݴඎཫ಻ٙԴ͜ᄆ࠽ࠇၑהऒʿٙࠠ
value-in-use calculation with respect to the cash flow projection based on ɽкᓙʿПࠇf
the financial budget approved by management.

Disclosures in relation to the investment properties are included in notes ޴ᗫמᚣʊܼ̍ίৌਕజڌڝൗɚᓃ̬d
2.4, 3 and 12 to the financial statements. ɧʿɤɚf

126 Hong Kong Housing Society Annual Report 2017/18