Page 122 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2019 年報

120 Independent auditor’s Report 獨立核數師報告書

Key audit matters (continued) 關鍵審計事項（續）
We have fulfilled the responsibilities described in the Auditor’s responsibilities 我們已經履行了本報告核數師就審計財務
for the audit of the financial statements section of our report, including in 報表承擔的責任 部分闡述的責任，包括與
relation to these matters. Accordingly, our audit included the performance 這些關鍵審計事項相關的責任。相應地，
of procedures designed to respond to our assessment of the risks of 我們的審計工作包括執行為應對評估的財
material misstatement of the financial statements. The results of our audit 務報表重大錯誤陳述風險而設計的審計程
procedures, including the procedures performed to address the matter 序。我們執行審計程序的結果，包括應對
below, provide the basis for our audit opinion on the accompanying 下述關鍵審計事項所執行的程序，為財務
financial statements. 報表整體發表審計意見提供了基礎。

impairment of investment properties 投資物業的減值
Included in the Housing Society’s investment properties are certain rental 房屋協會的投資物業包括政府授予的土地
estates and properties built on land granted by the government (the “Rental 上建造的若干出租屋邨及物業（「出租屋邨
Estates and Properties”). The aggregate net carrying value of the Rental 及物業」）。於二零一九年三月三十一日，
Estates and Properties was HK$5,545.0 million as at 31 March 2019 and they 出 租 屋 邨 及 物 業 之 賬 面 淨 值 總 額 為 港 幣
are carried at cost less subsequent accumulated depreciation and 五十五億四千五百萬元，並按成本減其後
impairment losses. 累計折舊及減值虧損列賬。

At the end of the reporting period, management performed an impairment 於報告期末，管理層進行減值評估。其可
assessment on the Rental Estates and Properties. Their recoverable amounts 收回金額根據使用價值計算釐定。出租屋
were estimated based on value-in-use calculation. The impairment 邨及物業的減值評估對我們的審計非常重
assessment of the Rental Estates and Properties is significant to our audit 要，由於根據管理層批准的財務預算釐定
due to the significant judgements and estimates involved in the 有關現金流量預測的使用價值計算所涉及
determination of the value-in-use calculation with respect to the cash flow 的重大判斷及估計。本年度，已就出租屋
projection based on the financial budget approved by management. 邨及物業的已落成物業確認減值回撥港幣
Reversal of impairment loss of HK$24.0 million was recognised for the 二千四百萬元。
completed properties of the Rental Estates and Properties during the year.

Disclosures in relation to the investment properties are included in notes 相關披露已包括在財務報表附註二點四，
2.4, 3 and 12 to the financial statements. 三及十二。

How our audit addressed the key audit matter 該事項在我們審計中是如何應對的
In evaluating management’s impairment assessment, we involved our 在評估管理層的減值評估時，我們邀請我
valuation specialists to assist us in evaluating the valuation methodology 們的估值專家協助我們評估由房屋協會管
and key parameters, including the discount rate, prepared by management 理層編製的估值方法和關鍵參數，包括折
of the Housing Society. Our procedures also included assessment of the key 現率。我們的程序亦包括根據我們對房屋
assumptions such as the budgeted rental price, growth rate and estimated 協會業務及發展計劃的認識評估主要假設，
construction costs to complete based on our knowledge of the business 例如預算租金，增長率及估計建築成本。
and development plan of the Housing Society.

We also assessed the adequacy of the related disclosures in the notes to the 我們也評估了財務報表附註中相關披露的
financial statements. 充分性。

Hong Kong Housing Society Annual Report 2018/19