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Annual Report 2016
二零一六年年報
75
Report of the Auditors
核數師報告書
Assessment of impairment of available-for-sale debt securities
可供出售債務證券的減值評估
Refer to Note 18 to the consolidated financial statements and the
accounting policies on pages 94 to 95.
請參閱綜合財務報表附註
18
及於第
94
頁至第
95
頁的會計政策。
The Key Audit Matter
關鍵審計事項
How the matter was addressed in our audit
我們的審計如何處理該事項
The Group invests in corporate bonds to earn interest income as
part of the Group’s cash management strategy, which is governed
by the investment guidelines approved by the investment committee
of the Group.
As at 31 December 2016, the Group held a portfolio of available-
for-sale (“AFS”) debt securities with a fair value of HK$407 million.
The Group recognises impairment for AFS debt securities in the
consolidated statement of profit or loss when there is objective
evidence of impairment, which includes when there has been a
significant or prolonged decline in the fair value of an investment.
The impairment recognised in the consolidated statement of
profit or loss is the cumulative difference between cost (less any
impairment previously recognised) and fair value.
We identified the assessment of impairment of AFS debt securities
a key audit matter because of the significance of AFS debt
securities to the Group’s total assets and because the determination
of whether there is objective evidence of impairment involves
significant management judgement and is subject to potential
management bias.
Our audit procedures to assess the valuation of available-for-sale
debt securities included the following:
• comparing the fair values of all AFS debt securities as at
31 December 2016 with external third party sources and
recalculating the cumulative fair value gain or loss; and
• discussing with management whether there was any objective
evidence of impairment of individual AFS debt securities as at
31 December 2016 and critically challenging management’s
assertions and conclusions by considering whether there was
any objective evidence of impairment of individual AFS debt
securities for which there was a cumulative fair value loss as at
31 December 2016 through analysing the recent movements
of debt securities prices in the market based on external third
party sources and assessing if any other possible impairment
triggering events had occurred which may have led to
impairment of AFS debt securities held by the Group as at 31
December 2016.
貴集團投資企業債券以賺取利息收入，作為貴集團現金管理策略的一
部分，該策略受貴集團投資委員會批准的投資指引所規管。
於二零一六年十二月三十一日，貴集團持有可供出售（「可供出售」）組
合債務證券，其公允價值為港幣
407,000,000
元。
在存在減值的客觀證據時，貴集團在綜合損益表中確認可供出售債務
證券的減值，其包括當投資的公允價值發生顯著或長期下降。在綜合
損益表中確認的減值是成本（減先前確認的任何減值）與公允價值之間
的累計差額。
我們已識別可供出售債務證券的減值評估為關鍵審計事項，因為可供
出售債務證券對貴集團總資產的重要性，並且由於確定是否存在減值
的客觀證據時涉及管理層的重大判斷，並受到潛在管理偏倚所影響。
我們用於評估可供出售債務證券的估值的審計程序包括：
•
將於二零一六年十二月三十一日的所有可供出售債務證券的公允
價值與外部第三方來源進行比較，並重新計算累計公允價值盈
虧；及
•
與管理層討論截至二零一六年十二月三十一日是否有客觀證據顯
示有個別可供出售債務證券存在任何減值的跡象，並基於外部第
三方來源，評估是否發生任何其他可能觸發減值的事件，並可能
導致貴集團截至二零一六年十二月三十一日持有的個別可供出售
債務證券減值，並通過分析近期債務證券價格在市場上的變動情
況，評價管理層的主張及結論，以考慮是否有任何客觀證據表明
截至二零一六年十二月三十一日存在累計公允價值損失的個別可
供出售債務證券是否減值。
Key audit matters (continued)
關鍵審計事項（續）