Page 28 - Nanyang Technological University

INDEPENDENT AUDITORS’ REPORT

TO THE BOARD OF TRUSTEES OF
NANYANG TECHNOLOGICAL UNIVERSITY

(cont’d)

Opinion
In our opinion, the consolidated financial statements of the Group and the statement of financial position and statement
of changes in funds and reserves of the University Company are properly drawn up in accordance with the provisions of
the Act, the Charities Act and Singapore Financial Reporting Standards so as to give a true and fair view of the financial
position of the Group and of the University Company as at 31 March 2016 and the financial performance, changes in
funds and reserves and cash flows of the Group and changes in funds and reserves of the University Company for the
year ended on that date.
Report on Other Legal and Regulatory Requirements
In our opinion, the accounting and other records required by the Act to be kept by the University Company and by those
subsidiary corporations incorporated in Singapore of which we are the auditors have been properly kept in accordance
with the provisions of the Act.
During the course of our audit, nothing has come to our attention that causes us to believe that during the year:
(a) The use of donation moneys was not in accordance with the objectives of the University Company as required

under regulation 11 of the Charities (Institutions of a Public Character) Regulations; and
(b) The University Company has not complied with the requirements of regulation 15 (Fund-raising expenses) of the

Charities (Institutions of a Public Character) Regulations.

Public Accountants and
Chartered Accountants
Singapore
3 August 2016

26 NTU ANNUAL REPORT 2016