42
Independent Auditor’s Report
Independent Auditor’s Report To the Shareholders of MK Restaurant Group Public Company Limited
Opinion I have audited the accompanying consolidated financial st atements of MK Restaurant Group Public Company Limited and its subsidiaries (“the Group”), which comprise the consolidated statement of financial position as at 31 December 2016, and the related consolidated statements of income, comprehensive income, changes in shareholders’ equity and cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies, and have also audited the separate financial statements of MK Restaurant Group Public Company Limited for the same period. In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of MK Restaurant Group Public Company Limited and its subsidiaries and of MK Restaurant Group Public Company Limited as at 31 December 2016, their financial performance and cash
flows for the year then ended in accordance with Thai Financial Reporting Standards.
Basis for Opinion I conducted my audit in accordance with Thai Standards on Auditing. My responsibilities under those standards are further de s c r i b e d i n t he Aud i t o r ’ s Responsibilities for the Audit of the Financial Statements section of my report. I am independent of the Company in accordance with the Code of Ethics for Professional Accountants as issued by the Federation of Accounting Professions under the Royal Patronage of His Majesty the King as relevant to my audit of the financial statements, and I have f u l fi l l e d m y o t h e r e t h i c a l responsibilities in accordance with the Code. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.
Key Audit Matters Key audit matters are those matters that, in my professional judgement, were of most significance in my audit of the financial statements of the current period. These matters were addressed in the context of my
audit of the financial statements as a whole, and in forming my opinion thereon, and I do not provide a separate opinion on these matters. I h a v e f u l fi l l e d t h e responsibilities described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of my report, including in re l a t io n t o t he s e ma t t e r s. Accordingly, my audit included the performance of procedures designed to respond to my assessment of the risks of material misstatement of the financial statements. The results of my audit procedures, including the procedures performed to address the matters below, provide the basis for my audit opinion on the accompanying financial statements as a whole. Key audit matters and how audit procedures respond for each matter are described below.
Revenue recognition Revenues from sales and services are the Group’s main accounting transactions that have significant volume of transactions and amounts, and directly affect profit or loss of the Group. The Group has numerous sales and services made by cash and credit