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Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements of the Company as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is
a high level of assurance, but is not a guarantee that an audit conducted in accordance with approved standards on auditing in Malaysia
and International Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud
or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing, we exercise
professional judgement and maintain professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements of the Company, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide
a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures
made by the directors.
• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's
ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditors' report to the related disclosures in the financial statements of the Company or, if such disclosures are inadequate, to modify
our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events
or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation. structure and content of the financial statements of the Company, including the disclosures, and
whether the financial statements of the Company represent the underlying transactions and events in a manner that achieves fair
presentation.
We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit
findings, including any significant deficiencies in internal control that we identify during our audit.
Other matters
This report is made solely to the members of the Company, as a body, in accordance with Section 266 of the Companies Act, 2016 and for
no other purpose. We do not assume responsibility to any other person for the content of this report.
Ernst & Young
Ong CheeWai
AF: 0039
No. 2857/07/18(J)
Chartered Accountants
Chartered Accountant
Kuala Lumpur, Malaysia
16 April 2018
Ernst & Young
Datuk Kamarudin bin Meranun
Tan Sri Dr Anthony Francis Fernandes
Ong Chee Wai
Ernst & Young
Ong Chee Wai
[ ]
AirAsia Group Berhad
REPORTS AND FINANCIAL STATEMENTS
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