Page 63 - 凱基證券 年報

English Translation of a Report Originally Issued in Chinese
Report of Independent Auditors
The Board of Directors
KGI Securities Co., Ltd.
We have audited the accompanying non-consolidated balance sheets of KGI Securities Co. Ltd. (the Company) as of December 31,
2010 and 2009, and the related non-consolidated statements of income, changes in shareholders' equity and cash flows for the
years then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express
an opinion on these financial statements based on our audits. We did not audit the financial statements of an investee company,
which statements in total reflect NT 334,540 thousand dollars and NT 346,330 thousand dollars of long-term equity investments
using the equity method as of December 31, 2010 and 2009, respectively; and NT 11,790 thousand dollars and NT 26,542
thousand dollars of investment loss for the years then ended. Those statements were audited by other auditors whose report has
been furnished to us, and our opinion, insofar as it relates to the investments in that company, is based solely on the report of the
other auditors.
We conducted our audits in accordance with “Rules Governing Auditing and Certification of Financial Statements by Certified
Public Accountants” and auditing standards generally accepted in the Republic of China ( “ROC” ). Those standards require
that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material
misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statements presentation. We believe that our audits and the report of other auditors provide
a reasonable basis for our opinion.
In our opinion, based on our audits and the report of other auditors, the financial statements referred to above present fairly, in
all material respects, the non-consolidated financial position of KGI Securities Co. Ltd. as of December 31, 2010 and 2009, and
the non-consolidated results of its operations and its cash flows for the years then ended, in conformity with the requirements
of the “ Business Entity Accounting Act ” and “Regulation on Business Entity Accounting Handling” with respect to financial
accounting standard, “Regulations Governing the Preparation of Financial Reports by Securities Firms ”, “Regulations Governing
the Preparation of Financial Reports by Futures Commission Merchants” and accounting principles generally accepted in ROC.
As described in Note I, on December 19, 2009, the Company acquired and merged Taishin Securities Co., Ltd. as the surviving
entity and assumed all the assets, liabilities, rights and obligations of Taishin Securities Co., Ltd.
In addition, we have also audited the consolidated financial statements of the Company as of and for the years ended December
31, 2010 and 2009, under separate cover, on which we have issued a modified unqualified opinion thereon.
Ernst & Young
Taipei, Taiwan
Republic of China
April 11, 2011
Notice to Readers
The accompanying financial statements are intended only to present the financial position and results of operations and cash flows
in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other
jurisdictions. The standards, procedures and practices to audit such financial statements are those generally accepted and applied
in the Republic of China.
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