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ANNUAL REPORT
2016
• Evaluate the overall presentation, structure and content of the consolidated financial statements,
including the disclosures, and whether the consolidated financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or
business activities within the Group to express an opinion on the consolidated financial statements.
We are responsible for the direction, supervision and performance of the group audit. We remain
solely responsible for our audit opinion.
We communicate with Those Charged with Governance 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.
We also provideThose Charged with Governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our independence, and where applicable,
related safeguards.
From the matters communicated with Those Charged with Governance, we determine those matters
that were of most significance in the audit of the consolidated financial statements of the current year
and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or
regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we
determine that amatter should not be communicated in our report because the adverse consequences of
doing sowould reasonably be expected to outweigh the public interest benefits of such communication.
Report on Other Legal and Regulatory Requirements
Furthermore, in our opinion proper books of account have been kept by the Parent Company and the
consolidated financial statements, together with the contents of the report of the Parent Company’s
Board of Directors relating to these consolidated financial statements, are in accordance therewith.
We further report that, we obtained all the information and explanations that we required for the
purpose of our audit and that the consolidated financial statements incorporate all information that
is required by the Companies Law No.1 of 2016, and its executive regulations and by the Parent
Company’s Memorandum of Incorporation and Articles of Association, that an inventory was duly
carried out and that, to the best of our knowledge and belief, no violations of the Companies
Law No.1 of 2016 and its executive regulations nor of the Parent Company’s Memorandum of
Incorporation and Articles of Association have occurred during the year ended 31 December 2016
that might have had a material effect on the business of the Parent Company or on its financial
position.
WALEED A. AL OSAIMI
LICENCE NO. 68 A
EY
AL AIBAN, AL OSAIMI & PARTNERS
9 February 2017
Kuwait
DR. SAUD HAMAD AL-HUMAIDI
LICENSE NO. 51 A OF DR. SAUD
HAMAD AL-HUMAIDI & PARTNERS
MEMBER OF BAKER TILLY
INTERNATIONAL
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