Page 197 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 6.2 Independent Auditor’s Report 195
Annual Report 2021/22

6.2 INDEPENDENT AUDITOR’S REPORT

To the Shareholders of BTS Group Holdings Public Company Limited Emphasis of Matters

Opinion I draw attention to the following matters:
I have audited the accompanying consolidated financial statements of BTS
Group Holdings Public Company Limited and its subsidiaries (the Group), which a) Note 10.1 to the financial statements, the Group is engaged in the
comprise the consolidated statement of financial position as at 31 March 2022, provision of operation, maintenance and train procurement services under
and the related consolidated statements of comprehensive income, changes the Operating and Maintenance agreements for the extension line - Silom
in shareholders’ equity and cash flows for the year then ended, and notes and Sukhumvit (“Extension Line Phase No.1”) and for the Green Line
to the consolidated financial statements, including a summary of significant (Mochit-Sapanmai-Kukot and Bearing-Samutprakan) (“Extension Line Phase
accounting policies, and have also audited the separate financial statements No.2”), and the purchase and installation of operating system (electric and
of BTS Group Holdings Public Company Limited for the same period. mechanic) agreement for the Extension Line Phase No.2. Between 2017
and 2020, the Extension Line Phase No.2 gradually commenced operation.
In my opinion, the financial statements referred to above present fairly, in all Meanwhile, the National Council for Peace and Order issued order No.
material respects, the financial position of BTS Group Holdings Public Company 3/2019 regarding the operation of the Green Line, to require the Ministry
Limited and its subsidiaries and of BTS Group Holdings Public Company of Interior to set up a committee to establish criteria for sharing train-fare
Limited as at 31 March 2022, their financial performance and cash flows for benefits and other criteria for a combination of the Green Line and its
the year then ended in accordance with Thai Financial Reporting Standards. extensions. The committee is to negotiate the criteria with the Group within
the period stipulated in the order. Currently, the Group has prepared a
Basis for Opinion draft amendment of the concession agreement for the operation of Green
Line, whereby the Group will be responsible for specified obligations and
I conducted my audit in accordance with Thai Standards on Auditing. My bear the long-term operating risk in exchange of claiming outstanding
responsibilities under those standards are further described in the Auditor’s debts from the government authority. The negotiation was completed in
Responsibilities for the Audit of the Financial Statements section of my report. July 2019 and approval is being sought from the Cabinet, in accordance
I am independent of the Group in accordance with the Code of Ethics for with the procedures set out in the order.
Professional Accountants as issued by the Federation of Accounting Professions
as relevant to my audit of the financial statements, and I have fulfilled my
other ethical responsibilities in accordance with the Code. I believe that the Krungthep Thanakom Company Limited (“Krungthep Thanakom”) which is
audit evidence I have obtained is sufficient and appropriate to provide a basis an enterprise of the Bangkok Metropolitan Administration (“BMA”) is still
for my opinion. waiting for a conclusion from the Cabinet regarding approval of the draft
amendment of the concession agreement for the operation of Green Line,