Page 198 - BTSGroup ONE REPORT 2021/22_EN

196 l Introduction l Nature of Business l Organisation and Shareholding Structure l Business Review l Corporate Governance l Financial Statements l Other Information l

the Group has not received the payment in full amount of debts under the I have fulfilled the responsibilities described in the Auditor’s Responsibilities
Operating and Maintenance and the purchase and installation of operating for the Audit of the Financial Statements section of my report, including in
system (electric and mechanic) from Krungthep Thanakom. From January to relation to these matters. Accordingly, my audit included the performance of
April 2021, the Group submitted letters to notify the outstanding balances procedures designed to respond to my assessment of the risks of material
and to request Krungthep Thanakom to make full payment. Subsequently, on misstatement of the financial statements. The results of my audit procedures,
15 July 2021, the Group filed a lawsuit with the Administrative court against including the procedures performed to address the matters below, provide
the BMA and Krungthep Thanakom for have them settle all debt until date the basis for my audit opinion on the accompanying financial statements as
15 July 2021 under the Operating and Maintenance agreements for the a whole.
Extension Line Phase No.1, amounting to Baht 2,731 million (consisting of
principal and interest), and for the Extension Line Phase No.2, amounting Key audit matters and how audit procedures respond to each matter are
to Baht 9,406 million (consisting of principal and interest). Subsequently, described below.
on 18 August 2021, the Central Administrative Court accepted the motion,
and the defendants submitted statement in March and April 2022, with the Service concession arrangements
Group submitting responses to the defendants’ statements in May 2022.
The case is not yet concluded and is currently under the consideration of The Group has agreements relating to the operation of an elevated train
the Central Administrative Court. service for the public, including the design and construction of civil works,
the procurement of electronic and mechanical systems and related equipment
and the provision of operation and maintenance services. During the year, the
b) Note 16.1.5 to the financial statements regarding the acquisition of Group had revenues relating to these agreements, consisting of revenues from
investment in associate (Jay Mart Public Company Limited) during the period. provision of operating services, revenues from construction and installation
The Group (buyer) is currently in process of measuring the fair value at the services and train procurement services and related interest income. As at 31
acquisition date of the identifiable assets acquired and liabilities assumed.
March 2022, the outstanding amount including receivable under agreements
with government authority, receivables due in the future under agreements
c) Note 53 to the financial statements regarding approval of entering into with government authorities, receivable under the purchase and installation of
License to Manage and Operate Merchandising Space Agreement and operating system agreement and elevated train project costs as discussed in
related transactions. Note 10, 11 and 17 to the financial statements. The values of these transactions
are significant to the financial statements. The management also had to
My opinion is not modified in respect of these matters. exercise significant judgement with respect to analysis of the contents of the

agreements and the recording of the accounting transactions in accordance
Key Audit Matters with the scope of Thai Financial Reporting Standard Interpretations 12 Service
Key audit matters are those matters that, in my professional judgement, were Concession Arrangements, including the process of measurement and the
of most significance in my audit of the financial statements of the current determination of appropriate timing of recognition of revenues and considering
period. These matters were addressed in the context of my audit of the allowance for impairment of relating financial assets.
financial statements as a whole, and in forming my opinion thereon, and I do
not provide a separate opinion on these matters.