Annual Report 2019

117 年報 ANNUAL REPORT 2019 INDEPENDENT AUDITOR’S REPORT 獨立核數師報告 Key Audit Matter How our audit addressed the Key Audit Matter 關鍵審計事項 我們的審計如何處理關鍵審計事項 Management grouped the assets of the Group at the lowest levels for which there are separately identifiable cash inflows that are largely independent of the cash inflows from other assets or groups of assets (Cash-generating Units) and performed impairment assessments in respect of the two Cash-generating Units of the steel cord segment identified using the value-in-use method. This involved significant judgement in determining the assumptions used in the calculations. The key assumptions included: 管理層將 貴集團的資產分為最低水準，其可單獨識別 現金流入，而這些資產大部分獨立於其他資產或資產組 的現金流入（現金產生單位）。管理層還分別運用使用 價值法對鋼簾線分部的兩個現金產生單位實施了減值 測試。其中設計在確定運算中使用的假設時的重大判 斷。決定關鍵假設包括： • rate of annual increment for the steel cord price; and 鋼簾線價格的年增長率；及 • discount rates 貼現率 Ba s e d o n ma n a g eme n t ’ s a s s e s sme n t , n o impairment on property, plant and equipment, and land use rights was considered necessary as at 31 December 2019. 根據管理層的評估，於二零一九年十二月三十一日並無 就物業、廠房及設備與土地使用權確認減值。 We focused on this area due to the significance of the balances and the significant judgements involved in the assessment of the recoverable amount of the Cash-generating Units of the steel cord segment including the assumptions used in the calculations of value-in-use. 我們關注該範圍是因為結餘的重要性以及評估現金產 生單位可回收金額所涉及的重大判斷（包括計算使用 價值時所用的假設）。 We evaluated the reasonableness of management’s key assumptions made in the forecasts. For steel cord price, we compared the long-term steel cord price used in the forecasts against the market price, and benchmarked the rate of annual increment to industry forecasts and market trends. For the discount rates, we benchmarked the rates used in the forecasts against our research of the discount rates used by comparable companies in the industry. 我們評估了管理層在預測中的關鍵假設的合理性。對 於鋼簾線價格，我們將預測中使用的長期鋼簾線價格 與市場價格進行了比較，並將年增長率與行業預測和 市場趨勢作為基準。對於貼現率，我們以預測中使用的 貼現率為基準檢測我們對比行業中可比公司的研究中 使用的貼現率。 We compared the current year actual results with the amounts included in the prior year cash flow forecasts to consider the quality of management’s forecasting, and where any deviations were noted, we corroborated management’s explanations with our knowledge of the market and the Group’s performance in the current year. We also checked that these relevant factors had been taken into account in this year’s forecasts and that management had considered the current year actual results in the preparation of this year’s forecasts. 我們將本年度實際結果與上一年度現金流量預測中包 含的金額進行了比較，以考慮管理層的預測質量。我 們詢問管理層瞭解本年度實際業績與上年度預測出現 偏差的原因，證實管理層對我們對市場的瞭解及 貴 集團於本年度的表現有何解釋。我們還檢查了今年的 預測中是否考慮了這些相關因素。我們亦檢查了管理 層是否考慮了本年度的實際結果用以準備本年度的預 測。 Based on the procedures performed, we found management’s significant judgements made in the impairment assessment of property, plant and equipment and land use rights to be supportable based on the available evidence. 根據所執行的程式，我們發現管理層在物業、廠房及設 備與土地使用權的減值評估中使用的關鍵判斷可根據 現有證據予以支持。