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EXIM BANK MALAYSIA ANNUAL REPORT 2024

7 FINANCIAL STATEMENTS 109
INDEPENDENT AUDITORS’ REPORT
TO THE MEMBERS OF EXPORT-IMPORT BANK OF MALAYSIA BERHAD
(INCORPORATED IN MALAYSIA)

Information other than the financial statements and auditors’ report thereon

The directors of the Bank are responsible for the other information. The other information comprises the directors’ report and
the information included in the annual report, but does not include the financial statements of the Group and of the Bank and our
auditors’ report thereon.

Our opinion on the financial statements of the Group and of the Bank does not cover the other information and we do not express
any form of assurance conclusion thereon.

In connection with our audit of the financial statements of the Group and of the Bank, our responsibility is to read the other information
and, in doing so, consider whether the other information is materially inconsistent with the financial statements of the Group and of
the Bank or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed on the other information that we obtained prior to the date of this auditors’ report,
we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to
report in this regard on the directors’ report.

When we read the annual report, if we conclude that there is a material misstatement therein, we are required to communicate the
matter to the directors of the Bank and take appropriate action.

Responsibilities of the directors for the financial statements
The directors of the Bank are responsible for the preparation of the financial statements of the Group and of the Bank that give a true
and fair view in accordance with MFRS Accounting Standards, IFRS Accounting Standards and the requirements of the Companies
Act, 2016 in Malaysia. The directors are also responsible for such internal control as the directors determine is necessary to enable
the preparation of financial statements of the Group and of the Bank that are free from material misstatement, whether due to fraud
or error.

In preparing the financial statements of the Group and of the Bank, the directors are responsible for assessing the Group’s and
the Bank’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the directors either intend to liquidate the Group or the Bank or to cease operations, or have no
realistic alternative but to do so.
Auditors’ responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements of the Group and of the Bank as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with approved
standards on auditing in Malaysia and International Standards on Auditing will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing,
we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements of the Group and of the Bank, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than
for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s and of the Bank’s internal
control.