Page 168 - Bank-Muamalat-AR2020

166 BANK MUAMALAT MALAYSIA BERHAD About Us Our Leadership Our Strategy
ANNUAL REPORT FY2020

Independent AudItors’ report

to tHe MeMBers oF BAnK MuAMALAt MALAYsIA BerHAd

rEPOrT ON ThE AuDIT OF ThE FINANCIAL STATEMENTS
Opinion

We have audited the financial statements of Bank Muamalat Malaysia Berhad which comprise the statements of financial position as
at 31 December 2020 of the Group and of the Bank, and the statements of profit or loss, statements of other comprehensive income,
statements of changes in equity and statements of cash flows of the Group and of the Bank for the year then ended, and notes to the
financial statements, including a summary of significant accounting policies, as set out on pages 169 to 346.
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Group and of the
Bank as at 31 December 2020, and of their financial performance and their cash flows for the year then ended in accordance with
Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act
2016 in Malaysia.

Basis for opinion
We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing.
Our Responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial
statements section of our report. We believe that the audit evidence we have obtained is suffient and appropriate to provide a basis
for our audit opinion.

Independence and other ethical responsibilities
We are independent of the Group and of the Bank in accordance with the By-Laws (on Professional Ethics, Conduct and Practice)
of the Malaysian Institute of Accountants (“By Laws”) and the International Code of Ethics for Professional Accountants (including
Internatinal Independence Standards) (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the
By-Laws and the IESBA Code.

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 Annual Report, but does not include the financial statements of the Group and of the Bank and our auditors’ report thereon.
The Annual Report is expected to be made available to us after the date of this auditors’ report.

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, 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 the there is material misstatement therein, we are required to communicate the
matter to the directors of the Bank and take appropriate action.