Page 192 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

INDEPENDENT

AUDITORS’ REPORT
TO THE MEMBERS OF BANK MUAMALAT MALAYSIA BERHAD
(INCORPORATED IN MALAYSIA)

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 2023 of the Group and of the Bank, and the statements of profit or loss and 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 material accounting policy information as set out on pages
193 to 372.

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 2023, and of their financial performance and their cash flows for the year then ended in
accordance with Malaysian Financial Reporting Standards, IFRS Accounting Standards as issued by the International Accounting
Standards Board (IFRS Accounting 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 auditors’ report. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our 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 Ethics Standards Board for Accountants’
International Code of Ethics for Professional Accountants (including International 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 information included
in the Directors’ Report and Shariah Committee’s 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 Directors’ Report and Shariah
Committee’s Report 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
Directors’ Report and Shariah Committee’s Report and, in doing so, consider whether the Directors’ Report and Shariah
Committee’s Report 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 the Directors’ Report and Shariah Committee’s Report, we are required
to report that fact. We have nothing to report in this regard.

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