Annual Report 2019

INDEPENDENT AUDITOR’S REPORT 獨立核數師報告 HOP FUNG GROUP HOLDINGS LIMITED 合豐集團控股有限公司 68 How our audit addressed the key audit matter 本核數師行在審核過程中如何處理關鍵審核事項 Our procedures in relation to the impairment assessment on property, plant and equipment relating to the containerboard segment included: • Obtaining an understanding of the management’s process and basis adopted in preparing the cash flow forecast, including significant assumptions; • Challenging the key assumptions adopted by the management, including growth rates and gross margin, by referring to the industry information and the management’s budget; • Evaluating the reasonableness of the cash flow forecast by comparing against historical performance and discussing with the management on revenue growth strategies and cost initiatives in respect of the cash generating units; • Engaging our valuation specialists to evaluate the appropriateness of the key assumptions used in the impairment assessment, in particular the discount rate; and • Performing sensitivity analysis in respect of the growth rate, gross margin and discount rate to assess the extent of impact on the calculation of the value-in-use. 本核數師行就與箱板紙分部有關的物業、廠房及設 備作出的減值評估程序包括： • 了解管理層就編製現金流量預測所採用的流程 及基礎，包括重大假設； • 參考行業資料及管理層預算對管理層採納的關 鍵假設（包括增長率及毛利率）提出質疑； • 通過對比過往表現及與管理層討論與現金產生 單位有關的收入增長策略及成本措施，評估現 金流量預測的合理性； • 委派估值專家評估減值評估所採用的關鍵假設 （尤其是折讓率）的適當性；及 • 進行與增長率、毛利率及貼現率有關的敏感度 分析，以評估該等因素對使用價值計算的影響 程度。 KEY AUDIT MATTERS (Continued) 關鍵審核事項 （續）