You are on page 1of 3

Independent Auditor’s Report

Stockholders and the Board of Directors

Einor Prime Holdings Corporation
Daebak Building, New Bataan Aveneu,
Davao De Oro, Philippines


In our opinion the information given in the director’s report for the financial year for
which the Entity’s financial statements are present fairly, in all material respect. It give
a true and fair view of the state of the Entity’s affairs as of the 31st of December 2011
and of its loss and cash flows for the year then ended.

Basis for Opinion

Our audit involves obtaining evidence about the amounts and disclosures in the
financial statement sufficient to give reasonable assurance that the financial
statements are free from material misstatement, whether caused by fraud or error.
This includes an assessment of whether the accounting policies are appropriate to the
Entity’s circumstances and have been consistently applied and adequately disclosed;
and the overall presentation of the financial statements. In addition, we read all the
financial and non-financial information in the director’s report to identify material
inconsistence with the audited financial statements.

Emphasis of Matter

Without qualifying our opinion we draw attention to the special purpose framework that
the Entity is using. Since it is prescribed by law and regulation the financial statements
is fairly presented in all matter. Without qualifying our opinion we also draw attention
to applicable financial reporting framework, including circumstances where the auditor
determines that the financial reporting framework prescribed by law or regulation
would otherwise be unacceptable.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the consolidated financial statements of the current period.
Our audit included performing procedures designed to address the risks of material
misstatement associated with these matters. Such procedures were designed in the
context of our audit of the consolidated financial statements as a whole, and in forming
our opinion thereon, but do not provide a basis for a separate opinion on these
individual matters. We have determined the matters described below to be the key
audit matters to be communicated in our report.

Information Other than the Consolidated Financial Statements and Auditor’s Report
Thereon The other information obtained at the date of this auditor’s report is the
information included in the director’s report, 3 other than the financial statements and
the auditor’s report thereon. We have not audited the other information and do not
express an opinion or any form of assurance conclusion thereon.
Our responsibility is to read this other information and to consider whether there is a
material inconsistency between that information and the consolidated financial
statements, or our knowledge obtained during the course of the audit. In reading the
other information, our responsibility is also to remain alert for other indications that the
other information appears to be materially misstated. If we determine that the other
information is materially misstated, we are required to report that fact. We have
nothing to report in this regard.

Responsibilities of Management and Directors for the Financial Statements

Management is responsible for the preparation of the financial statements and for
being satisfied that they give true and fair view. Management responsibility also
includes the design, implementation, and maintenance of internal control relevant to
the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error.

Auditor’s Responsibilities for the Audit of Financial Statements

Our responsibility is to express an opinion on these financial statements based on our

audit. We conducted our audit in accordance with auditing standards generally
accepted in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts
and disclosures in the financial statements. The procedures selected depend on the
auditors’ judgment, including the assessment of the risks of material misstatement of
the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity's preparation
and fair presentation of the financial statements 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 entity's internal control. Accordingly, we express no
such opinion. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial

We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.
Reports on the Supplementary Information Required by the Bureau of Internal

Our review might have been directed for the reason for shaping an idea on the
fundamental fiscal explanations taken in general. Those supplementary data with
respect to taxes, obligations also permit fees. On note will fiscal explanations may be
introduced for purposes about documenting with the department for inside income.
Furthermore may be not an obliged and only the essential fiscal explanations. Such
majority of the data will be those obligation of the oversaw economy of entity. Those
majority of the data need been subjected of the auditing methods connected to our
review of the essential fiscal explanations and, On our opinion, will be reasonably
stated. On the whole material regards over connection to the essential fiscal
explanations in general.

Olarte, Alberca & Associates

BOA Registration No. 0002, Valid for September 2, 2016 to December 31, 2018
SEC Accreditation No. 020-RO-8, issued on January 1, 2017 until December 9, 2019
IC Accreditation No. A-2012-002-R, issued on May 5, 2017; effective until May 31,
Tax Identification No. 689-064-323


Ronie Alberca Olarte, CPA

CPA Certificate No. 387622
Tax Identification No. 499-062-333
PTR No. 2278876

Davao De Oro, Philippines

August 11, 2018