KLW auditors make qualified opinion over fiscal statement

KLW Holdings said on Thursday its independent auditor has included a qualified opinion and an emphasis of matters over the audited financial statements of the group for the financial year ended March 31, 2017.

The auditor said, among other things, it was unable to verify the "quantities of work-in-progress and finished goods" totalling S$2.91 million that were held by a subsidiary as at March 31, 2015. This was because they were not given access to the audit work papers of the predecessor auditors.