Page 227 - E-BOOK

Independent Auditor's Report
To the Shareholders of Bangkok Commercial Asset Management Public Company Limited

I have audited the accompanying financial statements of Bangkok Commercial Asset Management Public Company
Limited (“the Company”), which comprise the statement of financial position as at 31 December 2020, and the related
statements of comprehensive income, changes in equity and cash flows for the year then ended, and notes to the
financial statements, including a summary of significant accounting policies.
In my opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of Bangkok Commercial Asset Management Public Company Limited as at 31 December 2020, and its financial
performance and cash flows for the year then ended in accordance with Thai Financial Reporting Standards.

Basis for Opinion
I conducted my audit in accordance with Thai Standards on Auditing. My responsibilities under those standards
are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of my report.
I am independent of the Company in accordance with the Code of Ethics for Professional Accountants as issued by
the Federation of Accounting Professions as relevant to my audit of the financial statements, and I have fulfilled my
other ethical responsibilities in accordance with the Code. I believe that the audit evidence I have obtained is sufficient
and appropriate to provide a basis for my opinion.

Emphasis of Matters 225
I draw attention to the following matters:
(1) Note 6 to the financial statements regarding the restatement of the prior year financial statements due
to the recognition of deferred tax assets. The Company has restated the statement of financial position
as at 31 December 2019, and the statements of comprehensive
income and changes in equity for the year then ended, presented as comparative information, in order
to reflect the related adjustment. Bangkok Commercial Asset Management Public Co., Ltd.
(2) Note 3.1 to the financial statements regarding the adoption of related the set of financial
reporting standards related to financial instruments adopted for the preparation of the current year
financial statements
(3) Note 1.2 to the financial statements regarding the COVID-19 pandemic which is impacting various
business and industries both directly and indirectly and resulting. This situation could create
uncertainties and may be affect the Company’s business activities in terms of the receivables’ ability
to make payment. This may impact the Company’s operating results and cash flows in the future.
My conclusion is not modified in respect of these matters.

Key Audit Matters
Key audit matters are those matters that, in my professional judgement, were of most significance in my audit
of the financial statements of the current period. These matters were addressed in the context of my audit of the
financial statements as a whole, and in forming my opinion thereon, and I do not provide a separate opinion on these
matters.