Appendix 1 : Financial statements

Audited Financial Statements

The financial statements of the University and the Group have been audited by PricewaterhouseCoopers. In the opinion of the Auditors, the financial statements have been properly prepared in accordance with accounting principles generally accepted in Hong Kong and give a true and fair view of the state of affairs of the University and of the Group as at 31 March 2008 and of income and expenditure of the University and of the Group for the year then ended.