INDEPENDENT AUDITORS REPORT

To the
We have audited the accompanying financial statements of ., which
comprise the balance sheet at December 31,2011 and the related statements of
operations shareholders equity, income statement and cash flows for the year then
ended and a summary of significant accounting policies and other explanatory
notes.
Managements responsibility for the financial statements
Management is responsible for the preparation and fair presentation of these
financial statements to accordance with VietNams Financial Reporting Standards.
This responsibility includes: designing, implementing, and maintaining internal
control relevant to the preparation and fair presentation of
financial
statements that are free from material misstatements, whether due to fraud or error,
selecting and applying appropriate accounting policies, and making accounting
estimates that are reasonable in the circumstances.
Auditors responsibility
Our responsibility is to express an opinion on these financial statements based on
our audit. We conducted our audit in accordance with VietNams standards on
Auditing. Those standards require that we comply with relevant ethical
requirements and plan and perform the audit to obtain reasonable assurance
whether the financial statements are free of 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 our 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 auditors consider internal control relevant to the entitys
preparation and fair presentation of the financial statement 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 entitys internal control. An audit
also includes evaluating the appropriateness of accounting principles used and the
reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Opinion

In our opinion, these financial statements present fairly, in all material respects, the
financial position of the .. at December 31, 2011, and its financial
performance and its cash flows for the year then ended to accordance with
VietNams Financial Reporting Standards.

(Audit Firm) [AF: 8888] Chartered Accountants

(Partner) [9999/9/99 (J/PH)] Chartered Accountant
Date
[Location in the country]

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF

XYZ BERHAD
Report on the Financial Statements
We have audited the financial statements of XYZ Berhad, which
comprise the balance sheet as at 31 December 20XX, and the
income statement, statement of changes in equity and cash flow
statement for the year then ended, and a summary of significant
accounting policies and other explanatory notes, as set out on
pages AA to ZZ.
Directors Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation
and fair presentation of these financial statements in accordance
with Financial Reporting Standards1 and the Companies Act 1965
in Malaysia. This responsibility includes: designing, implementing
and maintaining internal control relevant to the preparation and
fair presentation of financial statements that are free from
material misstatement, whether due to fraud or error; selecting
and applying appropriate accounting policies; and making
accounting estimates that are reasonable in the circumstances.
Auditors Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We conducted our audit in
accordance with approved standards on auditing in Malaysia.
Those standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance
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 our judgment, including the
assessment of risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk
assessments, we consider internal control relevant to the
Companys 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 Companys

internal control. An audit also includes evaluating the
appropriateness
of
accounting
policies
used
and
the
reasonableness of accounting estimates made by the directors, as
well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements have been properly drawn
up in accordance with Financial Reporting Standards1 and the
Companies Act 1965 in Malaysia so as to give a true and fair view
of the financial position of the Company as of 31 December 20XX
and of its financial performance and cash flows for the year then
ended.
Report on Other Legal and Regulatory Requirements
In accordance with the requirements of the Companies Act 1965
in Malaysia, we also report that in our opinion the accounting and
other records and the registers required by the Act to be kept by
the Company have been properly kept in accordance with the
provisions of the Act.
Other Matters
This report is made solely to the
body, in accordance with Section
in Malaysia and for no other
responsibility to any other person

members of the Company, as a

174 of the Companies Act 1965
purpose. We do not assume
for the content of this report.

(Audit Firm) [AF: 8888] Chartered Accountants

(Partner) [9999/9/99 (J/PH)] Chartered Accountant
Date

[Location in the country]

INDEPENDENT AUDITOR'S REPORT

[Appropriate Addressee]
We have audited the accompanying financial statements of X Company, which
comprise the balance sheet as of December 31, 20XX, and the statement of
comprehensive income, statement of changes in equity and cash flow statement for
the year then ended, and a summary of significant accounting policies and other
explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these
financial statements in accordance with International Financial Reporting
Standards, and for such internal control as management determines is necessary to
enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.

Auditor's Responsibility
Our responsibility is to express an opinion on this financial statement based on our
audit. We conducted our audit in accordance with International Standards on
Auditing. Those standards required that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of 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 auditor's 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. An audit
also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements.
We believe that the audit evidence that we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.

Opinion
In our opinion, the financial statements present fairly, in all material respects, (or
give a true and fair view of) the financial position of X Company as at December
31, 20XX, and (of) its financial performance and its cash flows for the year then
ended in accordance with International Financial Reporting Standards.

[Auditor's signature]
[Date of the auditor's report]
[Auditor's address]

The Stockholders and the Board of Directors

The Manufacturers Life Insurance Co. (Phils.), Inc.
Report on the Parent Company Financial Statements
We have audited the accompanying parent company financial statements of
The Manufacturers Life Insurance Co. (Phils.), Inc. (a wholly owned subsidiary
of The Manufacturers Life Insurance Company - Canada), which comprise the
parent company statements of financial position as at December 31, 2015
and 2014, and the parent company statements of income, statements of
comprehensive income, statements of changes in equity and statements of
cash flows for the years then ended, and a summary of significant
accounting policies and other explanatory information.
Managements Responsibility for the Parent Company Financial
Statements
Management is responsible for the preparation and fair presentation of these
parent company financial statements in accordance with Philippine Financial
Reporting Standards, and for such internal control as management
determines is necessary to enable the preparation of parent company
financial statements that are free from material misstatement, whether due
to fraud or error.
Auditors Responsibility
Our responsibility is to express an opinion on these parent company financial
statements based on our audits. We conducted our audits in accordance with
Philippine Standards on Auditing. Those standards require that we comply
with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the parent company financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the parent company financial statements. The
procedures selected depend on the auditors judgment, including the
assessment of the risk of material misstatement of the parent company

financial statements, whether due to fraud or error. In making those risk

assessments, the auditor considers internal control relevant to the entitys
preparation and fair presentation of the parent company 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 entitys internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by the management, as well
as evaluating the overall presentation of the parent company financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the parent company financial statements present fairly, in all
material respects, the financial position of The Manufacturers Life Insurance
Co. (Phils.), Inc. as at December 31, 2015 and 2014, and its financial
performance and its cash flows for the years then ended in accordance with
Philippine Financial Reporting Standards.

Report on the Supplementary Information Required Under Revenue

Regulations 15-2010
The supplementary information required under Revenue Regulations 15-2010
for purposes of filing with the Bureau of Internal Revenue is presented by the
management of The Manufacturers Life Insurance Co. (Phils.), Inc. in a
separate schedule. Revenue Regulations 15-2010 requires the information to
be presented in the notes to financial statements. Such information is not a
required part of the basic financial statements. The information is also not
required by Securities Regulation Code Rule 68, As Amended (2011). Our
opinion on the basic financial statements is not affected by the presentation
of the information in a separate schedule.

SYCIP GORRES VELAYO & CO.

Lucy L. Chan
Partner CPA Certificate No. 88118
SEC Accreditation No. 0114-AR-4 (Group A),
January 7, 2016, valid until January 6, 2019
Tax Identification No. 152-884-511
BIR Accreditation No. 08-001998-46-2015, February 27, 2015, valid until
February 26, 2018
PTR No. 5321621, January 4, 2016, Makati City
April 5, 2016