ADT 2011 Annual Report Download - page 282

13JAN201211521090
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Report of the Statutory Auditor
To the General Meeting of
TYCO INTERNATIONAL LTD., SCHAFFHAUSEN
Report on the consolidated financial statements
As statutory auditor, we have audited the accompanying consolidated financial statements of Tyco
International Ltd., which comprise the consolidated balance sheet, statement of operations, statement
of shareholders’ equity, cash flow statement and notes (2011 Financials pages 79 to 171) for the fiscal
year ended September 30, 2011.
Board of Directors’ Responsibility
The Board of Directors is responsible for the preparation and fair presentation of the consolidated
financial statements in accordance with accounting principles generally accepted in the United States of
America (US GAAP) and the requirements of Swiss law. This responsibility includes designing,
implementing and maintaining an internal control system relevant to the preparation and fair
presentation of consolidated financial statements that are free from material misstatement, whether due
to fraud or error. The Board of Directors is further responsible for selecting and applying appropriate
accounting policies and making accounting estimates that are reasonable in the circumstances.
Auditor’s Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our
audit. We conducted our audit in accordance with Swiss law, Swiss Auditing Standards and auditing
standards generally accepted in the United States of America (US GAAS). Those standards require
that we plan and perform the audit to obtain reasonable assurance whether the consolidated financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the consolidated financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers the
internal control system relevant to the entity’s preparation and fair presentation of the consolidated
financial statements in order to design audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on effectiveness of the entity’s internal control system. An
audit also includes evaluating the appropriateness of the accounting policies used and the
reasonableness of accounting estimates made, as well as evaluating the overall presentation of the
consolidated 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 consolidated financial statements for the fiscal year ended September 30, 2011
present fairly, in all material respects, the financial position, the results of operations and the cash
flows in accordance with US GAAP and comply with Swiss law.
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