Audi 2006 Annual Report Download - page 162

1 6 0
This report was originally prepared in German. In case of ambiguities the German version
shall prevail:
“Auditor’s Report
We have audited the consolidated financial statements prepared by AUDI AG, Ingolstadt,
comprising the balance sheet, income statement, statement of recognised income and ex-
pense, cash flow statement and the notes to the consolidated financial statements, together
with the group management report for the business year from January 1 to December 31,
2006. The preparation of the consolidated financial statements and the group management
report in accordance with the IFRS, as adopted by the EU, and the additional requirements
of German commercial law pursuant to § (Article) 315a Abs. (Paragraph) 1 HGB
(“Handelsge-
setzbuch”: German Commercial Code)
are the responsibility of the parent Company’s Board
of Management. Our responsibility is to express an opinion on the consolidated financial
statements and on the group management report based on our audit.
We conducted our audit of the consolidated financial statements in accordance with
§ 317 HGB and German generally accepted standards for the audit of financial statements
promulgated by the Institut der Wirtschaftsprüfer (Institute of Public Auditors in Germany)
(IDW). Those standards require that we plan and perform the audit such that misstatements
materially affecting the presentation of the net assets, financial position and results of op-
erations in the consolidated financial statements in accordance with the applicable financial
reporting framework and in the group management report are detected with reasonable
assurance. Knowledge of the business activities and the economic and legal environment of
the Group and expectations as to possible misstatements are taken into account in the de-
termination of audit procedures. The effectiveness of the accounting-related internal control
system and the evidence supporting the disclosures in the consolidated financial state-
ments and the group management report are examined primarily on a test basis within the
framework of the audit. The audit includes assessing the annual financial statements of
those entities included in consolidation, the determination of the entities to be included in
consolidation, the accounting and consolidation principles used and significant estimates
made by the Company´s Board of Management, as well as evaluating the overall presenta-
tion of the consolidated financial statements and the group management report. We believe
that our audit provides a reasonable basis for our opinion.
Our audit has not led to any reservations.
In our opinion based on the findings of our audit, the consolidated financial statements
comply with the IFRS, as adopted by the EU, and the additional requirements of German
commercial law pursuant to § 315a Para. 1 HGB
and give a true and fair view of the net as-
sets, financial position and results of operations of the Group in accordance with these
requirements. The group management report is consistent with the consolidated financial
statements and and as a whole provides a suitable view of the Group’s position and suitably
presents the opportunities and risks of future development.”
Munic, February 13, 2007
PricewaterhouseCoopers
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft
Wagner ppa. Justenhoven
Wirtschaftsprüfer Wirtschaftsprüferin
Independ ent A udito r’s Report