Audi 2015 Annual Report Download - page 286

AUDITOR’S REPORT
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We have audited the Consolidated Financial Statements pre-
pared by AUDI Aktiengesellschaft, Ingolstadt – comprising the
income statement and statement of recognized income and
expense, the balance sheet, the cash flow statement, the state-
ment of changes in equity and the notes to the Consolidated
Financial Statements – together with the Group Management
Report, which is combined with the Company Management
Report, for the business year from January 1 to December 31,
2015. The preparation of the Consolidated Financial Statements
and the Combined Management Report in accordance with
IFRS, as adopted by the EU, and the additional requirements of
German commercial law pursuant to Section 315a, Para. 1 of
the German Commercial Code (HGB) are the responsibility of
the Company’s Board of Management. Our responsibility is to
express an opinion on the Consolidated Financial Statements
and the Combined Management Report based on our audit.
We conducted our audit of the Consolidated Financial State-
ments in accordance with Section 317 of the German Commercial
Code (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 operations in
the Consolidated Financial Statements in accordance with the
applicable financial reporting framework and in the Combined
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 determination of
audit procedures. The effectiveness of the accounting-related
internal control system and the evidence supporting the dis-
closures in the Consolidated Financial Statements and in the
Combined 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 presen-
tation of the Consolidated Financial Statements and the Com-
bined 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 Consoli-
dated Financial Statements comply with the IFRS as adopted
by the EU, and the additional requirements of German commer-
cial law pursuant to Section 315a, Para. 1 of the German
Commercial Code (HGB), and give a true and fair view of the
net assets, financial position and results of operations of the
Group in accordance with these requirements. The Combined
Management Report is consistent with the Consolidated
Financial Statements and as a whole provides a suitable view
of the Group’s position and suitably presents the opportunities
and risks of future development.
Without qualifying our opinion, we point out that the interim
status of the investigation in connection with the diesel issue,
presented in the Notes to the Financial Statements on pages
228 f. and in the Combined Management Report on pages
147 f., was taken into account in the creation of provisions for
legal risks and warranties. On that basis, there are as yet no
indications that incumbent members of the Board of Manage-
ment of the Company had knowledge of the unregistered
software components (auxiliary emission control devices) in
connection with V6 3.0 TDI engines, or knowledge of irregulari-
ties in connection with control software used on the four-
cylinder diesel engines developed and submitted for type
approval by Volkswagen AG, until notified by the U.S. Environ-
mental Protection Agency (EPA) in fall 2015. Nevertheless, if
in the course of further investigations new findings should
come to light that indicate that members of the Board of
Management were aware of the diesel issue earlier, these
could potentially have an effect on the Consolidated Financial
Statements as well as on the Combined Management Report
for the 2015 fiscal year and the comparative figures for 2014.”
Munich, February 25, 2016
PricewaterhouseCoopers
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft
Frank Hübner Klaus Schuster
Wirtschaftsprüfer Wirtschaftsprüfer
(German Public Auditor) (German Public Auditor)
“AUDITOR’S REPORT