BMW 2006 Annual Report Download - page 116

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We have audited the consolidated financial state-
ments prepared by Bayerische Motoren Werke
Aktiengesellschaft,comprising the income statement,
the balance sheet, statement of changes in equity,
cash flow statement and the notes to the consoli-
dated financial statements and its report on the
position of the company and the Group for the busi-
ness year from 1 January to 31 December 2006.
The preparation of the consolidated financial state-
ments and the group management report in accor-
dance with IFRSs, as adopted by the EU, and the
additional requirements of German commercial law
pursuant to §315a Abs.1 HGB are the responsibility
of the parent company`s management. Our respon-
sibility 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 (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 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
determination of audit procedures. The effectiveness
of the accounting-related internal control system
and the evidence supporting the disclosures in the
consolidated financial statements 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 deter-
mination of entities to be included in consolidation,
the accounting and consolidation principles used
and significant estimates made by management,
as well as evaluating the overall presentation of the
consolidated financial statements and group manage-
ment 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
IFRSs, as adopted by the EU, the additional require-
ments of German commercial law pursuant to §315a
Abs.1 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 group 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.
Munich, 2 March 2007
KPMG Deutsche Treuhand-Gesellschaft
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft
Dr. Schindler Höfer
Wirtschaftsprüfer Wirtschaftsprüfer
BMW Group
Auditors’ Report