Cemex 2013 Annual Report Download - page 130

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Independent auditors’ report
The board of directors and stockholders
CEMEX, S.A.B. de C.V.:
Wehaveauditedtheaccompanyingseparatenancialstatements
ofCEMEX,S.A.B.deC.V.(“theCompany”),whichcomprisethe
separatebalancesheetsasatDecember31,2013and2012,the
separatestatementsofoperations,comprehensiveloss,changes
in stockholders’ equity, and cash ows for the years ended
December31,2013,2012and2011,andnotes,comprisinga
summaryofsignicantaccountingpoliciesandotherexplanatory
information.
Management’s Responsibility for the Separate Financial
Statements
Management is responsible for the preparation and fair
presentation of these nancial statements in accordance with
InternationalFinancialReportingStandards,andforsuchinternal
controlasmanagement determinesis necessarytoenablethe
preparationofnancialstatementsthatarefree from material
misstatement,whetherduetofraudorerror.
Auditors’ Responsibility
Our responsibility is to express an opinion on these nancial
statements based on our audits.  We conducted our audits in
accordance with International 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 nancialstatementsare freefrommaterial
misstatement.
Anauditinvolvesperformingprocedurestoobtainauditevidence
abouttheamountsanddisclosuresinthenancialstatements.
Theproceduresselecteddependonourjudgment,includingthe
assessmentoftherisksofmaterialmisstatementofthenancial
statements,whetherduetofraudorerror.Inmakingthoserisk
assessments,weconsiderinternalcontrolrelevanttotheentity’s
preparation and fair presentation of the nancial 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nancialstatements.
Webelievethattheauditevidencewehaveobtainedissufcient
andappropriatetoprovideabasisforourauditopinion.
Opinion
Inouropinion, theseparatenancialstatementspresentfairly,
inallmaterialrespects,theunconsolidatednancialpositionof
CEMEX,S.A.B.deC.V.asatDecember31,2013and2012,and
itsunconsolidatednancialperformanceanditsunconsolidated
cash ows for the years ended December 31, 2013, 2012
and2011,inaccordancewithInternationalFinancialReporting
Standards.
KPMG Cárdenas Dosal, S.C.
Luis Gabriel Ortiz Esqueda
Monterrey,N.L.,Mexico
January31,2014
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