Chrysler 2003 Annual Report Download - page 190

189
To the Stockholders of Fiat S.p.A.:
1. We have audited the consolidated financial statements of
Fiat S.p.A. and subsidiaries as of and for the year ended
December 31, 2003. These consolidated financial statements
are the responsibility of the Company’s Directors.
Our responsibility is to express an opinion on these
consolidated financial statements based on our audit.
2. We conducted our audit in accordance with generally
accepted auditing standards in Italy as recommended by the
Italian Regulatory Commission for Companies and the Stock
Exchange ("Consob"). Those Standards require that we plan
and perform the audit to obtain reasonable assurance about
whether the consolidated financial statements are free of
material misstatement and are, as a whole, reliable. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit
also includes assessing the adequacy and the fairness of the
accounting principles used and the reasonableness of the
Report of the External Auditors on the Consolidated Financial Statements
pursuant to Article 156 of Legislative Decree No. 58 of February 24, 1998
estimates made by the Directors. We believe that our audit
provides a reasonable basis for our opinion. The audit of the
financial statements of subsidiaries in the Components sector,
which statements reflect total assets representing 3% of
consolidated total assets and revenues representing 4% of
consolidated revenues, is the responsibility of other auditors.
For the opinion on the prior year’s consolidated financial
statements, which are presented for comparative purposes
as required by law, reference should be made to the auditors’
report dated March 31, 2003 issued by Deloitte & Touche
Italia S.p.A.
3. In our opinion, the consolidated financial statements of
Fiat S.p.A. and subsidiaries as of and for the year ended
December 31, 2003, comply with the Italian statutory
provisions governing the criteria for their preparation;
accordingly, they give a true and fair view of the financial
position and results of operations of the Company and
its subsidiaries.
Turin, Italy
April 8, 2004
Deloitte & Touche S.p.A.
Colin Johnston - Partner
This report and the consolidated financial statements to which
it refers have been translated into English from the original
version in Italian. The consolidated financial statements have
been prepared in accordance with the Italian law related to such
financial statements. Certain accounting practices applied by
the Company that conform with generally accepted accounting
principles in Italy, may not conform with generally accepted
accounting principles in other countries.