Chrysler 2003 Annual Report Download - page 191
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190
To the Stockholders of Fiat S.p.A.:
1. We have audited the financial statements of Fiat S.p.A. as of
and for the year ended December 31, 2003. These financial
statements are the responsibility of the Company’s Directors.
Our responsibility is to express an opinion on these 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 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
Report of the External Auditors on the Financial Statements pursuant to
Article 156 of Legislative Decree No. 58 of February 24, 1998
accounting principles used and the reasonableness of the
estimates made by the Directors. We believe that our audit
provides a reasonable basis for our opinion. The audit of the
financial statements of the subsidiary Magneti Marelli
Holding S.p.A., in which Fiat S.p.A. holds an investment which
represents 9% of the total investments in shareholdings and
4% of the total assets reported in the financial statements, is
the responsibility of the other auditors.
For the opinion on the prior year’s 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 financial statements of Fiat S.p.A. 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 Company’s financial position and results of operations.
Turin, Italy
April 8, 2004
Deloitte & Touche S.p.A.
Colin Johnston - Partner
This report and the financial statements to which it refers have
been translated into English from the original version in Italian.
The 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.