Chrysler 2003 Annual Report Download - page 194

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– analysis of the accounting procedures and controls
requested by the Audit Committee, for a fee of 45,000
euros;
– requested studies and analyses of the accounting
procedures and disclosures to be made in the Group’s
consolidated financial statements, in regard to significant
and non-recurring transactions carried out in fiscal 2002
by Fiat S.p.A. or its subsidiaries, for a fee of 80,000 euros;
– requested studies and analyses in regard to the
introduction of new United States accounting principles
applicable to the Fiat S.p.A. Form 20F at December 31,
2002, for a fee of 100,000 euros;
– other studies and accounting analyses, for a fee of 12,000
euros;
– additional audit activities, including issuance of associated
“comfort letters,” connected with the capital increase
described in the prospectus deposited at CONSOB
on July 1, 2003, for a fee of 130,000 euros;
– additional auditing activities connected with an agreement
for the sale of an equity interest in a subsidiary, for a fee
of 70,000 euros;
– auditing of the final statement of costs approved by the
joint committee founded by Fiat S.p.A. and the Turin
Polytechnic University for the establishment of three-year
and five-year university degree courses in automotive
engineering, for a fee of 5,200 euros;
– support activities during the diagnostic phase of the
“adoption of the International Accounting Standards (IAS)”
project at Fiat S.p.A. and its subsidiaries, for fees totaling
1,955,000 euros.
Based on our direct audits and the information received
from the external auditors, we have verified that the statutory
financial statements, which show a net loss of 2,358,789,924
euros, against a net loss of 2,052,620,996 euros in the previous
fiscal year, as explained in the Report on Operations, have been
prepared and presented in accordance with the applicable
provisions of law.
Therefore, we recommend that you approve them as they
have been submitted to you, together with the motion to
cover the loss for the year proposed by the Board of Directors.
The Board of Directors has made a motion that the
Extraordinary Stockholders’ Meeting approve numerous
mandatory and non-mandatory amendments to the Articles
of Association in order to bring them into compliance with the
requirements or suggestions of Legislative Decree no. 6/2003,
as amended. We grant our approval of these amendments
as they comply with the aforesaid provisions.
Turin, April 20, 2004
The Statutory Auditors
Cesare Ferrero
Giuseppe Camosci
Giorgio Ferrino