Chrysler 2004 Annual Report Download - page 213

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211
Dear Stockholders:
The consolidated financial statements of Fiat S.p.A. at
December 31, 2004, including the balance sheet, statement of
operations and respective notes, which are being submitted for
your consideration, show a net loss of 1,586 million euros,
compared with a net loss of 1,900 million euros in the preceding
fiscal year. They were communicated to us within the statutory
deadlines, together with the Report on Operations, and were
prepared in accordance with the method of presentation
required under Legislative Decree No. 127 of April 9, 1991.
The tests carried out by Deloitte & Touche S.p.A., which is
responsible for the audit, have shown that the amounts included
in the financial statements are consistent with the Parent
Company’s accounting records, the statutory and consolidated
financial statements of its subsidiaries and the official
information provided by said subsidiaries.
The financial statements communicated by the subsidiaries to
the Parent Company for the purpose of compiling the
consolidated financial statements were prepared by the
respective management bodies, reviewed by the bodies and/or
individuals responsible for monitoring each individual company,
as required under the pertinent legal systems, and audited by
REPORT OF THE BOARD OF STATUTORY AUDITORS PURSUANT TO
ARTICLE 41 OF LEGISLATIVE DECREE NO. 127/1991
the audit firm, in accordance with the procedure required for
certification of the consolidated financial statements.
Consequently, as allowed under Article 41, Section 3 of
Legislative Decree No. 127 of April 9, 1991, the Board of
Statutory Auditors did not review these financial statements or
the consolidated financial statements, except for the areas
discussed below.
The determination of the scope of consolidation, the selection
of the principles used to consolidate equity investments and the
procedures used for that purpose comply with the requirements
of Legislative Decree No. 127 of April 9, 1991. Therefore, the
structure of the consolidated financial statements is technically
correct and overall consistent with the pertinent legislation. In
particular, it also includes the information required by Consob
with registered letter DAC/RM/97002477 of March 14, 1997
concerning companies whose securities are listed both in Italy
and in regulated markets in North America.
The Report on Operations presents fairly the results and
financial position, as well as the operations in 2004 and the
events that have occurred since the end of the fiscal year, for the
complex of companies subject of the consolidation process.
Based on our examination, this report is consistent with the
consolidated financial statements.
Turin, May 26, 2005
The Statutory Auditors
Cesare Ferrero
Giuseppe Camosci
Giorgio Ferrino