Chrysler 2005 Annual Report Download - page 263

262 Reports of the Board of Statutory Auditors
Report of the Board of Statutory
Auditors pursuant to Article 41
of Legislative Decree No. 127/1991
Dear Stockholders:
The consolidated financial statements of Fiat S.p.A. at December 31,
2005, including the Balance Sheet, Income Statement and respective
Notes, which are being submitted for your consideration, show a net
income for the Group of 1,331 million euros.They were provided to
us within the statutory terms, together with the Report on
Operations, and were prepared in accordance with the International
Financial Reporting Standards (IFRS) adopted by the European
Union.
The controls 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 accounting records
of the Parent Company and its Subsidiaries, adjusted as necessary
to make them compliant with IFRS, and with the official information
provided by said subsidiaries.
These results and information were communicated by the Subsidiaries
to the Parent Company for use in the preparation of the consolidated
financial statements. They were examined by the external auditors
during their audit of the consolidated financial statements. As far as
accounting records are concerned, they were reviewed by the bodies
and/or individuals responsible for monitoring each individual company
as required under the pertinent legal systems. 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
results and information and the consolidated financial statements,
except for the items discussed below.
The determination of the scope of consolidation, the selection of the
standards used to consolidate subsidiaries and the procedures used
for that purpose comply with the requirements of IFRS.Therefore,
the structure of the consolidated financial statements is technically
correct and overall consistent with the pertinent legislation. In
particular, it also includes an appendix specifically dedicated to the
transition to International Financial Reporting Standards.The Report
on Operations presents fairly the results, balance sheet and financial
position, as well as the operations in 2005 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, April 6, 2006
The Statutory Auditors
Cesare Ferrero
Giuseppe Camosci
Giorgio Ferrino