Chrysler 2005 Annual Report Download - page 274

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Other Items on the Agenda and Related Reports and Motions
OPINION OF THE BOARD OF STATUTORY AUDITORS
ON THE ENGAGEMENT OF DELOITTE & TOUCHE S.P.A.
AS EXTERNAL AUDITORS
Stockholders,
Article 159, paragraph 1 of Legislative Decree no. 58 of February 24,
1998 envisages that:
“The shareholders’ meeting shall confer, on the occasion of the
approval of the accounts or of the annual meeting […] the
engagement to audit the annual accounts and the consolidated
accounts on an auditing firm entered in the special register referred
to in Article 161, after consulting the board of auditors. The meeting
shall determine the fee to which the auditing firm shall be entitled.”
We have carefully examined the proposal made by Deloitte &
Touche S.p.A., which the directors have proposed to you as the
external auditors of the Company for the fiscal years from 2006 to
2011. On the basis of the statute cited above, this has led to our
expressing the following opinion in favor of this proposal, with the
following observations:
as far as we know, no situations exist that would cast doubt on
the independence of Deloitte & Touche S.p.A. vis-à-vis Fiat S.p.A.;
our examination of the external auditors’ proposal has led us to
conclude that it is thorough, in terms of the scheduling and
procedures to be applied for a complete and adequate auditing
plan, in line with generally accepted accounting principles, with
Deloitte & Touche S.p.A. assuming full liability as auditor, pursuant
to Article 165, paragraph 1 bis of Legislative Decree no. 58 of
February 24, 1998;
in our opinion, the external auditors’ organization and operating
structure assure that it will perform audits that are fully consistent
with the scope and complexity of the mandate conferred on it;
Deloitte & Touche S.p.A. is an auditing firm entered in the special
register of authorized auditors kept by Consob.
Turin, April 6, 2006
The Statutory Auditors
Cesare Ferrero
Giuseppe Camosci
Giorgio Ferrino