Chrysler 2010 Annual Report Download - page 375

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AUDITOR’S
REPORTS
To the Shareholders of FIAT S.p.A.
1. We have audited the consolidated financial statements of Fiat S.p.A. and its subsidiaries (the “Fiat Group”) as of and for
the year ended 31 December, 2010, which comprise the statement of financial position, the income statement, the statement
of comprehensive income, the statement of changes in equity, the statement of cash flows and the related notes to financial
statements. These consolidated financial statements prepared in accordance with International Financial Reporting Standards
(“IFRS”) as adopted by the European Union and the requirements of national regulations issued pursuant to art. 9 of Italian
Legislative Decree n. 38/2005 are the responsibility of the Company’s Directors. Our responsibility is to express an opinion on
these consolidated financial statements based on our audit.
2. We conducted our audit in accordance with the Auditing Standards recommended by CONSOB, the Italian Commission for
listed Companies and the Stock Exchange. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by the Directors, as well as evaluating the
overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
The consolidated financial statements present for comparative purposes prior year data. As explained in the notes to the
consolidated financial statements, as consequence of the demerger of Fiat S.p.A. (Scissione Parziale Proporzionale pursuant
to Article 2506-bis of the Italian Civil Code) approved by the Shareholders’ Meeting on 16 September, 2010, the consolidated
financial statements as of 31 December, 2010 have been prepared in accordance with IFRS 5 – “Non-current assets held
for sale and Discontinued Operations”; as a consequence the Directors have re-presented comparative figures related to the
prior year’s consolidated income statement, statement of cash flows and the related notes with respect to the data previously
reported and audited by us, on which we issued an auditor’s report dated 18 February, 2010. These changes in presentation
of the comparative figures and related disclosures included in the notes to the consolidated financial statements have been
audited by us for the purpose of expressing our opinion on the consolidated financial statements as of and for the year ended
31 December, 2010.
AUDITOR’S REPORT ON THE CONSOLIDATED
FINANCIAL STATEMENTS PURSUANT
TO ARTICLES 14 AND 16 OF LEGISLATIVE
DECREE N. 39 OF 27 JANUARY 2010