Chrysler 2011 Annual Report Download - page 335

334 Reports of the
Independent
Auditors
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 2011, 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.
For the opinion on the prior year’s consolidated financial statements, whose data are presented for comparative purposes, reference
should be made to our auditor’s report issued on 21 February 2011.
3. In our opinion, the consolidated financial statements of the Fiat Group as of and for the year ended 31 December 2011 comply with
International Financial Reporting Standards as adopted by the European Union and the requirements of national regulations issued
pursuant to art. 9 of Italian Legislative Decree n. 38/2005; accordingly, they give a true and fair view of the financial position, the
results of operations and the cash flows of the Fiat Group as of and for the year then ended.
Auditor’s Report on the Consolidated Financial
Statements pursuant to Articles 14 and 16
of Legislative Decree n. 39 of 27 January 2010