Kia 2005 Annual Report Download - page 119

Download and view the complete annual report

Please find page 119 of the 2005 Kia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

119
2005 Annual Report
Internal Accounting Control System Review Report English translation of a Report
Originally Issued in Korean
To the Chief Executive Officer of
Kia Motors Corporation:
We have reviewed the report of managem ent’s assessm ent of internal accounting control system (“IACS”) of Kia Motors Corporation (the “Com pany”) as of Decem ber 31,
2005. In accordance with Article 2-2 of the Act on External Audit for Stock Companies (the “External Audit Law ”) of the Republic of Korea, the Com pany’s m anagem ent is
responsible for assessing the design and operations of its IACS. Our responsibility is to review m anagem ent’s assessment and issue a report based on our review .
We conducted our review in accordance with Article 2-3 of the External Audit Law . Our review included inquiries of managem ent and em ployees, inspection of related
docum ents and checking of the operations of the Com pany’s IACS. We did not perform an audit of the Com pany’s IACS and accordingly, we do not express an audit
opinion.
As this report is based on Interim Guidelines on Auditors’ Review and Report on Managem ent’s Assessm ent of IACS, issued by the Korean Audit Standards Committee on
March 29, 2005, it applies only from that date until the date the Final Standard for Management’s Assessm ent of IACS and Final Standard for Auditors’ Review and Report
on Managem ent Assessm ent of IACS becom es effective. A review performed based on the final standards may have different results and accordingly, the content of our
report may be different.
Based on our review , no m aterial weakness in the design or operations of the Com pany’s IACS under Article 2-2 of the External Audit Law as of Decem ber 31, 2005 has
come to our attention.
This report applies to the Com pany’s IACS in existence as of Decem ber 31, 2005. We did not review the Com pany’s IACS subsequent to Decem ber 31, 2005. This report
has been prepared for Korean regulatory purposes, pursuant to the External Audit Law , and m ay not be appropriate for other purposes or for other users.
January 26, 2006
Not ice to Readers _
This report is annexed in relation to the audit of the financial statements as of December 31, 2005 and the review of internal accounting control system
pursuant to Article 2-3 of the Act on External Audit for Stock Companies of the Republic of Korea.