Kia 2012 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 2012 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 114

  • 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

KPMG Samjong Accounting Corp.
Seoul, Korea
February 26, 2013
    
  


The Board of Directors and Stockholders
Kia Motors Corporation:
We have audited the accompanying consolidated statements of financial position of Kia Motors Corporation and its subsidiaries (the
“Company”) as of December 31, 2012 and 2011, and the related consolidated statements of income and comprehensive income,
changes in equity and cash flows for the years than ended. Management is responsible for the preparation and fair presentation of these
consolidated financial statements in accordance with Korean International Financial Reporting Standards. Our responsibility is to express an
opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the Republic of Korea. 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 management, as well as
evaluating the overall financial statement presentation. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the
Company as of December 31, 2012 and 2011, and its financial performance and its cash flows for the years than ended, in accordance with
Korean International Financial Reporting Standards.
Without qualifying our opinion, we draw attention to the following:
The procedures and practices utilized in the Republic of Korea to audit such consolidated financial statements may differ from those
generally accepted and applied in other countries. Accordingly, this report and the accompanying consolidated financial statements are for
use by those knowledgeable about Korean auditing standards and their application in practice.
Based on a report originally issued in Korean



