LensCrafters 2015 Annual Report Download - page 262

INDEPENDENT AUDITORS’ REPORT IN ACCORDANCE WITH ARTICLES 14 AND 16 OF
LEGISLATIVE DECREE 39 OF 27 JANUARY 2010
To the Shareholders of
Luxottica Group SpA
Report on the financial statements
We have audited the accompanying financial statements of Luxottica Group SpA, which comprise the
statement of financial position as of 31 December 2015, the statement of income, the statement of
comprehensive income, the statement of changes in equity, the statement of cash flows for the year
then ended, a summary of significant accounting policies and other explanatory notes.
Directors’ responsibility for the financial statements
The directors are responsible for the preparation of financial statements that give a true and fair view
in accordance with International Financial Reporting Standards as adopted by the European Union, as
well as with the regulations issued to implement article 9 of Legislative Decree 38/05.
Auditors’ responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with International Standards on Auditing (ISA Italia) drawn up
pursuant to article 11, paragraph 3, of Legislative Decree 39 of 27 January 2010. Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing audit procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The audit procedures selected depend on the auditor
professional judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity preparation of financial statements that give a true and fair view,
to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates made by the directors, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.