Mazda 2014 Annual Report Download - page 65

Independent Auditor’s Report
To the Board of Directors of Mazda Motor Corporation:
We have audited the accompanying consolidated financial statements of Mazda Motor
Corporation and its consolidated subsidiaries, which comprise the consolidated balance
sheets as at March 31, 2014, and the consolidated statements of income, statements of
comprehensive income, statements of changes in net assets and statements of cash flows
for the year then ended, and a summary of significant accounting policies and other
explanatory information expressed in Japanese yen.
Management’s Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated
financial statements in accordance with accounting principles generally accepted in Japan,
and for such internal control as management determines is necessary to enable the prepa-
ration of consolidated financial statements that are free from material misstatements,
whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these consolidated financial statements
based on our audit. We conducted our audit in accordance with auditing standards gener-
ally accepted in Japan. Those standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance about whether the consoli-
dated financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the consolidated financial statements. The procedures selected depend on
our judgement, including the assessment of the risks of material misstatement of the con-
solidated financial statements, whether due to fraud or error. In making those risk assess-
ments, we consider internal control relevant to the entity’s preparation and fair presentation
of the consolidated financial statements in order to design audit procedures that are appro-
priate in the circumstances, while the objective of the financial statement audit is 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 rea-
sonableness of accounting estimates made by management, as well as evaluating the
overall presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to pro-
vide a basis for our audit opinion.
Opinion
In our opinion, the consolidated financial statements present fairly, in all material respects,
the financial position of Mazda Motor Corporation and its consolidated subsidiaries as at
March 31, 2014, and their financial performance and cash flows for the year then ended in
accordance with accounting principles generally accepted in Japan.
Convenience Translation
The U.S. dollar amounts in the accompanying consolidated financial statements with
respect to the year ended March 31, 2014 are presented solely for convenience. Our audit
also included the translation of yen amounts into U.S. dollar amounts and, in our opinion,
such translation has been made on the basis described in Note 1 to the consolidated finan-
cial statements.
June 24, 2014
Hiroshima, Japan
63
Mazda Annual Report 2014
CONTENTS
Foundations Underpinning
Sustainable Growth
Financial Section
Review of Operations
Message from Management
Introduction
Brand Value Management