Mercedes 2004 Annual Report Download - page 103
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99
The Supervisory Board DaimlerChrysler AG:
We have audited the accompanying consolidated balance sheets
of DaimlerChrysler AG and subsidiaries (“DaimlerChrysler”) as of
December 31, 2004 and 2003, and the related consolidated
statements of income, changes in stockholders’ equity, and cash
flows for each of the years in the three-year period ended
December 31, 2004. These consolidated financial statements
are the responsibility of DaimlerChrysler’s management. Our
responsibility is to express an opinion on these consolidated
financial statements based on our audits.
We conducted our audits in accordance with the standards of the
Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial state-
ments are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant esti-
mates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to
above present fairly, in all material respects, the financial posi-
tion of DaimlerChrysler as of December 31, 2004 and 2003, and
the results of their operations and their cash flows for each
of the years in the three-year period ended December 31, 2004,
in conformity with generally accepted accounting principles
in the United States of America.
As described in Note 1 to the consolidated financial statements,
DaimlerChrysler changed its method of accounting for stock-
based compensation in 2003. As described in Notes 3 and 11 to
the consolidated financial statements, DaimlerChrysler also
adopted the required portions of FASB Interpretation No. 46
(revised December 2003), “Consolidation of Variable Interest
Entities – an interpretation of ARB No. 51”, in 2003. As described
in Note 11 to the consolidated financial statements, Daimler-
Chrysler adopted Statement of Financial Accounting Standards
No. 142, “Goodwill and Other Intangible Assets,” in 2002.
Stuttgart, Germany
February 21, 2005
KPMG Deutsche Treuhand-Gesellschaft
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft
Prof. Dr. Wiedmann Krauß
Wirtschaftsprüfer Wirtschaftsprüfer
Report of Independent Registered
Public Accounting Firm