Merck 2008 Annual Report Download - page 143
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Auditor’s Report
We have audited the consolidated financial statements prepared by Merck Komman-
ditgesellschaft auf Aktien, Darmstadt, comprising the balance sheet, the income state-
ment, statement of recognized income and expense, the cash flow statement and the
notes to the consolidated financial statements together with the group management
report, for the Merck Group for the business year from January 1 to December 31, 2008.
The preparation of the consolidated financial statements and the group management
report in accord ance with International Financial Reporting Standards (IFRS) as
adopted by the EU, and the additional requirements of German commercial law pursu-
ant to § 315a Abs. 1 HGB are the responsibility of the parent company’s management.
Our responsibility is to express an opinion on the consolidated financial statements
and the group management report based on our audit.
We conducted our audit of the consolidated financial statements in accordance with
§ 317 of the German Commercial Code (HGB) and German generally accepted standards
for the audit of financial statements promulgated by the Institut der Wirtschafts prüfer
(IDW). Those standards require that we plan and perform the audit such that misstate-
ments materially affecting the presentation of the net assets, financial position and
results of operations in the consolidated financial statements in accordance with the
applicable financial reporting framework and in the group management report are
detected with reasonable assurance. Knowledge of the business activities and the eco-
nomic and legal environment of the Group and expectations as to possible misstatements
are taken into account in the determination of audit procedures. The effectiveness of
the accounting-related internal control system and the evidence supporting the disclo-
sures in the consolidated financial statements and the group manage ment report are
examined primarily on a test basis within the framework of the audit. The audit
includes assessing the annual financial statements of those entities included in con-
solidation, the determination of entities to be included in consolidation, the accounting
and consolidation principles used and significant estimates made by manage ment, as
well as evaluating the overall presentation of the consolidated financial statements
and group management report. We believe that our audit provides a reasonable basis
for our opinion.
138 | Merck Annual Report 2008