Porsche 2006 Annual Report Download - page 183

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Audit Opinion of the Group Auditor
“We have audited the consolidated financial statements, comprising the balance sheet, the income
statement, the cash flow statement, statement of changes in shareholders’ equity as well as the notes
to the financial statements – and the combined management report prepared by Dr. Ing. h.c. F. Porsche
Aktiengesellschaft, Stuttgart, for the fiscal year from August 1, 2006 to July 31, 2007. The preparation
of the consolidated financial statements and the group management report in accordance with IFRSs, as
adopted by the EU, and the additional requirements of German commercial law pursuant to § 315a (1) HGB
[“Handelsgesetzbuch”: German Commercial Code] is the responsibility of the Company’s management.
Our responsibility is to express an opinion on the consolidated financial statements and on the group
management report based on our audit.
We conducted our audit of the consolidated financial statements in accordance with § 317 HGB
(German Commercial Code) and German generally accepted standards for the audit of financial statements
promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). Those
standards require that we plan and perform the audit such that misstatements 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 manage-
ment report are detected with reasonable assurance. Knowledge of the business activities and the
economic 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 disclosures in the consolidated financial statements and
the group management 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 consolidation,
the determination of entities to be included in consolidation, the accounting and consolidation principles
used and significant estimates made by management, as well as evaluating the overall presentation of
the consolidated financial statements and the group management report. We believe that our audit
provides a reasonable basis for our opinion.
Our audit has not led to any reservations.
In our opinion, based on the findings of our audit, the consolidated financial statements comply with IFRSs
as adopted by the EU, the additional requirements of German commercial law pursuant to § 315a (1) HGB
and give a true and fair view of the net assets, financial position and results of operations of the Group in
accordance with these requirements. The group management report is consistent with the consolidated
financial statements and as a whole provides a suitable view of the Group’s position and suitably presents
the opportunities and risks of future development.”
Stuttgart, October 15, 2007
Ernst & Young AG
Wirtschaftsprüfungsgesellschaft
Steuerberatungsgesellschaft
Oesterle Strähle
Wirtschaftsprüfer Wirtschaftsprüfer
[German Public Auditor] [German Public Auditor]