Reebok 2010 Annual Report Download - page 187

Consolidated Financial Statements Auditor’s Report 183
Auditor’s ReportAuditor’s Report
We have audited the consolidated financial statements prepared by adidas AG, Herzogenaurach, comprising the statement of financial position, income
statement, statement of comprehensive income, statement of changes in equity, statement of cash flows and the notes, together with the Group
management report for the fiscal year January 1 to December 31, 2010. The preparation of the consolidated financial statements and the Group
management report in accordance with IFRS, as adopted by the EU, and the additional requirements of German commercial law pursuant to § 315a (1)
German Commercial Code (Handelsgesetzbuch – HGB) is the responsibility of the company’s Executive Board. 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 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 profit or loss 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 economic and legal environment of the Group and evaluations of 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 the 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 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 IFRS, 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 profit or loss
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.
Frankfurt am Main, February 15, 2011
KPMG AG
Wirtschaftsprüfungsgesellschaft
(Original German version signed by:)
Michael Kozikowski Achim Wolper
Wirtschaftsprüfer Wirtschaftsprüfer
(German Public Auditor) (German Public Auditor)