Saab 2011 Annual Report Download - page 137

Report on the annual accounts and consolidated accounts
We have audited the annual accounts and consolidated accounts of
Saab AB for the year . e annual accounts and consolidated
accounts of the company are included in the printed version of this
document on pages –.
Responsibilities of the Board of Directors and the Managing Director
for the annual accounts and consolidated accounts
e Board of Directors and the Managing Director are responsible
for the preparation and fair presentation of these annual accounts
and consolidated accounts in accordance with International Finan-
cial Reporting Standards , as adopted by the EU, and the Annual
Accounts Act, and for such internal control as the Board of Directors
and the Managing Director determine is necessary to enable the
preparation of annual accounts and consolidated accounts that are
free from material misstatement, whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these annual accounts
and consolidated accounts based on our audit. We conducted our audit
in accordance with International Standards on Auditing and generally
accepted auditing standards in Sweden. ose standards require that
we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the annual accounts and
consolidated accounts are free from material misstatement.
An audit involves performing procedures to obtain audit evi-
dence about the amounts and disclosures in the annual accounts and
consolidated accounts. e procedures selected depend on the audi-
tor’s judgement, including the assessment of the risks of material
misstatement of the annual accounts and consolidated accounts,
whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the company’s prepara-
tion and fair presentation of the annual accounts and consolidated
accounts in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion
on the eectiveness of the company’s internal control. An audit also
includes evaluating the appropriateness of accounting policies used
and the reasonableness of accounting estimates made by the Board of
Directors and the Managing Director, as well as evaluating the over-
all presentation of the annual accounts and consolidated accounts.
We believe that the audit evidence we have obtained is sucient
and appropriate to provide a basis for our audit opinion.
Opinions
In our opinion, the annual accounts have been prepared in accordance
with the Annual Accounts Act and present fairly, in all material
respects, the nancial position of the parent company as of  Decem-
ber  and of its nancial performance and its cash ows for the year
then ended in accordance with the Annual Accounts Act, and the con-
solidated accounts have been prepared in accordance with the Annual
Accounts Act and present fairly, in all material respects, the nancial
position of the group as of  December  and of their nancial per-
formance and cash ows in accordance with International Financial
Reporting Standards, as adopted by the EU, and the Annual Accounts
Act. e statutory administration report is consistent with the other
parts of the annual accounts and consolidated accounts.
We therefore recommend that the annual meeting of shareholders
adopt the income statement and balance sheet for the parent com-
pany and the group.
Other matters
e annual accounts and consolidated accounts for were audited
by other auditors who, in their audit report dated  February ,
expressed an unmodied opinion on those annual accounts and con-
solidated accounts.
Report on other legal and regulatory requirements
In addition to our audit of the annual accounts and consolidated
accounts, we have examined the proposed appropriations of the
company’s prot or loss and the administration of the Board of
Directors and the Managing Director of ABC AB for the year .
Responsibilities of the Board of Directors and the Managing Director
e Board of Directors is responsible for the proposal for appropria-
tions of the company’s prot or loss, and the Board of Directors and
the Managing Director are responsible for administration under the
Companies Act.
Auditor’s responsibility
Our responsibility is to express an opinion with reasonable assurance
on the proposed appropriations of the company’s prot and on the
administration based on our audit. We conducted the audit in
accordance with generally accepted auditing standards in Sweden.
As a basis for our opinion on the Board of Directors’ proposed
appropriations of the company’s prot or loss, we examined the
Board of Directors’ reasoned statement and a selection of supporting
evidence in order to be able to assess whether the proposal is in
accordance with the Companies Act.
As a basis for our opinion concerning discharge from liability, in
addition to our audit of the annual accounts and consolidated
accounts, we examined signicant decisions, actions taken and cir-
cumstances of the company in order to determine whether any
member of the Board of Directors or the Managing Director is liable
to the company. We also examined whether any member of the
Board of Directors or the Managing Director has, in any other way,
acted in contravention of the Companies Act, the Annual Accounts
Act or the Articles of Association.
We believe that the audit evidence we have obtained is sucient
and appropriate to provide a basis for our opinion.
Opinions
We recommend to the annual meeting of shareholders that the prot be
appropriated in accordance with the proposal in the statutory adminis-
tration report and that the members of the Board of Directors and the
Managing Director be discharged from liability for the nancial year.
Stockholm 24 February 2012
PricewaterhouseCoopers AB
Håkan Malmström
Authorised Public Accountant
AUDIT REPORT
To the annual meeting of the shareholders of Saab AB, corporate identity number 556036-0793
SAAB ANNUAL REPORT 2011 133
FINANCIAL INFORMATION > AUDIT REPORT