Samsung 2005 Annual Report Download - page 67

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65
Audit Committee’s Audit Report
1. Method of Auditing
The committee reviewed the accounting records and other
related documents, and conducted thorough review of
financial statements. The committee has made necessary
collation, due diligence, and observance when appropriate.
The committee received and reviewed reports from the Chief
Financial Officer concerning operations and adequacy of
accounting procedures and systems put in place to ensure
fair and reliable presentation of accounting information and
disclosures.
The committee attended Board of Directors, management
committee and other important meetings, and when deemed
necessary received reports on the operations from directors.
The committee has reviewed reports on important business
issues and conducted thorough reviews on them.
2. Balance Sheet and Income Statements
Balance Sheets and Income Statements show the Company’s
financial status including assets, liabilities, profits and losses
in accordance with the generally accepted accounting
standards, applicable laws and regulations.
3. Appropriations of Retained Earnings
Appropriations of Retained Earnings reflect the financial
statements of the Company in accordance with the generally
accepted accounting standards, applicable laws and
regulations.
4. Business Report
Business Report reflects current financial status of the
Company in accordance with generally accepted accounting
standards, applicable laws and regulations.
The Audit Committee of Samsung Electronics Co., Ltd. reports the results of financial audit
from January 1, 2005 to December 31, 2005 for the 37th fiscal year.
January 31st, 2006
Samsung Electronics Co., Ltd.
THE AUDIT COMMITTEE
Sung-Lark Rim
(Chairman)
Jae-Sung Hwang
Kap-Hyun Lee