Samsung 2010 Annual Report Download - page 16

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28 29
REPORT OF INDEPENDENT AUDITORS
In our opinion, based on our audits, the consolidated financial statements referred to above
present fairly, in all material respects, the financial position of Samsung Electronics Co., Ltd. and
its subsidiaries as of December 31, 2010, December 31, 2009, and January 1, 2009, and of their
financial performance and their cash flows for the years ended December 31, 2010 and 2009,
in accordance with International Financial Reporting Standards as adopted by the Republic of
Korea.
Seoul, Korea
March 2, 2011
TO THE BOARD OF DIRECTORS AND SHAREHOLDERS OF
SAMSUNG ELECTRONICS CO., LTD.
We have audited the accompanying consolidated financial statements of Samsung Electronics
Co., Ltd. and its subsidiaries (collectively referred to as the “Company”), which comprise the
consolidated statements of financial position as of December 31, 2010, December 31, 2009,
and January 1, 2009, the related consolidated statements of income, comprehensive income,
changes in equity and cash flow for the years ended December 31, 2010 and 2009, and the
related notes. These financial statements are the responsibility of the Company’s management.
Our responsibility is to express an opinion on these consolidated financial statements based
on our audit. We did not audit the financial statements of certain subsidiaries, whose financial
statements represents 9.2% and 10.0% of the consolidated total assets as of December 31,
2010 and 2009, respectively, and 23.2% and 24.8% of the consolidated total sales for the year
then ended, respectively. Those financial statements were audited by other auditors whose
reports thereon have been furnished us, and our opinion expressed herein, insofar as it related to
the amounts included for those subsidiaries, is based solely on the reports of the other auditors.
We conducted our audits in accordance with auditing standards generally accepted in the
Republic of Korea. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits and the reports of the other auditors provide a
reasonable basis for our opinion.
REPORT OF INDEPENDENT AUDITORS
This report is effective as of March 2, 2011, the audit report date. Certain subsequent events or circumstances, which may occur between the
audit report date and the time of reading this report, could have a material impact on the accompanying consolidated financial statements and
notes thereto. Accordingly, the readers of the audit report should understand that there is a possibility that the above audit report may have to
be revised to reflect the impact of such subsequent events or circumstances, if any.
www.samil.com
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Yongsan-gu, Seoul 140-702, Korea
(Yongsan P.O Box 266, 140-600)