Samsung 2012 Annual Report Download - page 24

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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, 2012, December 31, 2011, and January 1,
2011, the related consolidated statements of income,
comprehensive income, changes in equity and cash flow
for the years ended December 31, 2012 and 2011, and the
related notes. These nancial statements are the responsibility
of the Company’s management. Our responsibility is to
express an opinion on these consolidated nancial statements
based on our audit. We did not audit the nancial statements
of certain subsidiaries, whose nancial statements represents
7.2% and 7.6% of the consolidated total assets as of December
31, 2012 and 2011, respectively, and 22.1% and 20.4% 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 to us, and our
opinion expressed herein, insofar as it relates 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.
In our opinion, based on our audits, the consolidated nancial
statements referred to above present fairly, in all material
respects, the nancial position of Samsung Electronics Co., Ltd.
and its subsidiaries as of December 31, 2012, December 31,
2011, and January 1, 2011, and their financial performance
and cash flows for the years ended December 31, 2012 and
2011, in accordance with International Financial Reporting
Standards as adopted by the Republic of Korea.
Samil PricewaterhouseCoopers
Seoul, Korea
February 1, 2013
Report of Independent
Auditors
This report is eective as of February 1, 2013, 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 nancial 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 reect the impact of such subsequent events or
circumstances, if any.
FINANCIAL STATEMENTS
To the Board of Directors and
Shareholders of
Samsung Electronics Co., Ltd.
4544