Suzuki 2003 Annual Report Download - page 42

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SUZUKI MOTOR CORPORATION
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Directors and Shareholders of
Suzuki Motor Corporation
We have audited the accompanying consolidated balance sheets of Suzuki Motor Corporation and
its subsidiaries as of March 31, 2003 and 2002, and the related consolidated statements of income,
shareholders' equity, and cash flows for the years then ended, all expressed in Japanese Yen. These
consolidated 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 audits.
We conducted our audits in accordance with auditing standards generally accepted in Japan. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether
the consolidated financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the consolidated financial
statements. An audit also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall consolidated financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material
respects, the consolidated financial position of Suzuki Motor Corporation and its subsidiaries as of
March 31, 2003 and 2002, and the consolidated results of their operations and their cash flows for the
years then ended in conformity with accounting principles and practices generally accepted in Japan.
As described in Note 2, effective from the year ended March 31, 2003, Suzuki Motor Corporation and
its subsidiaries changed their accounting policy for accrued retirement & severance benefits.
The amounts expressed in U.S. dollars, which are provided solely for the convenience of the reader,
have been translated on the basis set forth in Note 1 to the accompanying consolidated financial
statements.
Seimei Audit Corporation
Tokyo, Japan
June 27, 2003
42