Ubisoft 2003 Annual Report Download - page 92

FINANCIAL REPORT
2004
92
3.1
Report on the consolidated account statements
for the fiscal year ending March 31, 2004
Ladies and Gentlemen:
Pursuant to the assignment vested in us by your General Meeting, we have audited the consolidated accounts of Ubisoft
Entertainment SA for the fiscal year ending March 31, 2004, as appended to this report.
The annual accounts have been prepared by the Board of Directors. It is our task to express an opinion on these accounts on
the basis of our audit.
I - Opinion regarding the consolidated accounts
We conducted our audit in accordance with accepted professional standards in France. These standards require due diligence
in order to ascertain with reasonable certainty that the consolidated accounts contain no material anomalies. An audit consists
of the examination, on a sampling basis, of evidence relevant to the amounts and disclosures made in the financial statements.
It also involves an assessment of the accounting principles applied, the significant estimates made in the preparation of the
financial statements and their overall presentation. It is our view that the audit we have carried out forms a true and fair basis
for the opinion expressed below.
We hereby certify that, from the standpoint of accounting rules and principles in France, the financial statements give a true
and fair view of the results obtained for the period in question and of the financial situation and assets of the consolidated
corporate entity at the end of the accounting period.
II - Basis for assessment
Pursuant to the provisions of Article L. 225-235 of the French Commercial Code relating to the basis for our assessments, as
established in the Law on Financial Security of August 1, 2003 and applicable to this fiscal year for the first time, we bring the
following items to your attention:
Goodwill and brands
The note relating to “Goodwill/trademarks and patents” in the section of the explanatory notes titled “Accounting principles”
describes the amortization procedures used for goodwill as well as trademarks and patents posted to assets in the balance
sheet.
Our task was to evaluate the data and premises on which these estimates were based and to review the calculations performed
by the company.
As part of our assessment, we verified that these estimates could be considered reasonable.
Commercial software and advances paid
The notes relating to “Commercial software” and “Advances and installments paid” in the section titled “Accounting principles”
describes the procedures used to record additional amortization at the close of the fiscal year.
Our task was to evaluate the data and premises on which these estimates were based and to review the calculations performed
by the company.
As part of our assessment, we verified that these estimates could be considered reasonable.
Our evaluations were conducted within the context of our audit of the consolidated accounts as a whole and in part, and
provided a basis for the unqualified opinion that we expressed in the initial portion of this report.
3. Declaration by
the statutory auditors