Ubisoft 2005 Annual Report Download - page 119

4
117
UBISOFT • 2006 ANNUAL REPORT
FINANCIER
Declaration by the statutory auditors
Report on the consolidated account statements
for the fiscal year ending March 31, 2006
4.1
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, 2006, 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. These financial statements were prepared for the first time in accordance with the International
Financial reporting standards (IFRS) as provided by European Union. As a comparison, they include data about 2005 fiscal
year restated with the same rules.
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 prepa-
ration 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 IFRS standards as provided by European Union, 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 conso-
lidated persons and entities at the end of the accounting period.
II. Basis for assessment
Pursuant to the provisions of Article L.823-9 of France’s Commercial Code regarding the basis for an assessment, we call
your attention to the following items:
Commercial software
As part of our assessment of accounting principles applied by your company, we have examined the procedures of the assets
recording for the commercial software and their depreciation, and for the checking of the recoverable value and we have
ascertained that the note “commercial software” included in the section “principles of consolidation” has provided an appro-
priate information.
Goodwill and trademarks impairment tests
At each balance sheet date, goodwill and assets with indefinite useful life are systematically subject to annual impairment
tests and long term assets are also evaluated if there is an indicator of impairment, according to the described procedures
in the notes “Goodwill” and “Brands” included in the section “principles of consolidation”. We verified the procedures of
the implementation of this impairment test and the estimate of the future cash flows and used hypotheses and we verified
that the above notes have provided an appropriate information.
Our evaluations were conducted within the context of our audit of the consolidated accounts as a whole and in part, and pro-
vided a basis for the opinion that we expressed in the initial portion of this report.
III. Specific audit
We have also verified, in accordance with accepted professional standards in France the information on the group given in
the management report. We have no criticism to make regarding the accuracy of this information and its consistency with
the consolidated accounts.
Rennes, September 1st 2006
By the statutory auditors
KPMG Audit SARL Audit AMLD
A division of KPMG S.A.
Laurent Prévost André Métayer
Partner Partner