Ubisoft 2005 Annual Report Download - page 120

General report
on the fiscal year ending March 31, 2006
4.2
Ladies and Gentlemen:
Pursuant to the assignment vested in us by your General Meeting, we hereby present our report for the fiscal year ending
March 31, 2005, with regard to the following:
• the audit of the annual accounts of Ubisoft Entertainment SA, as appended to this report;
• the basis for our assessment;
• specific verifications and information required by law.
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 annual 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 annual 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 annual accounts give a true
and fair view of the results obtained for the period in question and of the company’s financial situation and assets at the end
of this accounting period.
Without compromising the foregoing opinion on the accounting method changes appeared during the fiscal year pursuant
the regulation CRC Nr 2002-10 about depreciation and supplementary amortizing of assets, and the regulation CRC Nr
2004-06 about the definition, the recording and the valuation of assets, in accordance with procedures exposed in the sec-
tion of the explanatory notes “Accounting method changes”.
II. Basis for assessment
Pursuant to the provisions of Article L.225-235 of France’s Commercial Code regarding the basis for an assessment, we call
your attention to the following items:
Accounting method changes
As part of our assessment of the accounting rules and practices observed by your company, we have ascertained that the
change of the accounting methods which appeared during the fiscal year and described in the section of the explanatory
notes “Accounting method changes” are being valid, and also the presentation which were made.
Equity holdings
The note relating to “Financial assets” in the section of the explanatory notes titled “Accounting rules and methods”
describes the accounting principles for the valuation and depreciation of equity holdings.
As part of our assessment of the accounting rules and practices observed by your company, we have verified the appropria-
teness of the accounting methods indicated above and of the information provided in the explanatory notes, and we have
ascertained that they are being applied correctly.
Commercial software
The notes relating to “Commercial software” and “Advances and installments paid” in the section titled “Accounting rules
and methods” describes the procedures used to record supplementary 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 perfor-
med 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 annual accounts as a whole and in part, and provided
a basis for the opinion that we expressed in the initial portion of this report.