Volvo 1997 Annual Report Download - page 70

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68
We have audited the Annual Report and the consolidated
financial statements, the accounts and the administration of
the Board of Directors and the President of AB Volvo for
1997. These accounts and the administration of the Company
are the responsibility of the Board of Directors and the
President. Our responsibility is to express an opinion on the
Annual Report, the consolidated financial statements and the
administration based on our audit.
We conducted our audit in accordance with Generally
Accepted Auditing Standards in Sweden. Those Standards
require that we plan and perform the audit to obtain reasona-
ble assurance about whether the Annual Report and the con-
solidated financial statements are free of material misstate-
ment. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial state-
ments. An audit also includes assessing the accounting princi-
ples used and their application by the Board of Directors and
the President, as well as evaluating the overall presentation of
information in the Annual Report and the consolidated finan-
cial statements. We examined significant decisions, actions
taken and circumstances of the Company in order to be able
to determine the possible liability to the Company of any
member of the Board of Directors or the President or whether
they have in some other way acted in contravention of the
Companies Act, the Annual Accounts Act or the Articles of
Association. We believe that our audit provides a reasonable
basis for our opinion set out below.
In our opinion, the Annual Report and the consolidated
financial statements have been prepared in accordance with
the Annual Accounts Act, and, consequently we recommend
that the income statements and the balance sheets of the
Parent Company and the Group be adopted, and
that the earnings of the Parent Company be appropriated in
accordance with the proposal in the Board of Directors’
Report.
In our opinion, the members of the Board of Directors and
the President have not committed any act or been guilty
of any negligence, which could give rise to any liability to
the Company. We therefore recommend
that the members of the Board of Directors and the President
be discharged from liability for the financial year.
February 19, 1998
Ragne Billing
Authorized Public Accountant Nils Brehmer
Authorized Public Accountant
Auditors’ Report for AB Volvo