Volvo 2002 Annual Report Download - page 81

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Auditors’ report for AB Volvo
We have audited the annual accounts, the consolidated accounts, the accounting records and the
administration of the Board of Directors and the President of AB Volvo for the year 2002. 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 accounts, the con-
solidated accounts 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 reasonable assurance that
the annual accounts and the consolidated accounts are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the
accounts. An audit also includes evaluating the accounting principles used and their application by
the Board of Directors and the President, as well as evaluating the overall presentation of informa-
tion in the annual accounts and consolidated accounts. As a basis for our opinion concerning dis-
charge from liability, we examined significant decisions, actions taken and circumstances of the
Company in order to determine the liability, if any, to the Company of any Board member, or the
President. We also examined whether any Board member or the President has, in any other way,
acted in contravention of the Companies Act, the Annual Accounts Act, or the Company’s Articles
of Association. We believe that our audit provides a reasonable basis for our opinion set out below.
The annual accounts and consolidated accounts have been prepared in accordance with the
Annual Accounts Act and, thereby, give a true and fair view of the Company’s and the Group’s
financial position and results of operations in accordance with generally accepted accounting prin-
ciples in Sweden.
We recommend to the general meeting of shareholders that the income statements and balance
sheets of the Parent Company and the Group be adopted, that the profit of the Parent Company
be dealt with in accordance with the proposal in the Board of Directors’ Report, and that the mem-
bers of the Board of Directors and the President be discharged from liability for the financial year.
Göteborg, February 6, 2003
Olof Herolf Olov Karlsson
Authorized Public Accountant Authorized Public Accountant
PricewaterhouseCoopers PricewaterhouseCoopers