Volvo 2007 Annual Report Download - page 152
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Please find page 152 of the 2007 Volvo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report. 148 Financial information 2007
Audit 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 2007. The annual accounts
and the consolidated accounts of the Company is included on pages
16–17, 30–71 and 82–147 of the printed version of this document. The
Board of Directors and the President are responsible for these
accounts and the administration of the Company as well as for the
application of the Annual Accounts Act when preparing the annual
accounts and the application of international fi nancial reporting
standards IFRSs as adopted by the EU and the Annual Accounts Act
when preparing the consolidated accounts. Our responsibility is to
express an opinion on the annual accounts, the consolidated 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 misstate-
ment. An audit includes examining, on a test basis, evidence support-
ing the amounts and disclosures in the accounts. An audit also
includes assessing the accounting principles used and their applica-
tion by the Board of Directors and the President, and signifi cant esti-
mates made by the Board of Directors and the President when pre-
paring the annual accounts and consolidated accounts, as well as
evaluating the overall presentation of information in the annual
accounts and consolidated accounts. As a basis for our opinion con-
cerning discharge from liability, we examined signifi cant decisions,
actions taken and circumstances of the Company in order to be able
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 Com-
panies 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 pre-
pared in accordance with the Annual Accounts Act and give a true and
fair view of the Company’s fi nancial position and results of operations
in accordance with generally accepted accounting principles in Swe-
den. The consolidated accounts have been prepared in accordance
with international fi nancial reporting standards IFRS as adopted by
the EU and the Annual Accounts Act and give a true and fair view of
the Group’s fi nancial position and results of operations. The Board of
Directors’ Report is consistent with the other parts of the annual
accounts and the consolidated accounts.
We recommend to the annual general meeting of shareholders that
the income statements and balance sheets of the Parent Company
and the Group be adopted, that the profi t of the Parent Company be
dealt with in accordance with the proposal in the Board of Directors’
Report, and that the members of the Board of Directors and the Pres-
ident be discharged from liability for the fi nancial year.
Göteborg, February 26, 2008
PricewaterhouseCoopers AB
Göran Tidström Olov Karlsson
Authorized Public Accountant Authorized Public Accountant
Lead Partner Partner