Volvo 2008 Annual Report Download - page 146

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142 Financial information 2008
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 2008. The annual accounts
and the consolidated accounts of the Company is included on pages
24–63 and 74–141 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 administra-
tion, 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 have been prepared 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 gener-
ally accepted accounting principles in Sweden. The consolidated
accounts have been prepared in accordance with international fi nan-
cial 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 con-
solidated 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 Presi-
dent be discharged from liability for the fi nancial year.
Göteborg, March 4, 2009
PricewaterhouseCoopers AB
Göran Tidström
Authorized Public Accountant
Lead Partner
Olov Karlsson
Authorized Public Accountant
Partner