Volvo 2009 Annual Report Download - page 134

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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 2009. The company’s
annual accounts and the consolidated accounts are included in the
printed version on pages 20–55 and 66–129. Board of Directors and
the President are responsible for these accounts and the administra-
tion of the company as well as for the application of the Annual
Accounts Act when preparing the annual accounts and the applica-
tion of international financial 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 application
by the Board of Directors and the President and significant estimates
made by the Board of Directors and the President when preparing the
annual accounts and consolidated accounts as well as evaluating the
overall presentation of information in the annual accounts and the
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 be able to determine
the liability, if any, to the company of any board member or the Presi-
dent. 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 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
financial 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 finan-
cial reporting standards IFRSs as adopted by the EU and the Annual
Accounts Act and give a true and fair view of the group’s financial
position and results of operations. The statutory administration report
is consistent with the other parts of the annual accounts and the
consolidated accounts.
We recommend to the annual 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 administration report and
that the members of the Board of Directors and the President be
discharged from liability for the financial year.
Göteborg, February 26, 2010
PricewaterhouseCoopers AB
Göran Tidström
Authorized Public Accountant
Lead Partner
Olov Karlsson
Authorized Public Accountant
Partner
FINANCIAL INFORMATION 2009
130