Adidas 1999 Annual Report Download - page 81

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77
Auditors’ Report
To the Executive Board and the Supervisory Board
adidas-Salomon AG
Herzogenaurach, Germany
We have audited the accompanying consolidated balance sheets of adidas-Salomon AG
and subsidiaries (the “ Company” ) as at December 31, 1999 and 1998, and the related
consolidated statements of income and cash flows for each of the years ended Decem-
ber 31, 1999 and 1998. These financial statements are the responsibility of the
Company’s management. Our responsibility is to express an opinion on these financial
statements based on our audit.
We conducted our audit in accordance with International Standards on Auditing. Those
standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatements. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the consolidated financial position of adidas-Salomon AG and subsidiaries as
at December 31, 1999 and 1998, and the related consolidated results of its operations
and its cash flows for each of the years ended December 31, 1999 and 1998 in
accordance with International Accounting Standards.
Frankfurt am Main, February 18, 2000
KPMG Deutsche Treuhand-Gesellschaft
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft
Dieter Kuhn Dr. Bert Böttcher
Wirtschaftsprüfer Wirtschaftsprüfer
AUDITORS’ REPORT