Atari 2009 Annual Report Download - page 116

ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
116
STATUTORY AUDITORS' REPORT ON THE CONSOL ID ATED FIN ANCIAL STATEMENTS
Year ended March 31, 2009
This is a free translation into English of the Statutory Auditors‟ report issued in French and is provided solely for the convenience of
English speaking readers. The Statutory Auditors‟ report includes information specifically required by French law in such reports,
whether qualified or not. This information is presented below the opinion on the consolidated financial statements and includes an
explanatory paragraph discussing the auditors‟ assessments of certain significant accounting and auditing matters. These assessments
were considered for the purpose of issuing an audit opinion on the consolidated financial statements taken as a whole and not to
provide separate assurance on individual account captions or on information taken outside of the consolidated financial statements.
This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards
applicable in France.
To the Shareholders,
In compliance with the assignment entrusted to us by your Shareholders‟ Meeting, we hereby report to you, for the year
ended March 31, 2009, on:
 the audit of the accompanying consolidated financial statements of Atari (formerly Infogrames Entertainment);
 the justification of our assessments;
 the specific verification required by law.
The consolidated financial statements have been approved by the Board of Directors. Our role is to express an opinion
on these financial statements based on our audit.
I. OPINION ON THE CONSOLIDATED FINANCIAL STATEMENTS
We conducted our audit in accordance with professional standards applicable in France. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are
free of material misstatement. An audit involves performing procedures, on a test basis or by selection, to obtain audit
evidence about the amounts and disclosures in the consolidated financial statements. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management,
as well as the overall presentation of the consolidated financial statements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit opinion.
In our opinion, the consolidated financial statements give a true and fair view of the assets, liabilities and financial
position of the consolidated group of companies at March 31, 2009, and of the results of its operations for the year then
ended in accordance with IFRS as adopted for use in the European Union.
Without qualifying the opinion expressed above, we draw your attention to Note 2.1 to the consolidated financial
statements, which describes the assumptions used in relation to the going concern principle and expresses a degree of
uncertainty as to the Company‟s status as a going concern.
II. JUSTIFICATION OF OUR ASSESSMENTS
The accounting estimates used to prepare the consolidated financial statements at March 31, 2009 were performed
against a backdrop of extreme market volatility and a lack of visibility over the economic outlook. These conditions are
described in Note 2.7 to the consolidated financial statements. In this context, and in accordance with the requirements
of Article L.823-9 of the French Commercial Code (Code de commerce) relating to the justification of our assessments,
we bring to your attention the following matters:
Going concern assumption
As indicated in the first part of this report, Note 2.1 to the consolidated financial statements describes the assumptions
used in relation to the going concern principle and expresses a degree of uncertainty as to the Company‟s status as a
going concern.
As part of our review of the general presentation of the financial statements, and based on the information provided to us
to date, we have assessed the pertinence of the information contained in the note on the Group‟s financial position and
recent changes therein, as well as the uncertainty regarding the going concern assumption.
Measurement of goodwill and intangible assets
The Company tests goodwill and intangible assets with an indefinite useful life for impairment in the manner described in
Note 2.12 to the consolidated financial statements. The inputs used in these tests and the results thereof are described
in Note 3.3 to the consolidated financial statements.
We have examined the methods used as well as the projected cash flows and inputs, and verified that Notes 2.12 and
3.3 to the consolidated financial statements provide appropriate disclosures.
These assessments were made in the context of our audit of the consolidated financial statements taken as a whole, and
therefore contributed to the opinion we formed which is expressed in the first part of this report.