Cemex 2012 Annual Report Download - page 37

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37
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The Board of Directors and Stockholders
CEMEX, S.A.B. de C.V.:
We have audited the accompanying consolidated financial
statements of CEMEX, S.A.B. de C.V. and subsidiaries
(“the Company”), which comprise the consolidated
balance sheets as at December 31, 2012 and 2011, the
consolidated statements of operations, comprehensive
loss, changes in stockholders’ equity, and cash flows for
the years ended December 31, 2012, 2011 and 2010,
and notes, comprising a summary of significant accounting
policies and other explanatory information.
Management’s Responsibility for the Consolidated
Financial Statements
Management is responsible for the preparation and fair
presentation of these consolidated financial statements
in accordance with International Financial Reporting
Standards, and for such internal control as management
determines is necessary to enable the preparation of
consolidated financial statements that are free from
material misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these
consolidated financial statements based on our audits.
We conducted our audits in accordance with International
Standards on Auditing. Those standards require that we
comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether
the consolidated financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit
evidence about the amounts and disclosures in the
consolidated financial statements. The procedures selected
depend on our judgment, including the assessment of the
risks of material misstatement of the consolidated financial
statements, whether due to fraud or error. In making those
risk assessments, we consider internal control relevant
Independent
auditors’
report to the entity’s preparation and fair presentation of the
consolidated financial statements in order to design audit
procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the
effectiveness of the entity’s internal control. An audit also
includes evaluating the appropriateness of accounting
policies used and the reasonableness of accounting
estimates made by management, as well as evaluating
the overall presentation of the consolidated financial
statements.
We believe that the audit evidence we have obtained is
sucient and appropriate to provide a basis for our audit
opinion.
Opinion
In our opinion, the consolidated financial statements
present fairly, in all material respects, the consolidated
financial position of CEMEX, S.A.B. de C.V. and subsidiaries
as at December 31, 2012 and 2011, and their consolidated
financial performance and their consolidated cash flows for
the years ended December 31, 2012, 2011 and 2010,
in accordance with International Financial Reporting
Standards.
KPMG Cárdenas Dosal, S.C.
Celin Zorrilla Rizo
Monterrey, N.L., Mexico
February 1st, 2013