Electrolux 1997 Annual Report Download - page 52

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48
Electrolux Annual Report 1997
Auditors’ report
In our opinion, the parent company and the consolidated financial
statements have been prepared in accordance with the Annual Accounts Act,
and, consequently we recommend
that the income statements and the balance sheets of the Parent Company
and the Group be adopted, and
that the profit of the Parent Company be dealt with in accordance with the
proposal in the Administration Report.
In our opinion, the Board members and the President have not committed
any act or been guilty of any omission which could give rise to any liability
to the Company. We therefore recommend
that the members of the Board of Directors and the President be discharged
from liability for the financial year.
Stockholm, March 10, 1998
Ernst & Young AB
GUNNAR WIDHAGEN
Authorized Public Accountant
To the Annual General Meeting of the shareholders
of AB Electrolux (Reg. no. 556009-4187)
We have audited the parent company and the consolidated financial
statements, the accounts and the administration of the Board of Directors
and the President of AB Electrolux for the 12-month period ending December,
1997. These accounts and the administration of the Company are the
responsibility of the Board of Directors and the President. O ur responsibility
is to express an opinion on the financial statements 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 financial statements are free of
material misstatement. 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 their application
by the Board of Directors and the President, as well as evaluating the overall
presentation of information in the financial statements. We examined
significant decisions, actions taken and circumstances of the Company in
order to be able to determine the possible liability to the Company of any
Board member or the President or whether they have in some 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.