Electrolux 2012 Annual Report Download - page 74

AB Electrolux (publ)
Corporate identity number 556009-4178
Report on the annual accounts and consolidated accounts
We have audited the annual accounts and consolidated accounts
of AB Electrolux for the year 2012. The annual accounts and con-
solidated accounts of the company are included in the printed
version of this document on pages 5–71.
Responsibilities of the Board of Directors and the President
for the annual accounts and consolidated accounts
The Board of Directors and the President are responsible for the
preparation and fair presentation of these annual accounts and
consolidated accounts in accordance with International Financial
Reporting Standards, as adopted by the EU, and the Annual
Accounts Act, and for such internal control as the Board of Direc-
tors and the President determine is necessary to enable the prep-
aration of annual accounts and consolidated accounts that are
free from material misstatement, whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these annual
accounts and consolidated accounts based on our audit. We
conducted our audit in accordance with International Standards
on Auditing and generally accepted auditing standards in
Sweden. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reason-
able assurance about whether the annual accounts and consoli-
dated accounts are free from material misstatement.
An audit involves performing procedures to obtain audit evi-
dence about the amounts and disclosures in the annual
accounts and consolidated accounts. The procedures selected
depend on the auditor’s judgment, including the assessment of
the risks of material misstatement of the annual accounts and
consolidated accounts, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control
relevant to the company’s preparation and fair presentation of
the annual accounts and consolidated accounts in order to
design audit procedures that are appropriate in the circum-
stances, but not for the purpose of expressing an opinion on the
effectiveness of the company’s internal control. An audit also
Auditor’s report
includes evaluating the appropriateness of accounting policies
used and the reasonableness of accounting estimates made by
the Board of Directors and the President, as well as evaluating
the overall presentation of the annual accounts and consoli-
dated accounts.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinions
In our opinion, the annual accounts have been prepared in accor-
dance with the Annual Accounts Act and present fairly, in all
material respects, the financial position of the parent company as
of December 31, 2012, and of its financial performance and its
cash flows for the year then ended in accordance with the Annual
Accounts Act. The consolidated accounts have been prepared in
accordance with the Annual Accounts Act and present fairly, in all
material respects, the financial position of the Group as of
December 31, 2012, and of their financial performance and cash
flows for the year then ended in accordance with International
Financial Reporting Standards, as adopted by the EU, and the
Annual Accounts Act. The statutory administration report is con-
sistent with the other parts of the annual accounts and consoli-
dated accounts.
We therefore recommend that the annual meeting of sharehold-
ers adopt the income statement and balance sheet for the Parent
Company and the Group.
Report on other legal and regulatory requirements
In addition to our audit of the annual accounts and consolidated
accounts, we have also audited the proposed appropriations of the
company’s profit or loss and the administration of the Board of
Directors and the President of AB Electrolux for the year 2012.
Responsibilities of the Board of Directors and the President
The Board of Directors is responsible for the proposal for appro-
priations of the company’s profit or loss, and the Board of Directors
and the President are responsible for administration under the
Companies Act.
To the annual meeting of the shareholders of
annual report 2012 auditor’s report
72