Food Lion 2008 Annual Report Download - page 124
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Please find page 124 of the 2008 Food Lion annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Report of the Statutory Auditor
On the consolidated financial statements for the year ended 31 December 2008
presented to the ordinary general meeting of Delhaize brothers and co “The Lion”
(Delhaize Group) SA
To the shareholders
As required by law and the company’s articles of association, we are pleased to report to you on the audit assignment which you have entrusted to us. This
report includes our opinion on the consolidated financial statements together with the required additional comment.
Unqualified audit opinion on the consolidated financial statements
We have audited the accompanying consolidated financial statements of Delhaize Brothers and Co ‘The Lion” (Delhaize Group) SA (“the company”) and its sub-
sidiaries (jointly “the group”), prepared in accordance with International Financial Reporting Standards as adopted by the European Union and with the legal and
regulatory requirements applicable in Belgium. Those consolidated financial statements comprise the consolidated balance sheet as at 31 December 2008, the
consolidated income statement, the consolidated statement of recognized income and expense and the consolidated statement of cash flows for the year then
ended, as well as the summary of significant accounting policies and other explanatory notes. The consolidated balance sheet shows total assets of EUR 9.700
Million and a consolidated profit (group share) for the year then ended of EUR 467 Million.
The board of directors of the company is responsible for the preparation of the consolidated financial statements. This responsibility includes among other things:
designing, implementing and maintaining internal control relevant to the preparation and fair presentation of consolidated financial statements that are free
from material misstatement, whether due to fraud or error, selecting and applying appropriate accounting policies, and making accounting estimates that are
reasonable in the circumstances.
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with legal
requirements and auditing standards applicable in Belgium, as issued by the “Institut des Reviseurs d’Entreprises/Instituut der Bedrijfsrevisoren”. Those standards
require that we plan and perform the audit to obtain reasonable assurance whether the consolidated financial statements are free from material misstate-
ment.
In accordance with these standards, we have performed 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 have considered internal control relevant to the group’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 group’s internal control. We have assessed the basis of the accounting policies used, the reasonableness of
accounting estimates made by the company and the presentation of the consolidated financial statements, taken as a whole. Finally, the board of directors and
responsible officers of the company have replied to all our requests for explanations and information. We believe that the audit evidence we have obtained
provides a reasonable basis for our opinion.
In our opinion, the consolidated financial statements give a true and fair view of the group’s financial position as of 31 December 2008, and of its results and
its cash flows for the year then ended, in accordance with International Financial Reporting Standards as adopted by the EU and with the legal and regulatory
requirements applicable in Belgium.
Additional comment
The preparation and the assessment of the information that should be included in the directors’ report on the consolidated financial statements are the respon-
sibility of the board of directors.
Our responsibility is to include in our report the following additional comment which does not change the scope of our audit opinion on the consolidated financial
statements:
The directors’ report on the consolidated financial statements includes the information required by law and is in agreement with the consolidated financial
statements. However, we are unable to express an opinion on the description of the principal risks and uncertainties confronting the group, or on the status,
future evolution, or significant influence of certain factors on its future development. We can, nevertheless, confirm that the information given is not in obvious
contradiction with any information obtained in the context of our appointment.
Diegem, 11 March 2009
The statutory auditor
DELOITTE Bedrijfsrevisoren / Reviseurs d’Entreprises
BV o.v.v.e. CVBA / SC s.f.d. SCRL
Represented by Philip Maeyaert
120 - Delhaize Group - Annual Report 2008
Consolidated
Balance Sheets
Consolidated
Income Statements
Consolidated Statements of
Recognized Income and Expense
Consolidated
Statements of Cash Flows
Notes to the
Financial Statements