ING Direct 2008 Annual Report Download - page 247

Auditor’s report
2.3 Other information
To the Shareholders, the Supervisory Board and the Executive Board of ING Groep N.V.
REPORT ON THE ANNUAL ACCOUNTS
We have audited the annual accounts 2008 of ING Groep N.V., Amsterdam (as set out on pages 84 to 244). The annual accounts
consist of the consolidated annual accounts and the parent company annual accounts. The consolidated annual accounts comprise the
consolidated balance sheet as at 31 December 2008, the profit and loss account, statement of changes in equity and statement of cash
flows for the year then ended, and a summary of significant accounting policies and other explanatory notes. The parent company annual
accounts comprise the parent company balance sheet as at 31 December 2008, the parent company profit and loss account for the year
then ended and the notes.
Management’s responsibility
Management of the company is responsible for the preparation and fair presentation of the annual accounts in accordance with
International Financial Reporting Standards as adopted by the European Union and with Part 9 of Book 2 of the Dutch Civil Code, and
for the preparation of the report of the Executive Board in accordance with Part 9 of Book 2 of the Dutch Civil Code. This responsibility
includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the annual
accounts 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.
Auditor’s responsibility
Our responsibility is to express an opinion on the annual accounts based on our audit. We conducted our audit in accordance with Dutch
law and the standards of the Public Company Accounting Oversight Board (United States). This law and these standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the annual accounts are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the annual accounts. The
procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the annual
accounts, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s
preparation and fair presentation of the annual accounts in order to design audit procedures that are appropriate in the circumstances.
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 annual accounts.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion with respect to the consolidated annual accounts
In our opinion, the consolidated annual accounts give a true and fair view of the financial position of ING Groep N.V. as at 31 December
2008, and of its result and its cash flows for the year then ended in accordance with International Financial Reporting Standards as
adopted by the European Union and with Part 9 of Book 2 of the Dutch Civil Code.
Opinion with respect to the parent company annual accounts
In our opinion, the parent company annual accounts give a true and fair view of the financial position of ING Groep N.V. as at
31 December 2008, and of its result for the year then ended in accordance with Part 9 of Book 2 of the Dutch Civil Code.
REPORT ON OTHER LEGAL REQUIREMENTS
Pursuant to the legal requirement under 2:393 sub 5 part f of the Dutch Civil Code, we report, to the extent of our competence,
that the report of the Executive Board is consistent with the annual accounts as required by 2:391 sub 4 of the Dutch Civil Code.
Amsterdam, 16 March 2009
For Ernst & Young Accountants LLP
signed by C.B. Boogaart
245
ING Group Annual Report 2008