TomTom 2011 Annual Report Download - page 81

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79
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying fi nancial statements 2011 of TomTom NV, Amsterdam. The fi nancial statements include the
consolidated fi nancial statements and the company fi nancial statements. The consolidated fi nancial statements comprise the consolidated
balance sheet as at December 31, 2011, consolidated statement of income, consolidated statement of comprehensive income,
consolidated statement of changes in equity and consolidated statement of cash fl ows for the year then ended, and notes, comprising
a summary of the signifi cant accounting policies and other explanatory information. The company fi nancial statements comprise the
company balance sheet as at December 31, 2011, the company profi t and loss account for the year then ended and the notes, comprising
a summary of the accounting policies and other explanatory information.
Management’s responsibility
Management is responsible for the preparation and fair presentation of these fi nancial statements 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
management board report in accordance with Part 9 of Book 2 of the Dutch Civil Code. Furthermore management is responsible for such
internal control as it determines is necessary to enable the preparation of the fi nancial statements that are free from material misstatement,
whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these fi nancial statements based on our audit. We conducted our audit in accordance with
Dutch law, including the Dutch Standards on Auditing. This requires that we comply with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether the fi nancial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial statements. The
procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancial
statements, 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
fi nancial 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 fi nancial
statements.
We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion.
Opinion with respect to the consolidated fi nancial statements
In our opinion, the consolidated fi nancial statements give a true and fair view of the fi nancial position of TomTom NV as at December 31,
2011, its result and its cash fl ows 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 company fi nancial statements
In our opinion, the company fi nancial statements give a true and fair view of the fi nancial position of TomTom NV as at December 31, 2011
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 AND REGULATORY REQUIREMENTS
Pursuant to the legal requirement under Section 2:393 sub 5 at e and f of the Dutch Civil Code, we have no defi ciencies to report as a
result of our examination whether the management board report, to the extent we can assess, has been prepared in accordance with Part
9 of Book 2 of this Code, and whether the information as required under Section 2:392 sub 1 at b-h has been annexed. Further we report
that the management board report, to the extent we can assess, is consistent with the fi nancial statements as required by Section 2:391
sub 4 of the Dutch Civil Code.
Amsterdam, 28 February 2012
Deloitte Accountants BV
Signed by: B.E. Savert
Independent Auditor’s Report
To the Shareholders and Supervisory Board of TomTom NV