Ubisoft 2004 Annual Report Download - page 101

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UBISOFT > 2005 FINANCIAL REPORT
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DECLARATION BY THE STATUTORY AUDITORS
Ladies and Gentlemen:
Pursuant to the assignment vested in us by your General Meeting, we hereby present our report for the fiscal year ending
March 31, 2005, with regard to the following:
lthe audit of the annual accounts of Ubisoft Entertainment SA, as appended to this report;
lthe basis for our assessment;
lspecific verifications and information required by law.
The annual accounts have been prepared by the Board of Directors. It is our task to express an opinion on these accounts
on the basis of our audit.
I - Opinion regarding the annual accounts
We conducted our audit in accordance with accepted professional standards in France. These standards require due diligence
in order to ascertain with reasonable certainty that the annual accounts contain no material anomalies. An audit consists of
the examination, on a sampling basis, of evidence relevant to the amounts and disclosures made in the financial statements.
It also involves an assessment of the accounting principles applied, the significant estimates made in the preparation of the
financial statements and their overall presentation. It is our view that the audit we have carried out forms a true and fair
basis for the opinion expressed below.
We hereby certify that, from the standpoint of accounting rules and principles in France, the annual accounts give a true
and fair view of the results obtained for the periodin question and of the company's financial situation and assets at the end
of this accounting period.
Without compromising the foregoing opinion, we draw your attention to the information contained in the explanatory note
entitled "Comparability of accounts," relating to the modification in the development costs presentation billed by the
subsidiaries of Ubisoft Entertainment in the income statement of your firm.
II - Basis for assessment
Pursuant to the provisions of Article L. 225-235 of France's Commercial Coderegarding the basis for an assessment, we
call your attention to the following items:
Equity holdings
The note relating to “Financial assets” in the section of the explanatory notes titled “Accounting rules and methods” describes
the accounting principles for the valuation and depreciation of equity holdings.
As part of our assessment of the accounting rules and practices observed by your company, we have verified the appropriateness
of the accounting methods indicatedabove and of the information provided in the explanatory notes, and we have ascertained that
they are being applied correctly.
Commercial software and advances and installments paids
The notes relating to “Commercial software” and “Advances and installments paid” in the section titled “Accounting rules
and methods” describes the procedures used to record additional amortization at the close of the fiscal year.
Our task was to evaluate the data and premises on which these estimates were based and to review the calculations performed
by the company.
As part of our assessment, we verifiedthat these estimates could be considered reasonable.
Our evaluations were conducted within the context of our audit of the annual accounts as a whole and in part, and provided
abasis for the opinion that we expressed in the initial portion of this report.
General report on the fiscal year ending
March 31, 2005
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