AUDITOR 'S
OPINI ON
AUDITOR’S OPINION
To the Shareholders and Supervisory Board of ELEKTROBUDOWA SA We have audited the attached financial statements of ELEKTROBUDOWA SA with its registered office in Katowice, ul. Porcelanowa 12, including: −
statement of financial position prepared as of 31 December 2009, with total assets and liabilities plus equity of PLN 468,327 thousand;
−
statement of comprehensive income for the period from 1 January to 31 December 2009, disclosing a net profit of PLN 58,413 thousand and a total comprehensive income of PLN 59,096 thousand;
−
statement of changes in equity for the period from 1 January to 31 December 2009, disclosing an increase in equity of PLN 44,833 thousand;
−
statement of cash flows for the period from 1 January to 31 December 2009, showing a cash inflow of PLN 32,633 thousand;
−
notes, including information on the adopted accounting policy and other explanatory notes.
Preparation of these financial statements is the responsibility of the Management Board of the Company. Our responsibility was to audit and express an opinion on the fairness, correctness and clarity of these financial statements and the correctness of the underlying accounting records. The financial statements of the Company for the financial year ended 31 December 2008 were audited by another certified auditor, who on 23 March 2009 issued an unqualified opinion on these financial statements. Our opinion is limited to the financial statements for the financial year ended 31 December 2009. Our audit was planned and performed in accordance with: −
section 7 of the Accounting Act of 29 September 1994 (Dz. U. of 2009 No. 152, item 1223 with subsequent amendments);
−
auditing standards issued by the National Council of Statutory Auditors in Poland;
in such a way as to obtain a reasonable and sufficient basis for expressing an opinion as to whether the financial statements were free of material misstatements. Our audit included in particular examining, largely on a test basis, the accounting evidence and records supporting the amounts and disclosures in the financial statements, assessment of the accounting principles (policy) applied and material estimates made by the Management Board, as well as evaluation of the overall presentation of the financial statements.
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