APC 2006 Annual Report Download - page 96
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Business review
6. Auditors’ report on profit forecasts
To the Chairman of the Management Board,
In our capacity as Statutory Auditors of Schneider
Electric SA, and as required by regulation 809/2004/EC,
we present below our report on the profit forecasts for
Schneider Electric SA included in section 11.4 of the
Offering Memorandum dated March 7, 2007.
These forecasts and the principal assumptions on
which they are based were prepared under your super-
vision in accordance with regulation 809/2004/EC and
recommendations concerning forecasts issued by the
Committee of European Securities Regulators
(CESR).
It is our responsibility to report our conclusions on the
manner in which the forecasts were compiled, as
required by regulation 809/2004/EC, Annex I, Point
13.2.
We performed our work in accordance with profession-
al standards in France. Our review consisted of evalu-
ating the procedures implemented by Management to
prepare the forecasts and examining evidence demon-
strating that the basis of accounting used for the fore-
casts was consistent with the accounting policies used
to prepare Schneider Electric SA’s historical financial
information. We also interviewed members of Schnei-
der Electric SA’s senior management to obtain the
information and explanations we deemed necessary to
have reasonable assurance that the forecasts were
properly compiled on the basis of the stated assump-
tions.
Because forecasts are subject to various uncertainties
that could cause actual results to differ materially, we
have no conclusion to express about the likelihood that
these forecasts will be fulfilled.
In our opinion:
The forecasts have been properly compiled on the
stated basis.
The basis of accounting used for the profit forecast is
compatible with the accounting policies of Schneider
Electric SA.
This report is issued solely in connection with the offer-
ing made to the public in France and other countries of
the European Union in which the prospectus approved
by Autorité des Marchés Financiers (AMF) may be dis-
tributed.
Courbevoie and Neuilly-sur-Seine, March 5, 2007
The Statutory Auditors
Mazars & Guérard Ernst & Young et Autres
Pierre Sardet Christian Chochon
Jean-Louis Simon Pierre Jouanne
94