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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC198
COMPANY FINANCIAL STATEMENTS
6STATUTORY AUDITORS’ REPORT ONTHEFINANCIALSTATEMENTS
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4. Statutory Auditors’ report
on the financial statements
To the S hareholders of Schneider Electric SA,
In compliance with the assignment entrusted to us by your Annual
Shareholders’ Meeting, we hereby report to you, for the year ended
December31, 2009 on:
•the audit of the accompanying fi nancial statements of Schneider
Electric SA;
•the justifi cation of our assessments;
•the specifi c verifi cations and information required by law.
These fi nancial statements have been approved by the Executive
board. Our role is to express an opinion on these fi nancial statements
based on our audit.
I – Opinion on the financial statements
We conducted our audit in accordance with professional standards
applicable in France; those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the fi nancial statements are free of material misstatement. An audit
involves performing procedures, using sampling techniques or other
methods of selection, to obtain audit evidence about the amounts
and disclosures in the fi nancial statements.An audit also includes
evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made, as well as 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.
In our opinion, the fi nancial statements give a true and fair view of
the assets and liabilities and of the fi nancial position of the Company
as at 31December 2009 and of the results of its operations for
the year then ended in accordance with French generally accepted
accounting principles.
II – Justification of assessments
In accordance with the requirements of articleL.823-9 of French
Commercial Code (Code de commerce) relating to the justifi cation
of our assessments, we bring to your attention the following matters:
As part of our assessment of the accounting principles and methods
used by your company, we verified the appropriateness of the
principles and methods used to value shares in subsidiaries and
affi liates, described in the section on accounting principles and in
note2 to the fi nancial statements, and obtained assurance that they
were correctly applied.
The assessments were thus made in the context of the performance
of our audit of the fi nancial statements, taken as a whole, and
therefore contributed to the opinion we formed which is expressed
in the fi rst part of this report.
III – Specific verifications
andinformation
We have also performed the specifi c verifi cations required by law, in
accordance with professional standards applied in France.
We have no matters to report regarding the fair presentation and
the conformity with the fi nancial statements of the information given
in the Executive board’s report and in the documents addressed
to the shareholders with respect to the fi nancial position and the
fi nancial statements.
Regarding the information provided in accordance with the
requirements of articleL.225-102-1 of French Commercial Code
(Code de commerce) relating to the compensation and benefi ts paid
to the Corporate offi cers concerned and the engagement granted
to them, we verifi ed the conformity with the fi nancial statements, or
with the data used for the preparation of the fi nancial statements;
and, when applicable, with the information collected by the Company
from the companies which control your Company or controlled by
your Company. On the basis of the audit we performed, we attest
that this information is true and fair.
In accordance with French Law, we have ensured that the required
information concerning the purchase of investments and controlling
interests and the names of the principal shareholders has been
properly disclosed in the Executive board’s report.
Neuilly-sur-Seine and Courbevoie, February 17, 2010
The Statutory Auditors
Ernst & Young et Autres
Yvon SALAÜN
Mazars
Pierre SARDET
This is a free translation into English of the Statutory Auditors’ report on the F inancial S tatements issued in French and it is provided
solely for the convenience of English speaking users.
The Statutory Auditors’ report includes information specifi cally required by French law in such reports, whether modifi ed or not. This
information is presented below the audit opinion on the fi nancial statements and includes an explanatory paragraph discussing the
auditors’ assessments of certain signifi cant accounting and auditing matters. These assessments were considered for the purpose
of issuing an audit opinion on the fi nancial statements taken as a whole and not to provide separate assurance on individual account
balances, transactions, or disclosures.
This report also includes information relating to the specifi c verifi cation of information given in the management report and in the
documents addressed to shareholders.
This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards
applicable in France.