Philips 2004 Annual Report Download - page 194
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Auditors’ Report
Introduction
We have audited the 2004 financial statements of Koninklijke
Philips Electronics N.V. appearing on pages 90 to 192. These
financial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
Scope
We conducted our audit in accordance with auditing standards
generally accepted in the Netherlands. Those standards require
that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
Opinion
In our opinion, the financial statements present fairly, in all
material respects, the financial position of the Company as of
December 31, 2004 and the results of its operations for the year
then ended in accordance with accounting principles generally
accepted in the Netherlands and comply with the financial
reporting requirements included in Part 9, Book 2 of the
Netherlands Civil Code.
Eindhoven, February 22, 2005
KPMG Accountants N.V.
193Philips Annual Report 2004
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