Philips 2013 Annual Report Download - page 189

11 Group financial statements 11.10 - 11.10
Annual Report 2013 189
11.10 Independent auditor’s report - Group
Independent auditor’s report
To the Supervisory Board and Shareholders of Koninklijke Philips N.V.:
Report on the consolidated financial statements
We have audited the accompanying consolidated financial statements
2013 which are part of the financial statements of Koninklijke Philips N.V.,
Eindhoven, the Netherlands, and comprise the consolidated balance
sheet as at December 31, 2013, the consolidated statements of income,
comprehensive income, cash flows and changes in equity for the year then
ended and notes, comprising a summary of the significant accounting
policies and other explanatory information.
Management’s responsibility
The Board of Management is responsible for the preparation and fair
presentation of the consolidated financial statements in accordance with
International Financial Reporting Standards as adopted by the European
Union and with Part 9 of Book 2 of the Dutch Civil Code and for the
preparation of the Management report in accordance with Part 9 of Book 2
of the Dutch Civil Code. Furthermore, management is responsible for such
internal control as it determines is necessary to enable the preparation of
the consolidated financial statements that are free from material
misstatement, whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these consolidated financial
statements based on our audit. We conducted our audit in accordance
with Dutch law, including the Dutch Standards on Auditing. This requires
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the consolidated financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the consolidated financial statements. The
procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the consolidated
financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s
preparation and fair presentation of the consolidated financial statements
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
eectiveness of the entity’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the consolidated financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the consolidated financial statements give a true and fair
view of the financial position of Koninklijke Philips N.V. as at December 31,
2013 and of its result and its cash flows for the year then ended in
accordance with International Financial Reporting Standards as adopted
by the European Union and with Part 9 of Book 2 of the Dutch Civil Code.
Report on other legal and regulatory requirements
Pursuant to the legal requirements under Section 2:393 sub 5 at e and f of
the Dutch Civil Code, we have no deficiencies to report as a result of our
examination whether the Management report, to the extent we can
assess, as defined in the introduction paragraph of section 11 Group
financial statements, has been prepared in accordance with Part 9 of Book
2 of this Code, and whether the information as required under Section
2:392 sub 1 at b - h has been annexed. Further, we report that the
Management report to the extent we can assess, is consistent with the
consolidated financial statements as required by Section 2:391 sub 4 of the
Dutch Civil Code.
Amsterdam, The Netherlands
February 25, 2014
KPMG Accountants N.V.
J.F.C. van Everdingen RA