Siemens 2008 Annual Report Download - page 317

Independent Auditors’ Report 221
Independent Auditors’ Report
We have audited the consolidated nancial statements prepared by Siemens Aktiengesellschaft, Berlin and
Munich, comprising the balance sheet, the statements of income, income and expense recognized in equity and
cash ow and the notes to the consolidated nancial statements, together with the group management report
for the business year from October 1, 2007 to September 30, 2008. The preparation of the consolidated nancial
statements and the group management report in accordance with IFRSs as adopted by the EU, and the additional
requirements of German commercial law pursuant to § 315a Abs. 1 HGB [Handelsgesetzbuch “German Commer-
cial Code”] are the responsibility of the Managing Board of the Company. Our responsibility is to express an
opinion on the consolidated nancial statements and on the group management report based on our audit.
Inaddition we have been instructed to express an opinion as to whether the consolidated nancial statements
comply with full IFRS.
We conducted our audit of the consolidated nancial statements in accordance with § 317 HGB and German
generally accepted standards for the audit of nancial statements promulgated by the Institut der Wirtschafts-
prüfer (IDW) and in supplementary compliance with International Standards on Auditing (ISA). Those standards
require that we plan and perform the audit such that misstatements materially affecting the presentation of the
net assets, nancial position and results of operations in the consolidated nancial statements in accordance
with the applicable nancial reporting framework and in the group management report are detected with rea-
sonable assurance. Knowledge of the business activities and the economic and legal environment of the Group
and expectations as to possible misstatements are taken into account in the determination of audit procedures.
The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures
in the consolidated nancial statements and the group management report are examined primarily on a test
basis within the framework of the audit. The audit includes assessing the annual nancial statements of those
entities included in consolidation, the determination of entities to be included in consolidation, the accounting
and consolidation principles used and signicant estimates made by the Managing Board, as well as evaluating
the overall presentation of the consolidated nancial statements and the group management report. We believe
that our audit provides a reasonable basis for our opinion.
Our audit has not led to any reservations.
In our opinion, based on the ndings of our audit, the consolidated nancial statements comply with IFRSs as
adopted by the EU, the additional requirements of German commercial law pursuant to § 315a Abs. 1 HGB and
full IFRS and give a true and fair view of the net assets, nancial position and results of operations of the Group
in accordance with these requirements. The group management report is consistent with the consolidated
nancial statements and as a whole provides a suitable view of the Group’s position and suitably presents the
opportunities and risks of future development.
Munich, November 21, 2008
KPMG AG
Wirtschaftsprüfungsgesellschaft
(formerly
KPMG Deutsche Treuhand-Gesellschaft
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft)
v. Heynitz Rohrbach
Wirtschaftsprüfer Wirtschaftsprüfer
(Independent Auditors)