Siemens 2012 Annual Report Download - page 331

135 D. Consolidated Financial Statements 239 E. Additional Information
240 E. Responsibility statement
241 E. Independent Auditors’ Report
243 E. Statement of the Managing Board
244 E. Five-year summary
246 E. Glossary
248 E. Index
250 E. Further information and information resources
251 E. Financial calendar
252 E. Company structure

To Siemens Aktiengesellschaft, Berlin and Munich
    

We have audited the accompanying consolidated financial
statements of Siemens Aktiengesellschaft, Munich and Berlin,
and its subsidiaries, which comprise the consolidated state-
ments of income, comprehensive income, financial position,
cash flow and changes in equity, and notes to the consolidated
financial statements for the business year from October 1, 2011
to September 30, 2012.
Management’s Responsibility for the
Consolidated Financial Statements
The management of Siemens Aktiengesellschaft is responsi-
ble for the preparation of these consolidated financial state-
ments. This responsibility includes preparing these consoli-
dated financial statements in accordance with International
Financial Reporting Standards (IFRS) as adopted by the
European Union (EU), the supplementary requirements of
German law pursuant to Sec. 315a (1) HGB [“Handelsgesetz-
buch“: German Commercial Code] and full IFRS as issued by
the International Accounting Standards Board (IASB), to give
a true and fair view of the net assets, financial position and
results of operations of the group in accordance with these
requirements. The company’s management is also responsi-
ble for the internal controls that management determines are
necessary to enable the preparation of 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 consolidat-
ed financial statements based on our audit. We conducted our
audit in accordance with Sec. 317 HGB and German generally
accepted standards for the audit of financial statements pro-
mulgated by the Institut der Wirtschaftsprüfer [Institute of
Public Auditors in Germany] (IDW) as well as in supplementary
compliance with International Standards on Auditing (ISA).
.  ’ 
Accordingly, we are required to comply with ethical require-
ments and plan and perform the audit to obtain reasonable as-
surance about whether the consolidated financial statements
are free from material misstatement.
An audit involves performing audit procedures to obtain audit
evidence about the amounts and disclosures in the consolidat-
ed financial statements. The selection of audit procedures de-
pends on the auditor’s professional judgment. This includes
the assessment of the risks of material misstatement of the
consolidated financial statements, whether due to fraud or er-
ror. In assessing those risks, the auditor considers the internal
control system relevant to the entity’s preparation of the con-
solidated financial statements that give a true and fair view.
The aim of this is to plan and perform audit procedures that
are appropriate in the given circumstances, but not for the pur-
pose of expressing an opinion on the effectiveness of the
group’s internal control system. An audit also includes evaluat-
ing the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by manage-
ment, as well as evaluating the overall presentation of the
consolidated financial statements.
We believe that the audit evidence we have obtained is suffi-
cient and appropriate to provide a basis for our audit opinion.
Audit Opinion
Pursuant to Sec. 322 (3) Sentence 1 HGB, we state that our
audit of the consolidated financial statements has not led to
any reservations.
In our opinion, based on the findings of our audit, the consoli-
dated financial statements comply in all material respects with
IFRS as adopted by the EU, the supplementary requirements of
German commercial law pursuant to Sec. 315a (1) HGB and full
IFRS as issued by the IASB and give a true and fair view of the
net assets and financial position of the Group as at September 30,
2012 as well as the results of operations for the business year
then ended, in accordance with these requirements.