Siemens 2014 Annual Report Download - page 339

247 D. Consolidated Financial Statements 337 E. Additional Information
338 E. Responsibility Statement
339 E. Independent Auditorʼs Report
341 E. Statement of the Managing Board
342 E. Company structure
344 E. Five-year summary
345 E. Notes and forward- looking statements
346 E. Further information and information resources
347 E. Financial calendar
33
To Siemens Aktiengesellschaft, Berlin and Munich
REPORT ON THE CONSOLIDATED
FINANCIAL STATEMENTS
We have audited the accompanying consolidated financial
statements of Siemens Aktiengesellschaft, Berlin and Munich,
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 , 
to September , .
Management’s Responsibility for the
Consolidated Financial Statements
The management of Siemens Aktiengesellschaft is responsible
for the preparation of these consolidated financial statements.
This responsibility includes preparing these consolidated finan-
cial 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. a () HGB [“Handelsgesetzbuch“: German Commer-
cial Code] and full IFRS as issued by the International Account-
ing 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 responsible for the internal controls that
management determines are necessary to enable the prepa-
ration 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 consoli-
dated financial statements based on our audit. We conducted
our audit in accordance with Sec.  HGB and German gener-
ally accepted standards for the audit of financial statements
promulgated 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 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 audit procedures to obtain audit
evidence about the amounts and disclosures in the consoli-
dated financial statements. The selection of audit procedures
depends 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
error. In assessing those risks, the auditor considers the inter-
nal control system relevant to the entity’s preparation of the
consolidated 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 purpose
of expressing an opinion on the effectiveness of the group’s
internal control system. An audit also includes evaluating the
appropriateness of accounting policies used and the reason-
ableness 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 suffi-
cient and appropriate to provide a basis for our audit opinion.
Audit Opinion
Pursuant to Sec.  () Sentence  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 consol-
idated financial statements comply in all material respects
with IFRS as adopted by the EU, the supplementary require-
ments of German commercial law pursuant to Sec. a ()
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 ,  as well as the results of operations
for the business year then ended, in accordance with these
requirements.
E. Independent Auditor’s Report