Ubisoft 2003 Annual Report Download - page 121

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FINANCIAL REPORT
2004 121
Dear Shareholders:
In our capacity as statutory auditors for Ubisoft Entertainment SA, and pursuant to the provisions in the final paragraph of
Article L. 225-235 of France's Commercial Code, we present our findings on the report prepared by your company's Chairman
in accordance with the provisions of Article L. 225-37 of the Commercial Code for the fiscal year ending March 31, 2004.
The Board of Directors is responsible for ensuring that the company’s general management carries out its appointed task of
defining and implementing appropriate, effective internal audit procedures. In his report, the Chairman must, in particular,
describe the conditions under which the work of the Board was prepared and organized and the internal control procedures
that have been implemented within the company.
Our task is to offer our observations in response to the information given in the Chairman’s report regarding the internal
audit procedures for preparing and handling accounting and financial information.
We have conducted our work in accordance with the relevant professional standards in France. This requires due diligence to
assess the accuracy of the information given in the Chairman’s report regarding the internal audit procedures for preparing
and handling accounting and financial information. Specifically, this due diligence includes:
●Acquiring an understanding of the objectives and general organization of the internal audit process and of the internal audit
procedures with regard to preparing and handling accounting and financing information, as described in the Chairman's
report.
●Acquiring an understanding of the activities on which the information given in the report is founded.
On the basis of these activities, we have no criticism to make concerning the information we have received with regard to the
company’s internal audit procedures in the area of preparing and processing accounting and financial information, as
contained in the report of the Chairman of the Board of Directors, prepared pursuant to the provisions of the last paragraph
of Article L. 225-37 of France's Commercial Code.
July 7, 2004
BY THE STATUTORY AUDITORS
KPMG Audit
A division of KPMG SA Cabinet André Métayer
Laurent PRÉVOST André MÉTAYER
Partner Partner
06
Report from the Chairman of the Board of Directors
6.6
Limitations on the powers of the Chief
Executive Officer
It is hereby specified that the Chairman and Chief Executive Officer exercises his functions without any particular limitations,
subject to the powers expressly granted by law and the Articles of Association to the Board of Directors.
6.7
Report from the statutory auditors, prepared pursuant to the
final paragraph of Article L. 225-235 of the Commercial Code,
on the report from the Chairman of the Board of Directors
of Ubisoft Entertainment SA with regard to internal audit
procedures for preparing and handling accounting and financial
information