Ubisoft 2007 Annual Report Download - page 93

CONSOLIDATED FINANCIAL STATEMENTS AS OF MARCH 31, 2008
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Report for the consolidated account statements
for the fiscal year ending March, 31, 2008
Dear Shareholders,
Pursuant to the assignment entrusted to us by your Board of Directors, we have audited the consolidated financial state-
ments of Ubisoft Entertainment S.A. for the fiscal year ended March 31, 2008, as attached to this report.
The consolidated financial statements have been prepared by the Board of Directors. It is our task to express an opinion on
these financial statements on the basis of our audit.
I - Opinion regarding the consolidated financial statements
We have conducted our audit in accordance with accepted professional standards in France. These standards require due
diligence in order to ascertain with reasonable certainty that the consolidated financial statements contain no material
anomalies. An audit consists in examining, on a test basis, evidence relevant to the information contained in the financial
statements. It also involves assessing the accounting principles applied, the significant estimates made in preparing the
financial statements and their overall presentation. It is our view that the audit we conducted forms a true and fair basis for
the opinion expressed below.
We hereby certify that, from the standpoint of IFRS standards as adopted in the European Union, the consolidated financial
statements give a true and fair view of the assets, financial position and results of the group comprising the consolidated
persons and entities.
Without contesting our opinion above, we draw your attention to the note “Comparability of financial statements” which
describes the changes in the presentation of financial statements.
II - Basis for assessment
Pursuant to the provisions of Article L. 823-9 of the French Commercial Code regarding the basis for assessment, we call
your attention to the following items:
Changes in the presentation
The note “Comparability of financial statements” describes the changes in the presentation of financial statements issued
during the fiscal year. Pursuant IAS 8, the comparative information referring the last fiscal year and presented in the con-
solidated financial statements, was restated to integrate the application of this new presentation
Therefore, the comparative information is different to the consolidated financial statements published for 2006-2007 fis-
cal year.
As part of our assessment of the accounting principles applied by your company, we have examined the correct last fiscal
year restatement and of the information provided in the notes.
Goodwill and brands
The notes relating to “Goodwill” and “Brands” in the section of the notes entitled “Consolidation principles” describes the
accounting principles for the recognition and amortization of these intangible assets.
As part of our assessment of the accounting rules and principles applied by your company, we have reviewed the procedures
for conducting this impairment test, as well as the cash flow forecasts and assumptions used, and verified that the above
notes provide appropriate information.
Commercial software
The note relating to “Other intangible assets” in the section of the notes entitled “Consolidation principles” describes
the accounting principles for the recognition and amortization of commercial software.
Our work consisted to assess the information and assumptions on which are based these estimates, to review the calcu-
lations made by the company, to compare the accounting estimates of the last periods with the reality. As part of our
assessment, we have ensured the appropriateness of these estimates.
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