BMW 2009 Annual Report Download - page 141

139 Group Financial Statements
BMW Group
Auditors’ Report
We have audited the consolidated financial statements
prepared by Bayerische Motoren Werke Aktiengesellschaft,
comprising the income statement and statement of com-
prehensive income, the balance sheet, cash flow state-
ment,
statements of changes in equity and the notes to the
consolidated financial statements and its report on the po-
sition of the Company and the Group for the business year
from 1 January to 31 December 2009. The preparation of
the consolidated finan cial statements and Group Manage-
ment Report in accordance with IFRS, as adopted by the
EU, and the additional requirements of German commercial
law pursuant to § 315 a (1) HGB are the responsibility of
the parent company’s management. Our responsibility is
to express an opinion on the consolidated financial state-
ments and on the Group Management Report based on our
audit.
We conducted our audit of the consolidated financial
statements in accordance with § 317 HGB and German
generally accepted standards for the audit of financial
statements promulgated by the Institut der Wirtschafts-
prüfer (IDW). Those standards require that we plan and
perform the audit such that material misstatements
materially affecting the presentation of the net assets,
financial position and results of operations in the con-
solidated financial statements in accordance with the
applicable financial reporting framework and in the Group
Management Report are detected with reasonable
assurance. Knowledge of the business activities and the
economic and legal environment of the Group and ex-
pectations 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 financial statements and in the Group
Management Report are examined primarily on a test basis
within the framework of the audit. The audit also
includes
assessing the annual financial statements of those entities
included in consolidation, the determination of entities
to be included in consolidation, the accounting and con-
solidation principles used and significant estimates made
by the Board of Management, as well as evaluating the
overall presentation of the consolidated financial statements
and 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 findings of our audit, the con-
solidated
financial statements comply with IFRSs, as
adopted by the EU, the additional requirements of German
commercial law pursuant to § 315 a (1) HGB and give a
true and fair view of the net assets, financial position and
results of operations of the Group. The Group Management
Report is consistent with the consolidated financial state-
ments and as a whole provides a suitable view of the
Group’s position and suitably presents the opportunities
and risks of future development.
Munich, 26 February 2010
KPMG AG
Wirtschaftsprüfungsgesellschaft
Prof. Dr. Schindler Pastor
Wirtschaftsprüfer Wirtschaftsprüfer