ANNUAL REPORT 2008/09 - Sonova

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Report of the Statutory Auditor on the Financial Statements Report of the Statutory Auditor on the Financial Statements 2008/09 to the Annual General Shareholders’ Meeting of Sonova Holding AG Stäfa Report of the statutory auditor on the fi nancial statements As statutory auditor, we have audited the fi nancial statements of Sonova Holding AG, which comprise the income statement, balance sheet, and notes (pages 114 to 128), for the year ended March 31, 2009. Board of Directors’ Responsibility The Board of Directors is responsible for the preparation of the fi nancial statements in accordance with the requirements of Swiss law and the company’s articles of incorporation. This responsibility includes designing, implementing and maintaining an internal control system relevant to the preparation of fi nancial statements that are free from material misstatement, whether due to fraud or error. The Board of Directors is further responsible for selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances. Auditor’s Responsibility Our responsibility is to express an opinion on these fi nancial statements based on our audit. We conducted our audit in accordance with Swiss law and Swiss Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the fi nancial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the internal control system relevant to the entity’s preparation of the fi nancial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the eff ec tiveness of the entity’s internal control system. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates made, as well as evaluating the overall presentation of the fi nancial statements. We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion. 130 FINANCIAL STATEMENTS OF SONOVA HOLDING AG
Opinion In our opinion, the fi nancial statements for the year ended March 31, 2009 comply with Swiss law and the company’s articles of incorporation. Report on other legal requirements We confi rm that we meet the legal requirements on licensing according to the Auditor Oversight Act (AOA) and independence (article 728 CO and article 11 AOA) and that there are no circumstances incompatible with our independence. In accordance with article 728a paragraph 1 item 3 CO and Swiss Auditing Standard 890, we confi rm that an internal control system exists which has been designed for the preparation of fi nancial statements according to the instructions of the Board of Directors. We further confi rm that the proposed appropriation of available earnings complies with Swiss law and the company’s articles of incorporation. We recommend that the fi nancial statements submitted to you be approved. PricewaterhouseCoopers AG Patrick Balkanyi Urs Honegger Audit expert Audit expert Auditor in charge Zürich, May 4, 2009 FINANCIAL STATEMENTS OF SONOVA HOLDING AG 131
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ANNUAL REPORT 2008/09 PIONEERS IN H
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AT A GLANCE Key Figures in 1,000 CH
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CONTENT 2 CHAIRMAN’S FOREWORD 4 C
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Andy Rihs and explain the advantage
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Dr. Valentin Chapero Rueda systems
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FINANCIAL YEAR 2008/09 SOLID GROWTH
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espectively in local currencies. Fi
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A hearing system helps children wit
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Given the unchanged megatrends, Son
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prehensive portfolio of hearing sys
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Naída IX Nios micro iSense The wir
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SUSTAINABILITY SUSTAINABLE COMMITME
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Professional development: the key t
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Sonova has a Group-wide set of supp
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Phonak’s SoundRecover technology
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Group structure Operational Group s
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Shareholders Registered shareholder
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The following overview shows the sh
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Shareholders’ participation right
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Heliane Canepa Member, non-executiv
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Work methods of the Board of Direct
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Paul Thompson GVP Corporate Develop
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Alexander Zschokke GVP Marketing Ha
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Auditors Duration of the mandate an
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CORPORATE GOVERNANCE 49
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CONTENT FINANCIAL REPORT 54 CFO’S
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Innovation was and remains the most
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Sonova Group consolidated cash fl o
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Reported performance 2007/08 2) Und
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Consolidated Balance Sheets Assets
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Consolidated Statements of Recogniz
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The Group is currently assessing th
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the carrying amount is increased or
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Leasing Assets that are held under
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Segment reporting A business segmen
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Held-to-maturity investments Held-t
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view to determining employee benefi
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1,000 CHF 2007/08 Europe Americas A
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Page 85 and 86: Diluted earnings per share 2008/09
Page 87 and 88: The carrying amounts of trade accou
Page 89 and 90: Tangible assets (buildings, plant a
Page 91 and 92: 1,000 CHF 31.3.2008 Cost Goodwill S
Page 93 and 94: Earn-out provisions include the pre
Page 95 and 96: Market risk Exchange rate risk The
Page 97 and 98: 1,000 CHF 31.03.2008 Due less than
Page 99 and 100: 26. Movements in share capital Issu
Page 101 and 102: Assets and liabilities resulting fr
Page 103 and 104: 28. Related party transactions 1,00
Page 105 and 106: Amounts recognized in the income st
Page 107 and 108: 30. Employee share option and share
Page 109 and 110: Summary of outstanding and exercisa
Page 111 and 112: Share Purchase Plan (granted 2005,
Page 113 and 114: 34. Exchange rates The following ma
Page 115 and 116: Company name Activity Domicile Shar
Page 117 and 118: Opinion In our opinion, the consoli
Page 119 and 120: Balance Sheets Assets 1,000 CHF Not
Page 121 and 122: 2.4 Risk assessment Sonova Holding
Page 123 and 124: in CHF 2007/08 Fixed fee Attendance
Page 125 and 126: Payments to former members of the B
Page 127 and 128: Shareholdings of the Management Boa
Page 129 and 130: Warrants EEAP 08 2) Options EEAP 07
Page 131 and 132: Company name Activity Domicile Shar
Page 133: Appropriation of Available Earnings
Page 137 and 138: Unitron Hearing B.V. Ir. D.S. Tuijn
Page 139 and 140: Disclaimer This report contains for
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ANNUAL REPORT 2008/09 - Sonova

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