BKW FMB Energy Ltd Annual Report 2003

Report of the Statutory Auditors
62
to the Annual General Meeting of BKW FMB Energy Ltd, Berne
As statutory auditors, we have audited the accounting records and the fi nancial
statements (income statement, balance sheet and notes from page 56 to 60) of BKW
FMB Energy Ltd for the year ended 31 December 2003.
These fi nancial statements are the responsibility of the Board of Directors. Our
responsibility is to express an opinion on these fi nancial statements based on our audit.
We confi rm that we meet the legal requirements concerning professional qualifi cation
and independence.
Our audit was conducted in accordance with auditing standards promulgated by the
Swiss profession, which require that an audit be planned and performed to obtain
reasonable assurance about whether the fi nancial statements are free from material
misstatement. We have examined on a test basis evidence supporting the amounts and
disclosures in the fi nancial statements. We have also assessed the accounting principles
used, signifi cant estimates made and the overall fi nancial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
In our opinion, the accounting records and fi nancial statements and the proposed
appropriation of available earnings comply with Swiss law and the Company’s
Articles of Incorporation.
We recommend that the fi nancial statements submitted to you be approved.
Berne, 7 April 2004
Ernst & Young Ltd
Marcel Gehrig Roland Ruprecht
Certifi ed Accountant Certifi ed Accountant
(in charge of the audit)