2007 Reference document (PDF) - Valeo

6. Restatement of prior year financial information
IFRS requires previously published comparative periods to be
retrospectively restated in the event of:
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operations meeting the criteria set out in IFRS 5 on non-current
assets held for sale and discontinued operations;
business combinations (recognition of the definitive fair value of
assets acquired and liabilities and contingent liabilities assumed
if fair value had been estimated on a provisional basis at the
previous balance sheet date);
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Consolidated fi nancial statements at December 31, 2007
Notes to consolidated financial statements
changes in accounting policies (subject to the transitional provisions
applicable upon first-time adoption of new standards); and
corrections of accounting errors.
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In accordance with IFRS 5, the statements of income for the years
ended December 31, 2006 and 2005 published in February 2007
were restated to reflect the sale of the Wiring H arness activity (see
note 2.1.1), in order to provide a meaningful comparison between
the three periods presented.
2007 Reference document - VALEO
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