Rothschild Bank AG Zurich - Rothschild | Private Banking & Trust

More documents

Recommendations

Info

Business and Services Provided by Rothschild Bank AG Zurich and Subsidiaries Trading The provision of portfolio management services is supported by specialists and the necessary infrastructure in the trading department of the Bank. This allows quick execution and processing of orders in foreign exchange, fiduciary deposits and securities transactions on good terms in all the major financial centres as well as in investment funds and derivatives as instruments for investment management and risk. Rothschild Bank AG is a licenced securities dealer, an associated member of the Swiss Stock Exchange and a member of the German Stock Exchange Xetra. Lombard Lending Within the context of overall investment management and private banking, the Bank grants loans to clients and guarantees to third parties on behalf of clients. This credit activity is based upon lombard lending against marketable securities in diversified portfolios and normally does not allow granting advances over more than twelve months. Within the credit policies, there are strict rules regarding the quality of collateral together with margin requirements. Part 2 Rothschild Bank AG Zurich R 35
36 Rothschild Bank AG Zurich Report of the Statutory Auditor on the Consolidated Financial Statements Report of the Statutory Auditor on the Consolidated Financial Statements to the Annual General Meeting of Rothschild Bank AG Zurich As statutory auditor, we have audited the consolidated financial statements of Rothschild Bank AG, Zurich, which comprise the balance sheet, income statement, cash flow statement and notes (pages 8 to 35) for the year ended 31st March 2010. Board of Directors’ Responsibility The Board of Directors is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the provisions governing the preparation of financial statements for Banks and the requirements of Swiss law. This responsibility includes designing, implementing and maintaining an internal control system relevant to the preparation and fair presentation of consolidated financial 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 consolidated financial 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 consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial 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 and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness 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 consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements for the year ended 31st March 2010 give a true and fair view of the financial position, the results of operations and the cash flows in accordance with the provisions governing the preparation of financial statements for Banks and comply with Swiss law. Part 2 R
Page 1 and 2: Rothschild Bank AG Zurich Annual Re
Page 3 and 4: 2 Rothschild Bank AG Zurich Part 1
Page 5 and 6: 4 Rothschild Bank AG Zurich Chairma
Page 7 and 8: 6 Directors, Executive Committee an
Page 9 and 10: 8 Rothschild Bank AG Zurich A Conso
Page 11 and 12: 10 Rothschild Bank AG Zurich A Cons
Page 13 and 14: 12 Rothschild Bank AG Zurich B Cons
Page 15 and 16: 14 Rothschild Bank AG Zurich C Note
Page 29 and 30: 28 Rothschild Bank AG Zurich D Cons
Page 31 and 32: 30 Rothschild Bank AG Zurich D Cons
Page 33 and 34: 32 Rothschild Bank AG Zurich E Note
Page 35: 34 Rothschild Bank AG Zurich Busine
Page 39 and 40: 38 Rothschild Bank AG Zurich Part 2
Page 41 and 42: 40 Rothschild Bank AG Zurich Balanc
Page 43 and 44: 42 Rothschild Bank AG Zurich Off-Ba
Page 45 and 46: 44 Rothschild Bank AG Zurich Propos
Page 47 and 48: 46 Rothschild Bank AG Zurich Notes
Page 51 and 52: 50 Rothschild Bank AG Zurich Accoun
Page 53 and 54: 52 Rothschild Bank AG Zurich Accoun
Page 57 and 58: 56 Rothschild Bank AG Zurich Report
Page 59 and 60: 58 Rothschild Bank AG Zurich Head O
Page 61 and 62: 60 Rothschild Bank AG Zurich Group
Page 63: 62 Rothschild Bank AG Zurich Group

Rothschild Bank AG Zurich - Rothschild | Private Banking & Trust

Create successful ePaper yourself

Delete template?

Save as template?