entire - Deutsche Bank Annual Report 2012

Deutsche Bank 03 – Confirmations 372
Financial Report 2010 Independent Auditors’ Report
Independent Auditors’ Report
To Deutsche Bank Aktiengesellschaft, Frankfurt am Main
Report on the consolidated financial statements
We have audited the accompanying consolidated financial statements of Deutsche Bank Aktiengesellschaft
and its subsidiaries, which comprise the consolidated statement of income, the consolidated statement of
comprehensive income, the consolidated balance sheet, the consolidated statement of changes in equity, the
consolidated statement of cash flows, and notes to the consolidated financial statements for the business year
from January 1 to December 31, 2010.
Management’s Responsibility for the Consolidated Financial Statements
The management of Deutsche Bank Aktiengesellschaft is responsible for the preparation of these consolidated
financial statements. This responsibility includes preparing these consolidated financial statements in accordance
with International Financial Reporting Standards as adopted by the EU, the supplementary requirements
of German law pursuant to § [Article] 315a Abs. [paragraph] 1 HGB [Handelsgesetzbuch: German Commercial
Code], and full IFRS to give a true and fair view of the net assets, financial position and results of operations of
the group in accordance with these requirements. The company’s management is also responsible for the
internal controls that management determines are necessary to enable the preparation of consolidated financial
statements that are free from material misstatement, whether due to fraud or error.
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 § 317 HGB and German generally accepted standards for the audit of
financial statements promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany]
(IDW) as well as in supplementary compliance with the standards of the Public Company Accounting Oversight
Board (United States). Accordingly, we are required to comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether the consolidated financial statements are free from
material misstatement.
An audit involves performing audit procedures to obtain audit evidence about the amounts and disclosures in
the consolidated financial statements. The selection of audit procedures depends on the auditor’s professional
judgment. This includes the assessment of the risks of material misstatement of the consolidated financial
statements, whether due to fraud or error. In assessing those risks, the auditor considers the internal control
system relevant to the entity’s preparation of the consolidated financial statements that give a true and fair view.
The aim of this is to plan and perform audit procedures that are appropriate in the given circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the group’s internal control system. An audit
also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates made by management, 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.