Annual Report 2010 - Falck

Independent auditors' report
Statements | Falck Annual Report 2010 113
To the shareholders of Falck A/S
We have audited the consolidated financial statements and the parent company financial statements of Falck A/S for the financial
year 1 January – 31 December 2010, pp. 49-118. The consolidated financial statements and the parent company financial statements
comprise income statement, statement of comprehensive income, balance sheet, equity statement, cash flow statement and notes for
the Group as well as for the parent company. The consolidated financial statements and the parent company financial statements have
been prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional Danish disclosure
requirements in the Danish Financial Statements Act.
In addition to our audit, we have read the Management review prepared in accordance with the Danish Financial Statements Act and
issued a statement in this regard.
management's responsibility
Management is responsible for the preparation and fair presentation of the consolidated financial statements and the parent company
financial statements in accordance with International Financial Reporting Standards as adopted by the EU and additional Danish
disclosure requirements in the Danish Financial Statements Act. This responsibility includes: designing, implementing and maintaining
internal control relevant to the preparation and fair presentation of consolidated financial statements and parent company financial
statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting
policies; and making accounting estimates that are reasonable in the circumstances. Further, it is the responsibility of Management to
prepare a Management review that gives a fair review in accordance with the Danish Financial Statements Act.
Auditors' responsibility and basis of opinion
Our responsibility is to express an opinion on the consolidated financial statements and the parent company financial statements based
on our audit. We conducted our audit in accordance with Danish Standards on Auditing. Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance whether the consolidated financial statements and
the parent company 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
and the parent company financial statements. The procedures selected depend on the auditors' judgement, including the assessment
of the risks of material misstatement of the consolidated financial statements and the parent company financial statements,
whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the Company's preparation
and fair presentation of the consolidated financial statements and the parent company 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
Company's internal control. 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 and
the parent company financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Our audit did not result in any qualification.
Opinion
In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the
Group's and the parent company's assets, liabilities and financial position at 31 December 2010 and of the results of the Group's and the
parent company's operations and cash flows for the financial year 1 January – 31 December 2010 in accordance with International Financial
Reporting Standards as adopted by the EU and additional Danish disclosure requirements in the Danish Financial Statements Act.
Statement on the management review
Pursuant to the Danish Financial Statements Act, we have read the Management review. We have not performed any other procedures
in addition to the audit of the consolidated financial statements and the parent company financial statements. On this basis, it is our
opinion that the information given in the Management review is consistent with the consolidated financial statements and the parent
company financial statements.
Copenhagen, 15 March 2011
KPmG
Statsautoriseret Revisionspartnerselskab
Flemming Brokhattingen Søren Kok Olsen
State Authorized Public Accountant State Authorized Public Accountant