Annual Report 2006 - Rheinland Pfalz Bank

70 LRP 2006
Auditors’ Report
“We have audited the annual financial statements of
LRP Landesbank Rheinland-Pfalz, Mainz, – which comprise
the balance sheet, the statement of income and
the notes – together with the bookkeeping system and
the consolidated financial statements – which comprise
the balance sheet, the statement of income, the
notes, the cash flow statement, the statement of shareholders’
equity and the segment reporting – and the
combined statement of financial condition of LRP Landesbank
Rheinland-Pfalz and the Group for the business
year from 1 January to 31 December 2006. The
maintenance of the records and the preparation of the
annual financial statements and the statement of financial
condition in accordance with German Commercial
Law (HGB) and supplementary provisions in the statutes
are the responsibility of the Bank’s Managing
Board. Our responsibility is to express an opinion on
the annual financial statements, together with the
bookkeeping system, and the consolidated financial
statements as well as the combined statement of financial
condition of LRP Landesbank Rheinland-Pfalz and
the Group based on our audit.
We conducted our audit of the annual financial statements
and the consolidated financial statements in accordance
with § 317 HGB and the generally accepted
standards for the audit of financial statements promulgated
by the Institut der Wirtschaftsprüfer (IDW) in Germany.
Those standards require that we plan and perform
the audit in such a way that misstatements materially
affecting the presentation of the net assets, financial
position and results of operations in the annual
financial statements and the consolidated financial
statement in accordance with German principles of
proper accounting and in the combined statements of
financial conditions are detected with reasonable assurance.
Knowledge of the business activities and the
economic and legal environment of LRP Landesbank
Rheinland-Pfalz and the Group, and evaluations of possible
misstatements are taken into account in the determination
of the audit procedures. The effectiveness of
the internal control system and the evidence supporting
the disclosures in the books and records, the annual
financial statements, the consolidated financial
statements and the combined statement of financial
condition of LRP Landesbank Rheinland-Pfalz and the
Group are examined primarily on a test basis within the
framework of the audit. The audit includes assessing
the annual financial statements of the companies included
in consolidation, the determination of the companies
to be included in consolidation, the accounting
and consolidation principles used, and assessing significant
estimates made by the Managing Board of LRP Landesbank
Rheinland-Pfalz as well as evaluating the overall
presentation of the annual financial statements and
the consolidated financial statements and the combined
statement of financial condition of LRP Landesbank
Rheinland-Pfalz and the Group. We believe that our
audit provides a reasonable basis for our opinion.
Our audit has not led to any reservations.
Based on our assessment of the results of the audit, the
financial statements and the consolidated financial
statements comply with legal requirements and with
the supplementary provisions of the statutes and give a
true and fair view of the net assets, financial position
and results of operations of LRP Landesbank Rheinland-
Pfalz and the Group in accordance with German principles
of proper accounting. The combined statement of
financial condition of LRP Landesbank Rheinland-Pfalz
and the Group is in accordance with the financial statements
and the consolidated financial statements, provides
a suitable understanding of the position of LRP
Landesbank Rheinland-Pfalz and the Group and suitably
presents the opportunities and the risks of future
development.”
Frankfurt (Main), 1 March 2007
PricewaterhouseCoopers
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft
Schuldt
German Public
Accountant
ppa.Mohr
German Public
Accountant