Annual Report 2012 - Raiffeisen Bank Kosovo JSC

Independent Auditors’ Report
To the shareholders and management of RAIFFEISEN BANK KOSOVO J.S.C.
comprise the separate statement of fi nancial position as at December 31, 2012, and the separate statement of
comprehensive income, separate statement of changes in equity and separate statement of cash fl ows for the year then
ended, and a summary of signifi cant accounting policies and other explanatory information.
Management’s Responsibility for the Separate Financial Statements
Management is responsible for the preparation and fair presentation of these separate fi nancial statements in
accordance with International Financial Reporting Standards and for such internal control as management determines is
necessary to enable the preparation of separate fi nancial 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 separate fi nancial statements based on our audit. We conducted
our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether the separate fi nancial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the separate
fi nancial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the
risks of material misstatement of the separate fi nancial statements, whether due to fraud or error. In making those
risk assessments, the auditor considers internal control relevant to the bank’s preparation and fair presentation of the
separate fi nancial 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. 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 separate fi nancial statements.
We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit
opinion.
Opinion
In our opinion, the separate fi nancial statements present fairly, in all material respects, the fi nancial position of
the year then ended in accordance with International Financial Reporting Standards.
Prishtina, Kosova
March 20, 2013
Deloitte Kosovo sh.p.k
St. Bedri Pejani, no.3
Prishtina 3, 10030
Kosovo
Tel: + 381 38 245 582/3
Fax: + 381 38 245 584
www.deloitte.com
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Addresses Glossary Financial Statements Segment Reports Overview Macroeconomic Environment RBI Vision and Mission Management Board Introduction