COMMERZBANK AKTIENGESELLSCHAFT

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3)
Group Financial Statements
410
354 Commerzbank Annual Report 2011
(page 64)
es 3, 5, 6,
mbH &
Report on the Group Management Report
We have audited the accompanying group management report
of COMMERZBANK Aktiengesellschaft, Frankfurt am Main, for
the business year from January 1 to December 31, 2011. The
Board of Managing Director of COMMERZBANK Aktiengesellschaft,
Frankfurt am Main, is responsible for the preparation of
the group management report in accordance with the
requirements of German commercial law applicable pursuant to
§ 315a Abs. 1 HGB. We conducted our audit in accordance with
§ 317 Abs. 2 HGB and German generally accepted standards for
the audit of the group management report promulgated by the
Institut der Wirtschaftsprüfer (Institute of Public Auditors in
Germany) (IDW). Accordingly, we are required to plan and
perform the audit of the group management report to obtain
reasonable assurance about whether the group management
report is consistent with the consolidated financial statements
and the audit findings, as a whole provides a suitable view of the
Group’s position and suitably presents the opportunities and
risks of future development.
Printing and Processing
Kunst- und Werbedruck,
Bad Oeynhausen
Disclaimer
Reservation regarding forward-looking
statements
This Annual Report contains forward-looking
statements on Commerzbank’s business and
earnings performance, which are based upon
our current plans, estimates, forecasts and
expectations. The statements entail risks and
uncertainties, as there are a variety of factors
which influence our business and to a great
extent lie beyond our sphere of influence.
Above all, these include the economic situation,
the state of the financial markets worldwide and
possible loan losses. Actual results and developments
may, therefore, diverge considerably
from our current assumptions, which, for this
reason, are valid only at the time of publication.
We undertake no obligation to revise our
forward-looking statements in the light of either
new information or unexpected events.
According to § 322 Abs. 3 Satz 1 HGB we state, that our audit of
the group management report has not led to any reservations.
In our opinion based on the findings of our audit of the
consolidated financial statements and group management
report, the group management report is consistent with the
consolidated financial statements, as a whole provides a suitable
view of the Group’s position and suitably presents the
opportunities and risks of future development.
Frankfurt am Main, March 1, 2012
PricewaterhouseCoopers
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft
Lothar Schreiber Peter Goldschmidt
(Wirtschaftsprüfer) (Wirtschaftsprüfer)
(German Public Auditor) (German Public Auditor)