FINANCIAL REPORT - Française des Jeux

58 — 2010 FINANCIAL REPORT
STATUTORY AUDITORS’ REPORT
ON THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010
This is a free translation into English of the statutory auditors’ report on the
consolidated fi nancial statements issued in the French language and it is provided
solely for the convenience of English speaking users. The statutory auditors report
includes information specifi cally required by French law in such reports, whether
modifi ed or not. This information is presented below the audit opinion on the
consolidated financial statements and includes an explanatory paragraph
discussing the auditors’ assessments of certain signifi cant accounting and auditing
matters. These assessments were considered for the purpose of issuing an audit
opinion on the consolidated fi nancial statements taken as a whole and not to
provide separate assurance on individual account captions or on information taken
outside of the fi nancial statements. This report also includes information relating
to the specifi c verifi cation of information given in the Group’s management report.
This report should be read in conjunction with, and is construed in accordance
with, French law and professional auditing standards applicable in France.
To the Shareholders,
In compliance with the assignment entrusted to us by your
Annual General Meeting, we hereby report to you, for the year
ended 31 December 2010 on:
– the audit of the accompanying consolidated fi nancial statements
of la Française des Jeux;
– the justifi cation of our assessments;
– the specifi c verifi cation and information required by law.
These consolidated fi nancial statements have been approved by the
Board of Directors. Our role is to express an opinion on these
consolidated fi nancial statements based on our audit.
1
OPINION ON THE CONSOLIDATED FINANCIAL
STATEMENTS
We conducted our audit according to the professional standards
applicable in France. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
consolidated fi nancial statements are free of material misstatement.
An audit involves performing procedures, using sampling techniques
or other methods of selection, to obtain audit evidence about the
amounts and disclosures in the consolidated fi nancial statements. An
audit also includes evaluating th e appropriateness of accounting
policies used and the reasonableness of accounting estimates made,
as well as the overall presentation of the consolidated fi nancial
statements. We believe that the audit evidence we have obtained is
suffi cient and appropriate to provide a basis for our opinion.
In our opinion, the consolidated fi nancial statements give a true and
fair view of the assets and liabilities and of the fi nancial position of La
Française des Jeux Group as at 31 December 2010 and ot the results
of its operations for the year then ended in accordance with International
Financial Reporting Standards as adopted by the European Union.
Without qualifying our opinion, we draw your attention to the
specifi c legal framework applying to the company set out in Note
1.2 to the consolidated fi nancial statements, “Background of la
Française des Jeux Group”.
2
JUSTIFICATION OF ASSESSMENTS
In accordance with the requirements of Article L.823-9 of the
French Commercial Code (Code de commerce) relating to the
justifi cation of our assessments, we bring to your attention the
following matters:
The note 2.3 to the consolidated fi nancial statements describes the
signifi cant estimates and judgements that management has made.
In particular with respect to intangible assets and goodwill, our work
consisted of assessing the appropriateness of the data used and
assumptions underlying these judgements and estimates, reviewing,
on a test basis, the calculations performed by the Company,
reviewing the procedures for approving these estimates by
management, and fi nally verifying that the appropriate information
on the assumptions, options and evaluations made by the Group is
disclosed in the notes to the consolidated fi nancial statements.
These assessments were made as part of our audit of the
consolidated fi nancial statements taken as a whole and therefore
contributed to the opinion we formed which is expressed in the
fi rst part of this report.
3
SPECIFIC VERIFICATION
We have also performed in accordance with professional standards
applicable in France, the specifi c verifi cations required by the French
law on the information presented in the Group’s management
report. We have no matters to report as to the fair presentation and
the consistency with the consolidated fi nancial statements.
Neuilly-sur-Seine and Paris 11 April 2011
The statutory auditors:
Deloitte & Associés
Muriel de Szilbereky
Tristan Guerlain
Grant Thornton
Gilles Hengoat
Vincent Frambourt