Annual Report 2012 - Investor Relations

Report of the statutory auditor on the consolidated financial statements69Report of the statutory auditoron the consolidated financial statementsReport of the statutory auditorto the general meeting ofCham Paper Group Holding AGChamReport of the statutory auditor on the consolidated financial statementsAs statutory auditor, we have audited the consolidated financial statements of Cham Paper GroupHolding AG, which comprise the income statement, balance sheet, cash flow statement, shareholders’equity statement and notes (pages 48 to 68), for the year ended 31 December 2012.Board of Directors’ ResponsibilityThe Board of Directors is responsible for the preparation and fair presentation of the consolidatedfinancial statements in accordance with Swiss GAAP FER and the requirements of Swiss law. Thisresponsibility includes designing, implementing and maintaining an internal control system relevantto the preparation and fair presentation of consolidated financial statements that are free from materialmisstatement, whether due to fraud or error. The Board of Directors is further responsible for selectingand applying appropriate accounting policies and making accounting estimates that are reasonablein the circumstances.Auditor’s ResponsibilityOur responsibility is to express an opinion on these consolidated financial statements based on ouraudit. We conducted our audit in accordance with Swiss law and Swiss Auditing Standards. Thosestandards require that we plan and perform the audit to obtain reasonable assurance whether theconsolidated financial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosuresin the consolidated financial statements. The procedures selected depend on the auditor’s judgment,including the assessment of the risks of material misstatement of the consolidated financial statements,whether due to fraud or error. In making those risk assessments, the auditor considers theinternal control system relevant to the entity’s preparation of the consolidated financial statements inorder to design audit procedures that are appropriate in the circumstances, but not for the purpose ofexpressing an opinion on the effectiveness of the entity’s internal control system. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness of accountingestimates made, as well as evaluating the overall presentation of the consolidated financialstatements. We believe that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion.OpinionIn our opinion, the consolidated financial statements for the year ended 31 December 2012 give a trueand fair view of the financial position, the results of operations and the cash flow in accordance withSwiss GAAP FER and comply with Swiss law.PricewaterhouseCoopers AG, Grafenauweg 8, Postfach, 6304 ZugTelephone: +41 58 792 68 00, Facsimile: +41 58 792 68 10, www.pwc.chPricewaterhouseCoopers AG ist Mitglied eines globalen Netzwerks von rechtlich selbständigen und voneinander unabhängigen Gesellschaften.