Annual Financial Statements 2010 of Bank Austria

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Consolidated Financial Statements in accordance with IFRSs Concluding Remarks of the Management Board of UniCredit Bank Austria AG The Management Board of UniCredit Bank Austria AG has prepared the consolidated financial statements for the financial year beginning on 1 January 2010 and ending on 31 December 2010 in accordance with International Financial Reporting Standards (IFRSs) published by the International Accounting Standards Board as adopted by the European Union. The management report of the Group was prepared in accordance with the Austrian Business Code and is consistent with the consolidated financial statements. Vienna, 7 March 2011 The Management Board Willibald Cernko (Chairman) Helmut Bernkopf Jürgen Danzmayr Massimiliano Fossati Francesco Giordano The consolidated financial statements and the management report of the Group contain all required disclosures; in particular, events of special significance which occurred after the end of the financial year, and other major circumstances that are significant for the future development of the Group have been appropriately explained. Rainer Hauser Gianni Franco Papa Doris Tomanek Bank Austria · Annual Financial Statements 2010 150
Consolidated Financial Statements in accordance with IFRSs Report of the Auditors Auditors’ report *) Report on the consolidated financial statements We have audited the accompanying consolidated financial statements of Bank Austria for the financial year from 1 January 2010 to 31 December 2010. These consolidated financial statements comprise the statement of financial position as at 31 December 2010, the statement of comprehensive income, the statement of cash flows and the statement of changes in equity for the year ended 31 December 2010, and the notes to the consolidated financial statements. Management’s responsibility for the consolidated financial statements and for the consolidated accounting Bank Austria’s management is responsible for the consolidated accounting as well as the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the EU. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors’ responsibility and description of the type and extent of the statutory audit Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with laws, regulations and principles governing an *) The report (in the German language, or translations into another language, including shortened or amended versions) may not be made public or used by third parties, when reference is made in whole or in part to the auditors’ report, without the express written consent of the auditors. audit of financial statements which are applicable in Austria and in accordance with International Standards on Auditing (ISAs), issued by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated financial 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 consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion Our audit did not give rise to any objections. Based on the results of our audit in our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the group as at 31 December 2010, and its financial performance and its cash flows for the financial year from 1 January 2010 to 31 December 2010 in accordance with International Financial Reporting Standards (IFRSs) as adopted by the EU. This report has been translated from German into English for reference purposes only. Please refer to the official legally binding version as written and signed in German. Only the German version is definitive. Bank Austria · Annual Financial Statements 2010 151
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Annual Financial Statements 2010 of Bank Austria

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