Nycomed Annual Report 2008 - Takeda Pharmaceuticals ...

Nycomed Annual Report 2008 15Independent Auditor’s ReportTo the management of Nycomed S.C.A. SICAR Sociétéen Commandite par Actions LuxembourgREPORT ON THE CONSOLIDATEDFINANCIAL STATEMENTSFollowing our appointment by theManagement, we have audited theaccompanying consolidated financialstatements of Nycomed S.C.A. SICARwhich comprise the consolidated balancesheet as at 31 December 2008, and theconsolidated income statement,consolidated statement of changes inequity and the consolidated cash flowstatement for the year then ended anda summary of significant accountingpolicies and other explanatory notes.Management’s responsibility for theconsolidated financial statementsThe Management is responsible for thepreparation and fair presentation of theseconsolidated financial statements inaccordance with International FinancialReporting Standards (IFRS) as adopted bythe European Union. This responsibilityincludes: designing, implementing andmaintaining internal control relevant tothe preparation and fair presentation ofconsolidated financial statements that arefree from material misstatement, whetherdue to fraud or error; selecting and applyingappropriate accounting policies; and makingaccounting estimates that are reasonablein the circumstances.Responsibility of the“réviseur d’entreprises”Our responsibility is to express an opinionon these consolidated financial statementsbased on our audit. We conducted ouraudit in accordance with InternationalStandards on Auditing as adopted by the“Institut des Réviseurs d’Entreprises”.Those standards require that we complywith ethical requirements and plan andperform the audit to obtain reasonableassurance whether the consolidated financialstatements are free from materialmisstatement.An audit involves performing procedures toobtain audit evidence about the amountsand disclosures in the consolidated financialstatements. The procedures selected dependon the judgement of the “réviseurd’entreprises”, including the assessment ofthe risks of material misstatement of theconsolidated financial statements, whetherdue to fraud or error. In making those riskassessments, the “réviseur d’entreprises”considers internal control relevant to theentity’s preparation and fair presentation ofthe consolidated financial statements inorder to design audit procedures that areappropriate in the circumstances, but not forthe purpose of expressing an opinion on theeffectiveness of the entity’s internal control.An audit also includes evaluating theappropriateness of accounting policiesused and the reasonableness of accountingestimates made by the Management, aswell as evaluating the overall presentationof the consolidated financial statements.We believe that the audit evidence wehave obtained is sufficient and appropriateto provide a basis for our audit opinion.OpinionIn our opinion, the consolidated financialstatements give a true and fair view of thefinancial position of Nycomed S.C.A. SICARas of 31 December 2008, and of its financialperformance and its cash flows for the yearthen ended in accordance with InternationalFinancial Reporting Standards (IFRS) asadopted by the European Union.Report on other legal andregulatory requirementsThe consolidated management report,which is the responsibility of theManagement, is consistent with theconsolidated financial statements.Luxembourg, 27 February 2009ERNST & YOUNGSociété AnonymeRéviseur d’entreprisesOlivier Jordant