Unilever Annual Report & Accounts and Form 20-F 2000
Unilever Annual Report & Accounts and Form 20-F 2000
Unilever Annual Report & Accounts and Form 20-F 2000
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46<br />
<strong>Unilever</strong> <strong>Annual</strong> <strong>Report</strong> & <strong>Accounts</strong> <strong>and</strong> <strong>Form</strong> <strong>20</strong>-F <strong>20</strong>00 Financial Statements<br />
<strong>Report</strong> of independent auditors<br />
<strong>Report</strong> of the auditors to the members<br />
of <strong>Unilever</strong> N.V. <strong>and</strong> <strong>Unilever</strong> PLC<br />
We have audited the accounts set out on pages 47 to 90,<br />
97 to 106 <strong>and</strong> 108 to 109.<br />
Respective responsibilities of directors <strong>and</strong> auditors<br />
As described on page 45, the directors are responsible<br />
for preparing the <strong>Annual</strong> <strong>Report</strong> & <strong>Accounts</strong> <strong>and</strong> <strong>Form</strong> <strong>20</strong>-F.<br />
This includes responsibility for preparing the accounts in<br />
accordance with applicable accounting st<strong>and</strong>ards in the<br />
Netherl<strong>and</strong>s <strong>and</strong> the United Kingdom. Our responsibilities,<br />
as independent auditors, are established by Netherl<strong>and</strong>s <strong>and</strong><br />
United Kingdom law, relevant Stock Exchange rules <strong>and</strong> by<br />
our professional guidance.<br />
We report to you our opinion as to whether the accounts<br />
give a true <strong>and</strong> fair view <strong>and</strong> are properly prepared in<br />
accordance with Book 2 of the Civil Code in the Netherl<strong>and</strong>s<br />
<strong>and</strong> the United Kingdom Companies Act 1985. We would<br />
also report to you if, in our opinion, the directors’ report<br />
was not consistent with the accounts, if proper accounting<br />
records had not been kept, if we had not received all the<br />
information <strong>and</strong> explanations we require for our audit,<br />
or if information required regarding directors’ remuneration<br />
<strong>and</strong> transactions was not disclosed.<br />
We read the other information contained in the<br />
<strong>Annual</strong> <strong>Report</strong> & <strong>Accounts</strong> <strong>and</strong> <strong>Form</strong> <strong>20</strong>-F <strong>and</strong> consider<br />
the implications for our audit report if we become aware<br />
of any material misstatements or inconsistencies with<br />
the accounts.<br />
As auditors of <strong>Unilever</strong> PLC we review whether the<br />
statement on page 32 reflects the Company’s compliance<br />
with the seven provisions of the Combined Code specified<br />
for our review by the United Kingdom’s Financial Services<br />
Authority <strong>and</strong> we report if it does not. We are not required<br />
to consider whether the directors’ statements on internal<br />
control cover all risks <strong>and</strong> controls or to form an opinion<br />
on the effectiveness of the Group’s corporate governance<br />
procedures or its risk <strong>and</strong> control procedures.<br />
Basis of opinion<br />
We conducted our audit in accordance with auditing st<strong>and</strong>ards<br />
generally accepted in the Netherl<strong>and</strong>s, the United Kingdom<br />
<strong>and</strong> the United States. An audit includes an examination,<br />
on a test basis, of evidence relevant to the amounts <strong>and</strong><br />
disclosures in the accounts. It also includes an assessment<br />
of the most important estimates <strong>and</strong> judgements made<br />
by the directors in the preparation of the accounts, <strong>and</strong><br />
of whether the accounting policies are appropriate to<br />
the Group’s circumstances, consistently applied <strong>and</strong><br />
adequately disclosed.<br />
We planned <strong>and</strong> performed our audit so as to obtain all<br />
the information <strong>and</strong> explanations which we considered<br />
necessary in order to provide us with sufficient evidence<br />
to give reasonable assurance that the accounts are free from<br />
material misstatement, whether caused by fraud or other<br />
irregularity or error. In forming our opinion we also<br />
evaluated the overall adequacy of the presentation<br />
of information in the accounts.<br />
The Netherl<strong>and</strong>s <strong>and</strong> United Kingdom opinion<br />
In our opinion, the accounts give a true <strong>and</strong> fair view of<br />
the state of affairs of the <strong>Unilever</strong> Group, <strong>Unilever</strong> N.V. <strong>and</strong><br />
<strong>Unilever</strong> PLC at 31 December <strong>20</strong>00 <strong>and</strong> of the profit, total<br />
recognised gains <strong>and</strong> cash flows of the Group for the year<br />
then ended. In our opinion the accounts of the <strong>Unilever</strong><br />
Group, <strong>and</strong> of <strong>Unilever</strong> N.V. <strong>and</strong> <strong>Unilever</strong> PLC respectively,<br />
have been properly prepared in accordance with Book 2<br />
of the Civil Code in the Netherl<strong>and</strong>s <strong>and</strong> the United Kingdom<br />
Companies Act 1985.<br />
United States opinion<br />
In our opinion, the accounts present fairly, in all material<br />
respects, the financial position of the <strong>Unilever</strong> Group<br />
at 31 December <strong>20</strong>00 <strong>and</strong> 1999, <strong>and</strong> the results of its<br />
operations, total recognised gains <strong>and</strong> its cash flows for<br />
each of the three years in the period ended 31 December<br />
<strong>20</strong>00, in accordance with the general information,<br />
Accounting St<strong>and</strong>ards <strong>and</strong> the accounting policies on<br />
pages 47 to 49.<br />
The accounting principles applied vary in certain significant<br />
respects from accounting principles generally accepted<br />
in the United States. The approximate effect of the major<br />
differences in the determination of net profit <strong>and</strong> capital<br />
<strong>and</strong> reserves is shown on page 98.<br />
PricewaterhouseCoopers N.V. PricewaterhouseCoopers<br />
Registeraccountants Chartered Accountants<br />
Rotterdam, The Netherl<strong>and</strong>s <strong>and</strong> Registered Auditors<br />
London, Engl<strong>and</strong><br />
As auditors of <strong>Unilever</strong> N.V. As auditors of <strong>Unilever</strong> PLC<br />
5 March <strong>20</strong>01