2010annual report - Turun Sanomat

Audit report Statement by the supervisory
board of TS-Yhtymä oy
To the General Meeting of TS Yhtymä Oy
We have audited the accounts, financial statements, annual report and the management of TS-Yhtymä Oy in the financial
year 1 January – 31 December 2010. The financial statements comprise the balance sheet of the Group and the
parent company; profit and loss account; funds statement; and notes to the accounts.
Responsibilities of the Management and Managing Director
The board of directors and the Managing Director are responsible for issuing the financial statements and the report and
for presenting truthful and adequate information in accordance with auditing standards generally accepted in Finland.
The board is responsible for setting up an appropriate control system for accounting and financial management while
the Managing Director is responsible for lawful accounting and reliable financial management.
Responsibilities of the Auditor
It is our responsibility to express an opinion on the financial statements, consolidated financial statements and annual
report based on our audit. We adhere to occupational ethics in accordance with audit laws. We conducted our audit in
accordance with auditing standards generally accepted in Finland. Those standards require that we plan and perform
the audit to obtain a reasonable assurance about whether the financial statements or annual report are free of material
misstatement, whether the board of directors in the parent company or the Managing Director committed an act or
default that may incur liability for damages with regard to the company, and whether the Companies Act or articles of
association were breached.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements
and the report, as well as other information presented therein. Test measures are selected at the discretion of the
auditor and include assessment of risks deriving from malpractice or falsehoods. In assessing these risks, the auditor observes
internal control within the company, which is significant in terms of issuing financial statements and reports that
present truthful and adequate information. The auditor assesses internal control in order to plan the audit appropriately,
not with the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement and report presentation.
To the best of our understanding, we have obtained sufficient and appropriate audit evidence on which to base our
opinion.
Opinion
In our opinion, the financial statements and the report referred to above present fairly and adequately, in all material
respects, the financial position of the Group and the parent company and the results of its operations in accordance with
accounting principles generally accepted in Finland. The information in the report and the financial statements contains
no discrepancies.
Turku, 18 March 2011
PricewaterhouseCoopers Oy
KHT community
Johan Kronberg Mika Kaarisalo
KHT KHT
Having examined the financial statements prepared for TS-Yhtymä Oy and the TS Group for the period 1 January to 31
December 2010, and the auditors’ report, the Supervisory Board recommends that the Annual General Meeting adopt
the income statement and balance sheet and consolidated income statement and balance sheet and that the profit shown
in the parent company’s balance sheet be disposed of in accordance with the Board of Directors’ proposal.
Turku, 11 April 2011
On behalf of the Supervisory Board
Keijo Virtanen
Chairman
TS Group Annual Report 2010 TS Group Annual Report 2010
46 47