Annual Report 2010 - AdP

Legal Certification of Individual Accounts
Alves da Cunha, A. Dias & Associados
Statutory Auditors
Introduction
Legal Certification of Individual Accounts
1. We have audited the individual financial statements of AdP - Águas de Portugal, SGPS, S.A., which include the
Financial Position Statement on 31 December 2010 (with a total of 1,156,488 thousand euros, total shareholder
equity of 518,607 thousand euros, and a net income of 27,344 thousand euros), the Income Statement by
Nature and Comprehensive Income Statement, the Changes in Total Equity Statement, the Cash Flow
Statement for the period ending on this date and the Notes to the Financial Statements.
Responsibilities
2. It is the Board of Directors’ responsibility to prepare financial statements that truly and adequately represent
the financial position of the company, the result of its operations and cash flow, as well as the adoption of
appropriate accounting policies and criteria and the maintenance of an appropriate internal control system.
3. Our responsibility is to express a professional and independent opinion based on our audit of these financial
statements.
Scope
4. The audit we carried out was performed according to the Technical Standards and Revision/Audit Guidelines of
the Ordem dos Revisores Oficiais de Contas (Portuguese Institute of Statutory Auditors), which require that
audits be planned and performed for the purpose of determining, with an acceptable degree of safety, whether
the financial statements are free of material misstatements. To this end, the aforementioned audit included:
- verifying the support, through sampling, for the amounts and disclosures contained in the financial statements
and assessing the estimates used in their preparation, as based on judgements and criteria defined by the Board
of Directors;
- evaluating whether the adopted accounting policies and their disclosure are appropriate under the circumstances;
- verifying the applicability of the going concern principle; and
- evaluating whether the presentation of the financial statements is appropriate, in overall terms.
5. Our audit also included a verification of the consistency between the financial information in the annual report
and in the financial statements.
6. We believe that the audit we performed provides an acceptable basis for expressing our opinion.
Civil Society registered with the List of Statutory Auditors under no. 74 / Registered in the Securities Commission (CMVM) Auditors’ Registry under no. 2699
Rua Américo Durão, 6 - 8° Esq. – 1900-064 Lisbon, Portugal – Email: acad.sroc@netcabo.pt
Telephone: 21 840 84 32 – 21 840 32 34 – Fax: 21 847 07 80 – Taxpayer ID (NIPC): PT 502 289 740
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