|
We have audited the accompanying consolidated financial statements of Andritz AG and subsidiaries as of December 31, 2003 prepared in accordance with International Financial Reporting Standards (IFRS) of the International Accounting Standards Board. These group financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these group financial statements based on our audit. The audits of the annual accounts of Group subsidiaries were partly carried out by other auditors. As far as these subsidiaries are concerned, our opinion is based solely on the report of the other auditors.
We conducted our audit in accordance with International Standards on Auditing ("ISA”) issued by the International Federation of Accountants ("IFAC”). Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit and the reports of the other auditors provide a reasonable basis for our opinion.
In our opinion the consolidated financial statements present fairly, in all material respects, the financial position of the Group as of December 31, 2003, and of the results of its operations and its cash flows for the year then ended in accordance with International Financial Reporting Standards.
We certify that the status report is in compliance with the consolidated financial statements and that the legal requirement for the exemption from the obligation to prepare consolidated financial statements in accordance with the Austrian Commercial Code are met.
Vienna, February 17, 2004
AUDITOR TREUHAND GMBH
Wirtschaftsprüfungs- und Steuerberatungsgesellschaft
Alfons STIMPFL-ABELE Walter MÜLLER
(Austrian) Certified Public Accountants
In case that the consolidated financial statements are disclosed or handed over to a third party in a version which differs from that certified by us, our prior approval is necessary if our audit opinion is included or our audit is mentioned.
|
Help 
