Annual Financial Report for the period from 1st of January to the 31st of December 2012
23
B. Independent Auditor’s Report
To the Shareholders of
MYTILINEOS HOLDINGS S.A
Report on the Financial Statements
We have audited the accompanying financial statements of
MYTILINEOS HOLDINGS SA.
(“the Company”)
as well as the consolidated Financial Statements of the Company and its subsidiaries, which comprise of
the individual and consolidated Statement of Financial Position as at December 31, 2012, and the Income
Statement and Statement of Comprehensive Income, changes in equity and cash flows for the year then ended
and a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these individual and consolidated
financial statements in accordance with International Financial Reporting Standards as adopted by European
Union, and for such internal control as management determines is necessary to enable the preparation of
individual and consolidated financial statements that are free from material misstatement, whether due to
fraud or error.
Auditor’s Responsibility
Management is responsible for the preparation and fair presentation of these individual and consolidated
financial statements in accordance with International Financial Reporting Standards as adopted by European
Union, and for such internal control as management determines is necessary to enable the preparation of
individual and consolidated financial statements that are free from material misstatement, whether due to
fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these individual and consolidated financial statements based on
our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
about whether the individual and consolidated financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
individual and consolidated financial statements. The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement of the individual and consolidated financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal
control relevant to the entity’s preparation and fair presentation of the individual and consolidated financial
statements in order to design audit procedures that are appropriate in the circumstances but not for the
purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates
made by management, as well as evaluating the overall presentation of the individual and consolidated
financial statements.
