GRID-Arendal: Annual Report 2012

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Independent auditor's report 2012 Stiftelsen GRID-Arendal

Arendal

To the The Board of Directors in Stiftelsen GRID-

INDEPENDENT AUDITOR’S REPORT Report on the Financial Statements We have audited the accompanying financial state profit of NOK 1 235 971. The financial statements 2012, and the income statement for the year then e policies and other explanatory information. The Board of Directors and the Managing Directo The Board of Directors and the Managing Directo presentation of these financial statements in accor

Report on Other Legal and Regulatory Requireme nts Opinion on the Board of Directors’ report Based on our audit of the financial statem

ments of Stiftelsen GRID-Arendal showing a comprise the balance sheet as at 31 December nded, and a summary of significant accounting

ents as described above, it is our opinion t ectors’ report concerning the financial sta al for the allocation of the profit is consist

information presented in the Board of Dir going concern assumption and the propos financial statements and complies with the

hat the

tements, the ent with the

law and regulations.

r’s Responsibil ity for the Financial Statements r are responsible for the preparation and fair

Opinion on Accounting Registration and Document ation Based on our audit of the financial statem

dance with the Norwegian Accounting Act and accounting standards and practices generally acce pted in Norway, and for such internal control as the Board of Directors and the Managing Director determine is necessary to enable the preparation of financial statements that are free fro m material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on thes e financial statements based on our audit. We conducted our audit in accordance with laws, regu lations, and auditing standards and practices generally accepted in Norway, including Internatio nal 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 financial s tatements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The proced ures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In makin g those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the 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 ef fectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by m anagement, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtain ed is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements are prepar ed in accordance with the law and regulations and give a true and fair view of the financial posit ion of Stiftelsen GRID-Arendal as at 31 December 2012, and of its financial performance a nd its cash flows for the year then ended in accordance with the Norwegian Accounting Act a nd accounting standards and practices generally accepted in Norway.

ents as described above, and control proce with the International Standard on Assura nce ngagements Other than Audits or Reviews hat the management has fulfilled its duty t documentation of the Stiftelsen GRID-Ar h the law and bookkeeping standards and

have considered necessary in accordance Engagements (ISAE) 3000, «Assurance E Financial Information», it is our opinion t proper and clearly set out registration and accounting information in accordance wit generally accepted in Norway. Opinion on distributions and administration Based on our audit of the financial statem have considered necessary in accordance Engagements (ISAE) 3000, «Assurance E Financial Information», it is our opinion t in accordance with laws and regulations, t

dures, we

of Historical

o produce a

endal

practices

ents as described above, and control proce with the International Standard on Assura nce ngagements Other than Audits or Reviews hat the foundations administration and dis he foundations objectives and articles of a

dures, we

of Historical tributions are ssociation.

Arendal, 24 April 2013 KPMG AS

Terje H. Holst State Authorized Public Accountant

Offices in:

Sandnessjøen Stavanger Stord Straume Tromsø Trondheim Tønsberg Ålesund

Haugesund Knarvik Kristiansand Larvik Mo i Rana Molde Narvik Røros Sandefjord

Oslo Alta

Arendal Bergen Bodø

he KPMG network of independent ational Cooperative (““KPMG

KPMG AS, a Norwegian member firm of t member firms affiliated with KPMG Intern

Elverum Finnsnes Grimstad Hamar

p. 2 / 2

International””), a Swiss entity.

Den norske Revisorforening.

17

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