Registration document 2007 - Total.com
Registration document 2007 - Total.com
Registration document 2007 - Total.com
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
(Free translation of a French language original)<br />
For the year ended December 31, 2005<br />
To the Shareholders,<br />
In <strong>com</strong>pliance with the mission entrusted to us by your Shareholders’ Meeting, we hereby submit our report for the year ended<br />
December 31, 2006, on:<br />
• the audit of the annual financial statements of the <strong>com</strong>pany TOTAL S.A. as attached to this report;<br />
• the reasons for our assessments;<br />
• the specific verifications and information required by law.<br />
The annual financial statements have been established by the Board of Directors. It is our responsibility, on the basis of our audit, to<br />
express an opinion on those financial statements.<br />
1. Opinion on the annual financial statements<br />
We conducted our audit in accordance with the professional standards applicable in France; those standards require that we plan and<br />
perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit consists of<br />
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing<br />
the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the<br />
financial statements. We believe that our audit provides a reasonable basis for the opinion expressed below.<br />
We hereby certify that the annual financial statements present fairly, in all material respects, in accordance with French accounting rules<br />
and practices, the results of the transactions for the past year and of the financial position and holdings of the <strong>com</strong>pany at the end of that<br />
year.<br />
2. Justification of assessments<br />
Pursuant to the provisions of Article L 823-9 of the French Commercial Code governing the justification of our assessments, we are<br />
informing you of the following items:<br />
We assessed the approaches used by your <strong>com</strong>pany to value investments in subsidiaries and affiliates as described in Note 1 to the<br />
financial statements, based on the information available to date and performed tests to verify the application of those methods. Within the<br />
framework of our assessments, we verified the reasonable nature of those estimates.<br />
The assessments were made in the context of our audit of the annual financial statements considered as a whole and, therefore,<br />
contributed to our opinion in the first part of this report.<br />
3. Specific verifications and information<br />
Appendix 3 - TOTAL S.A.<br />
Statutory auditors’ report on the annual financial statements<br />
Statutory auditors’ report on the annual financial statements<br />
11<br />
We also performed the specific verifications required by law in accordance with professional standards in France.<br />
We have no <strong>com</strong>ment regarding: the fair presentation and consistency of the financial statements with the information provided in the<br />
Management Report from the Board of Directors and in the <strong>document</strong>s transmitted to the shareholders concerning the financial position<br />
and the annual financial statements; the fair presentation of the information provided in the Management Report of the Board concerning<br />
<strong>com</strong>pensation and benefit of any kind paid to directors concerned, or concerning indemnities in relation with the <strong>com</strong>mencement,<br />
modification or termination of their responsibilities or a period of time after the end of their office.<br />
As required by French law, we have ensured that the required information concerning the purchase of investments and controlling interests<br />
and the names of the principal holders of shares and voting rights have been disclosed in the management report.<br />
Paris La Défense, April 3, <strong>2007</strong><br />
The Statutory Auditors<br />
KPMG AUDIT (Département de KPMG S.A.) ERNST & YOUNG AUDIT<br />
René Amirkhanian Gabriel Galet - Philippe Diu<br />
TOTAL - <strong>Registration</strong> Document 2006 251