KB prezent. angl - Komerční banka

058 ➔059
Report of the Supervisory Board
Report of the
Supervisory Board
Throughout 2003, the Supervisory Board carried out the tasks as defined by law and the Articles of Association of the
company limited by shares. It performed its supervisory functions with regard to the Bank’s activities and passed its opinions
to the Board of Directors.
Having checked the Bank’s financial statements for the period from 1 January 2003 to 31 December 2003, and on the basis
of the report of the external auditor, the Supervisory Board reports that the accounts were maintained in a transparent
manner and in accordance with generally binding regulations providing for banks book-keeping and with the Bank’s own
Articles of Association, and present a full and accurate picture of the Bank’s financial situation.
Deloitte & Touche performed an audit of the Bank’s financial statements:
– Under current Czech Accounting Standards which declared that assets and liabilities and the financial result as of
31 December 2003 were fairly and correctly stated. The report was unqualified.
– Under International Financial Reporting Standards. The report was also unqualified.
The Supervisory Board recommends that the general meeting approve the financial statements for the year 2003 as proposed
by the Board of Directors of the Bank.
The Supervisory Board checked the Report on relations between related persons in 2003 drawn up under Section 66a (9) of the
Commercial Code and states that during the accounting period from 1 January 2003 to 31 December 2003 Komerční banka, a. s.
did not suffer any harm.
Prague, 26 March 2004
On behalf of the Supervisory Board:
Didier Alix
Chairman of the Supervisory Board