Annual Report 2006 - Munters

Auditor’s reportTo the Annual General Meeting of Shareholders in Munters AB (publ)Corporate Registration Number 556041-0606We have examined the annual report, the consolidatedaccounts and accounting records, as well as the Board ofDirectors and the President’s management of Munters AB(publ) for the fiscal year 2006. The Company’s annual reportand consolidated accounts are included in the printed versionof this document on pages 1, 4–5, 8–31, and 38–65. The Boardof Directors and the President are responsible for the accountsand management of the company and for ensuring that theAnnual Accounts Act is applied in preparing the annualreport, as well as that the International Financial ReportingStandards, as adopted by the EU, and the Annual AccountsAct are applied in the preparation of the consolidatedaccounts. Our responsibility is to state an opinion on theannual report, consolidated accounts, and management of thecompany based on our audit.The audit was conducted in accordance with generallyaccepted auditing principles in Sweden. Those standardsrequire that we plan and perform the audit to obtain reasonableassurance that the annual report and consolidatedaccounts do not contain material misstatement. An auditincludes examining a selection of the supporting materials foramounts and other information in the accounting records.An audit also includes assessing the accounting principlesused and their application by the Board of Directors and thePresident, as well as judging the significant estimates madeby the Board of Directors and President when preparingthe annual report and evaluating the overall presentation ofinformation in the annual report and consolidated accounts.We examined significant decisions, actions, and conditionswithin the company in order to determine whether any liabilitytowards the company exists on the part of any director orthe President, and to determine whether they have otherwiseacted in contravention of the Swedish Companies Act, theSwedish Annual Accounts Act, or the company’s Articles ofIncorporation. We believe that our audit provides reasonablegrounds for the opinion stated below.The annual report and consolidated accounts were preparedin accordance with the Swedish Annual Accounts Act and thusprovide a true and fair picture of the company’s and the Group’sresults and financial position in accordance with generallyaccepted accounting standards in Sweden. The consolidatedaccounts have been prepared in accordance with the IFRSinternational accounting standards as adopted by the EU andthe Annual Accounts Act, and provide a true and fair picture ofthe consolidated earnings and position. The Board of Directors’report is consistent with the other parts of the annual report.We recommend that the Annual General Meeting adopt theincome statements and balance sheets of the Parent Companyand the Group, distribute earnings in the Parent Company asproposed in the Board of Directors’ report, and discharge thedirectors and the President from liability for the fiscal year.Stockholm, 7 March 2007Ernst & Young ABBjörn FernströmAuthorized Public Accountant66 M U N T E R S A N N U A L R E P O R T 2 0 0 6