VINCI - 2005 annual report

B. REPORT OF THE STATUTORY AUDITORS ON THE
PARENT COMPANY FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2005
To the Shareholders,
In accordance with our appointment as auditors by your Shareholders
General Meeting, we hereby report to you for the year ended 31 December
2005 on:
– the audit of the accompanying fi nancial statements of VINCI;
− the reasons for our conclusions;
292
VINCI 2005 ANNUAL REPORT
− the specifi c verifi cations and information required by law.
The fi nancial statements are the responsibility of the Board of Directors.
Our role is to express an opinion on these fi nancial statements, based on
our audit.
1. OPINION ON THE ANNUAL FINANCIAL STATEMENTS
We have conducted our audit in accordance with the professional standards
applicable in France. Those standards require that we plan and
perform the audit in such a way as to obtain reasonable assurance that
the fi nancial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures included in these fi nancial statements. An audit also
includes assessing the accounting principles used and signifi cant estimates
made by management, as well as evaluating the overall presenta-
2. REASONS FOR OUR CONCLUSIONS
As required by Article L.823-9 of the French Business Code regarding
disclosure of the reasons for our conclusions, we inform you of the
following:
As disclosed in Note B.3 to the fi nancial statements presenting the accounting
rules and methods relating to shares in subsidiaries and affi liates, your
Company takes provisions for impairment whenever their carrying amount
tion of the fi nancial statements. We believe that our audit provides a
reasonable basis for our opinion expressed below.
In our opinion, the fi nancial statements, referred to above, give a true
and fair view of the fi nancial position of your Company, its assets and
liabilities at 31 December 2005 and the results of its operations for the
year then ended, in accordance with accounting principles generally
accepted in France.
exceeds their value in use. We have assessed whether the estimates made
by your Company are reasonable.
These conclusions were formed as part of our audit of the annual fi nancial
statements taken as a whole and have therefore contributed to the formation
of our opinion, given in the fi rst part of this report.
3. SPECIFIC VERIFICATIONS AND INFORMATION
We have also carried out, in accordance with the professional standards
applicable in France, the procedures required by law on the
fi nancial information provided by the Board of Directors.
We have no comments to make as to the fair presentation and
conformity with the annual fi nancial statements of the information
given in the report of the Board of Directors and in the documents
addressed to the shareholders, with respect to the fi nancial position
and the annual fi nancial statements.
In accordance with the law, we have verifi ed that the appropriate
disclosures have been provided in the Board of Directors’ report with
regard to the acquisition of shares and controlling interests, and the
identity of shareholders and holders of voting rights.
Neuilly-sur-Seine and Paris, 2 March 2006
The Statutory Auditors
Deloitte & Associés Salustro Reydel
A member of KPMG International
Thierry Benoit Bernard Cattenoz Benoît Lebrun
This is a free translation into English of the Statutory Auditors’ reports issued in the French language and is provided solely for the convenience of Englishspeaking readers. The Statutory Auditors’ report includes for
the information of the reader, as required under French law in any auditor’s report, whetherqualifi ed of not, an explanatory paragraph separate from and presented below the audit opinion discussing the auditors’
assessments of certain signifi cantaccounting and auditingmatters. These assessments were considered for the purpose of issuing an audit opinion on the parent company fi nancial state-ments taken as a whole and
not to provide separate assurance on individual account caption or on information taken outside of the parent companyfi nancial statements. Such report should be read in conjunction and construed in accordance
with French law and French auditing professional standards.