2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
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Statutory auditors report on the consolidated financial statements<br />
For the year ended December 31st, <strong>2007</strong><br />
To the shareholders<br />
<strong>Haulotte</strong> Group SA<br />
L'Horme<br />
Dear shareholders,<br />
In our capacity as statutory auditors of <strong>Haulotte</strong> Group SA, we have audited the accompanying consolidated financial statements of<br />
<strong>Haulotte</strong> Group SA, for the year ended December 31st, <strong>2007</strong>.<br />
The consolidated financial statements have been approved by the Board of Directors. Our role is to express an opinion on these<br />
consolidated financial statements based on our audit.<br />
I - Opinion on the consolidated financial statements<br />
We performed our audit procedures in accordance with French professional standards. These standards require that we plan and<br />
perform audit procedures in order to obtain reasonable assurance about whether the consolidated financial statements are free<br />
of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the<br />
financial statements. An audit also includes assessing the accounting principles used and significant estimates made by<br />
management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a<br />
reasonable basis for our opinion.<br />
In our opinion, the consolidated financial statements give a true and fair view of the assets and liabilities and of the financial position<br />
of the Group as at December 31st, <strong>2007</strong> and of the results of its operations for the year then ended in accordance with IFRS as<br />
adopted by the EU.<br />
II - Justification of our assessments<br />
In accordance with the requirements of article L.823-9 of the Commercial Code relating to the justification of our assessments,<br />
we bring to your attention the following matters:<br />
• Note 3.7 (”Accounts receivables”) describes the accounting principles applicable in the case of sales with guarantees granted<br />
by <strong>Haulotte</strong> Group to financial organizations in order to facilitate the financing of its customers.<br />
We have ensured that the information provided in this note is adequate and have reviewed the appropriate application of<br />
accounting principles. To this end, we have examined the procedures implemented by <strong>Haulotte</strong> Group to identify and follow-up<br />
the related contractual commitments, obtained external confirmation from financial organizations and checked, on a test sample<br />
basis, the proper accounting translation of these operations in accordance with the relevant accounting principles.<br />
• In connection with our appraisal of the accounting principles applied by your company, we have reviewed the treatment of<br />
development costs, concerning notably capitalization, depreciation method and substantiation of recoverable value. In addition,<br />
we have ensured that note 3.2 provides appropriate information.<br />
These assessments were made in the context of our audit of the consolidated financial statements taken as a whole, and therefore<br />
contributed to the opinion we formed which is expressed in the first part of this report.<br />
III - Specific verification<br />
In accordance with professional standards applicable in France, we have also verified the information given in the Group’s<br />
management report. We have no matters to report as to its fair presentation and its consistency with the consolidated financial<br />
statements.<br />
Lyon and Paris, April 7th 2008<br />
The statutory auditors<br />
PricewaterhouseCoopers Audit Jean-Pierre Gramet<br />
Philippe Guéguen<br />
ENGLISH