Report on the Consolidated Financial Statements
We audited the Consolidated Financial Statements of UNIQA Versicherungen AG, Vienna, for the financial year from 1 January to 31 December 2012. These Consolidated Financial Statements include the Consolidated Balance Sheet as at 31 December 2012, the Consolidated Income Statement, the Group Cash Flow Statement and the statement of changes in Group equity for the financial year ending 31 December 2012, as well as a summary of the most important methods of accounting and valuation applied and other notes.
Legal representatives' responsibility for the Consolidated Financial Statements and accounting
The legal representatives of the company are responsible for the preparation of Consolidated Financial Statements that give a true and fair view of the net assets, the financial position and the profit situation of the group in agreement with the International Financial Reporting Standards (IFRSs) as applied in the EU. This responsibility includes the design, implementation and maintenance of an internal control system, to the extent that this is important for the preparation of the consolidated statements and the negotiation of as true a picture as possible of the group's net assets, financial position and profit situation so that these consolidated statements are free from material misrepresentations, whether due to intentional or unintentional mistakes. It also includes the choice and application of suitable accounting and valuation methods and the effecting of estimates that appear appropriate under the existing circumstances.
Responsibility of the auditor and specification of the type and scope of the mandatory audit
We are responsible for rendering an audit opinion on these Consolidated Financial Statements on the basis of the audit performed by us. We executed our audit with due attention to the legal regulations applicable in Austria and the generally accepted auditing standards as well as the International Standards on Auditing (ISAs) issued by the International Auditing and Assurance Standards Board (IAASB) of the Federation of Accountants (IFAC). These principles require that we conform to the ethics of the profession and plan and execute the audit in such a manner that we can judge with a sufficient degree of certainty whether the Consolidated Financial Statements are free from material misstatements.
An audit includes the execution of audit procedures to verify the amounts and other statements in the Consolidated Financial Statements. The choice of audit procedures depends on the conscientious discretion of the auditor, taking into consideration his estimate of the chance that a material misstatement has been made, whether due to an intentional or unintentional mistake. When estimating the level of this risk, the auditor takes the internal control system into consideration to the extent that it is of significance for preparing the Consolidated Financial Statements and providing as true and fair a view as possible of the group's net assets, financial position and profit situation, in order to determine the appropriate audit procedures under the circumstances; he does not, however, give an opinion on the effectiveness of the group's internal controls. The audit also includes our evaluation of the adequacy of the accounting principles and valuation methods applied and the material estimates made by the legal representatives of the company as well as an assessment of the overall tenor of the Consolidated Financial Statements.
We believe that we obtained sufficient and suitable verification with our audit, so that our audit provides a reasonably sound basis for our opinion.
Our audit did not lead to any objections. In our opinion, based on the findings of our audit, the Consolidated Financial Statements give an accurate view of the net assets and financial position of the Group as of 31 December 2012 as well as the results of operations and cash flow for the financial year from 1 January to 31 December 2012 in accordance with the International Financial Reporting Standards (IFRSs), as applicable in the EU.
Report on the Group Management Report
Due to the prevailing statutory provisions (in Austria) the group management report must be audited as to whether it is in agreement with the consolidated financial statements and whether or not other statements in the group management report give a false impression of the situation of the group. The auditor’s opinion must also contain a statement on whether the group management report is in accordance with the consolidated financial statements and whether the statements comply with Section 243a UGB (Austrian Commercial Code).
The Group Management Report agrees with the Consolidated Financial Statements. The statements comply with Section 243a UGB (Austrian Commercial Code).
Vienna, 21 March 2013
KPMG Austria AG
Wirtschaftsprüfungs- und Steuerberatungsgesellschaft
p.p. Hans-Ulrich Brandes