Report on the consolidated financial statements
We have audited the enclosed consolidated financial statements of UNIQA Insurance Group AG, Vienna, consisting of the consolidated statement of financial position as at 31 December 2015, the separate consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of cash flows and consolidated statement of changes in equity for the financial year ending on this reporting date as well as the Notes to the Consolidated Financial Statements.
Management’s responsibility for the consolidated financial statements
The legal representatives are responsible for the preparation and proper overall presentation of these consolidated financial statements in accordance with the International Financial Reporting Standards (IFRSs) as applicable in the EU, and the additional requirements of section 245a of the Austrian Commercial Code and section 80b of the Austrian Insurance Supervision Act, and for the internal controls which the legal representatives consider to be required in order to enable the preparation of consolidated financial statements that are free from material intentional or unintentional false representations.
The auditor's responsibility
Our responsibility is to provide an assessment of these consolidated financial statements based on our audit. We have conducted an audit of these financial statements in accordance with the Austrian principles of proper auditing of financial statements. These principles require the application of international audit standards (International Standards on Auditing). In accordance with these principles, we must meet the requirements for professional conduct and plan and carry out the audit of the financial statements in such a way that reasonable assurance is obtained regarding whether the consolidated financial statements are free from material misstatement.
An audit of financial statements involves performing procedures to obtain audit evidence about the amounts and other disclosures contained in the consolidated financial statements. The procedures selected depend on the auditor’s judgement. This includes an assessment of the risks of material misstatements in the consolidated financial statements, whether due to fraud or error. In evaluating these risks, the auditor takes into account the internal control system which is relevant for preparation and proper overall presentation of the consolidated financial statements by the Group in order to plan audit actions that are reasonable under the given circumstances, but not with the objective of providing an audit assessment on the effectiveness of the Group’s internal control system. An audit also includes an assessment of the reasonableness of the accounting principles applied and of the validity of the values estimated by the legal representatives in the accounting along with as assessment of the overall presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a reasonable basis for our audit assessment.
Audit opinion
Our audit did not give rise to any objections. In our opinion, the consolidated financial statements comply with the legal requirements and provide a true and fair view of the Group’s financial position and of the Groups’ earnings position as at 31 December 2015 for the financial year ending on this reporting date, in accordance with the International Financial Reporting Standards (IFRSs) as applicable in the EU and the additional requirements of section 245a of the Austrian Commercial Code and the supplementary provisions of section 80b of the Austrian Insurance Supervision Act.
Comments on the Group Management Report
Pursuant to statutory provisions, the management report for the Group is to be audited as to whether it is consistent with the consolidated financial statements and as to whether the other disclosures are not misleading with respect to the Company’s position. The auditor’s report also has to contain a statement as to whether the management report for the Group is consistent with the consolidated financial statements and whether the disclosures pursuant to Section 243a of the Austrian Commercial Code are appropriate.
In our opinion, the management report for the Group is consistent with the consolidated financial statements. The disclosures pursuant to Section 243a of the Austrian Commercial Code are appropriate.
Vienna, 18 March 2016
PwC Wirtschaftsprüfung GmbH
Liane Hirner
Wirtschaftsprüfer (Austrian Certified Public Accountant)
Disclosure, publication and duplication of the consolidated financial statements together with the auditor’s report according to Section 281(2) of the Austrian Commercial Code in a form not in accordance with statutory requirements and differing from the version audited by us is not permitted. Reference to our audit may not be made without prior written permission from us.
