METKA ANNUAL REPORT 2015 - page 30-31

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Independent Auditor’s Report
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Manolis Michalios
SOEL Reg. No 25131
Dimitra Pagoni
SOEL Reg. No 30821
Β. Independent Auditor’s Report
Towards the shareholders of
METAL CONSTRUCTIONS OF
GREECE S.A.
Report on Separate and Consolidated Financial Statements
We have audited the accompanying separate and consolidated
financial statements of the METAL CONSTRUCTIONS OF GREECE
S.A. and its subsidiaries, which comprise the separate and consol-
idated statements of financial position as at December 31, 2015,
the separate and consolidated statements of comprehensive in-
come, changes in equity and cash flows for the year then ended,
and a summary of significant accounting policies and other ex-
planatory information.
Management’s Responsibility for the Separate and Consolidat-
ed Financial Statements
Management is responsible for the preparation and fair presenta-
tion of these separate and consolidated financial statements in
accordance with International Financial Reporting Standards that
have been adopted by the European Union as well as for internal
control procedures the Management defines as necessary to en-
sure the preparation of separate and consolidated financial state-
ments that are free from material misstatement, whether due to
fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these separate and
consolidated financial statements based on our audit. We con-
ducted our audit in compliance with International Standards on
Auditing. Those standards require that we comply with ethical re-
quirements and plan and perform the audit to obtain reasonable
assurance about whether the separate and consolidated financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence
about the amounts and disclosures in the separate and consoli-
dated financial statements. The procedures selected depend on
the auditor’s judgment, including the assessment of the risks of
material misstatement of the separate and consolidated financial
statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control procedures
relevant to the entity’s preparation and fair presentation of the
separate and consolidated financial statements in order to de-
sign audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effec-
tiveness of the entity’s internal control procedures. An audit also
includes evaluating the appropriateness of accounting policies
used and the reasonableness of accounting estimates made by
management, as well as evaluating the overall presentation of
the separate and consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the separate and consolidated financial state-
ments present fairly, in all material respects, the financial position
of the company METAL CONSTRUCTIONS OF GREECE S.A. and
its subsidiaries as at December 31, 2015, as well as their financial
performance and the cash flows for the year then ended in ac-
cordance with International Financial Reporting Standards that
have been adopted by the European Union.
Report on Other Legal and Regulatory Requirements
a) The Board of Directors’ Management Report includes the
corporate governance statements, which provides all the infor-
mation required by paragraph 3d of article 43a of Codified Law
2190/1920.
b) We have verified that the contents of the Board of Directors’
Management Report is consistent with the accompanying parent
and consolidated Financial Statements, in the contexts of those
stipulated by articles 43a, 108 and 37 of C.L. 2190/20.
Athens, 22nd of March 2016
The Chartered Accountants
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