METKA GROUP | ANNUAL REPORT 2014 - page 26-27

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Towards the shareholders of METAL CONSTRUCTIONS
OF GREECE S.A.
Report on Separate and Consolidated Financial Statements
We have audited the accompanying separate and consolidat-
ed financial statements of the METAL CONSTRUCTIONS OF
GREECE S.A. and its subsidiaries, which comprise the sepa-
rate and consolidated statements of financial position as at De-
cember 31, 2014, the separate and consolidated statements of
comprehensive income, changes in equity and cash flows for
the year then ended, and a summary of significant accounting
policies and other explanatory information.
Management’s Responsibility for the Separate and Consoli-
dated Financial Statements
Management is responsible for the preparation and fair presen-
tation 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 neces-
sary to ensure the preparation of separate and consolidated
financial statements 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
conducted our audit in compliance with International Standards
on Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reason-
able 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 con-
solidated financial statements. The proce-
dures selected depend on the auditor’s
judgment, including the assessment of the
risks of material misstatement of the sepa-
rate and consolidated financial statements,
whether due to fraud or error. In making
those risk assessments, the auditor con-
siders internal control procedures relevant
to the entity’s preparation and fair presen-
tation of the separate and consolidated
financial statements in order to design au-
dit procedures that are appropriate in the
circumstances, but not for the purpose of
expressing an opinion on the effectiveness
of the entity’s internal control procedures.
An audit also includes evaluating the ap-
propriateness of accounting policies used
and the reasonableness of accounting es-
timates made by management, as well as
evaluating the overall presentation of the
separate and consolidated financial state-
ments.
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 statements present fairly, in all material respects, the finan-
cial position of the company METAL CONSTRUCTIONS OF GREECE S.A. and its subsidiaries as at December
31, 2014, as well as their financial performance and the cash flows for the year then ended in accordance 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 information 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 accom-
panying parent and consolidated Financial Statements, in the contexts of those stipulated by articles 43a, 108
and 37 of C.L. 2190/20.
Athens, 16th of March 2015
The Chartered Accountants
Manolis Michalios
Dimitra Pagoni
SOEL Reg. No 25131
SOEL Reg. No 30821
Independent Auditor’s Report
2. Independent Auditor’s Report
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