Audit office Morar Ioan Dan
Oradea, Bicazului Street, no.11
CUI : 20207990
Reg.no.CAFR : 708
INDEPENDENT AUDITOR`S REPORT
To, S.C. SINTEZA SA affiliates
Attention S.C. SINTEZA SA administrators
Oradea,str.Borsului, nr.35, J05/197/1991, CUI:67329
Report on the Individual Financial Statements
1. We have audited the accompanying individual financial statements of SC SINTEZA SA comprising individual statement of financial position (balance sheet) as at 31 December 2014, Individual Statement of Comprehensive Income, Statement of changes in individual equity, individual cash flow statement for the year then ended and notes, comprising a summary of significant accounting policies and other explanatory notes.
These relate to:
• Total equity: 76.128.801 lei
• Individual overall result of the year: 244.136 lei
Management's Responsibility for Financial Statements
2. The management is responsible for the preparation and fair presentation of these financial statements in accordance with IFRS. (OMFP No: 881/2012 on the application by the companies whose securities are admitted to trading on a regulated market, to International Financial Reporting Standards and OMFP No: 1286/2012 approving accounting regulations compliant with standards international Financial Reporting).
Also the company is responsible for internal control, which management considers necessary to enable the preparation of financial statements free of any material misstatement, whether due to fraud or error.
Auditor's Responsibility
3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. These standards require compliance with ethical requirements And the planning and conduct of the audit to obtain reasonable assurance whether the financial statements are free of any material misstatement.
4.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation and fair presentation of the entity's financial statements in order to design audit procedures appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes assessing the adequacy of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall financial statement presentation.
5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for a qualified audit opinion.
Limiting the scope of the auditor's work
6. Our audit work has been undertaken to report to shareholders the Company those matters we are required to report in a financial audit report and for no other purpose. To the extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its associates as a whole, for our audit work, for this report, or for the opinions we have formed.
7. The accompanying financial statements are intended to present the financial position and comprehensive income of the Company in accordance with accounting principles and practices contained in IFRS. Therefore, the accompanying financial statements are not designed for those who do not know IFRS accounting regulations, the regulations contained in OMFP no: 881/2012, OMFP no: 1286/2012 and the accounting policies described in the notes to the financial statements.
Report on compliance with the financial statements management report
8. According to with accounting regulations contained in IFRS and considering, OMFP no: 1286/2012 and the accounting policies described in the notes to the financial statements, we have read the report of administrators attached the financial statements. Administrator' report is not part of the financial statements.
In the Administrators' report we have not identified any financial information which is in all material respects with the information presented in the accompanying financial statements.
Business Continuity
9. In connection with the scale of productive activity and its relation to the volume of fixed assets acivelor, this aspect was taken into consideration in the context of ensuring business continuity entity given its ordinary course of business.
Opinion
10. In our opinion, the individual financial statements present fairly in all material respects the financial position of the company's individual 31 December 2014, individual comprehensive income and cash flows for the year then ended, in all material respects, in accordance with IFRS and the accounting policies described in the notes to the financial statements.
Other issues
11. This report is made solely to the company's shareholders, to report those matters we are required to report them in an auditor's report and for no other purposes. To the extent permitted by law, we do not accept or assume responsibility to anyone other than the group and towards its shareholders, for this report and for the opinions we have formed.
Financial Auditor,
dr. Ioan Dan Morar
Registered with the Chamber of Financial Auditors of Romania
with nr.708
Oradea, 24/03/2015