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Annual Accounts /
Statutory Auditor’s Report
STATUTORY AUDITOR’S REPORT
To the shareholders
As required by law, we report to you in the context of our appointment as
the company’s Statutory Auditor. This report includes our report on the
consolidated financial statements together with our report on other legal
and regulatory requirements. These consolidated financial statements
comprise the consolidated statement of financial position as at 31.12.2013,
the consolidated statement of comprehensive income, the consolidated
statement of changes in equity and the consolidated statement of cash
flows for the year then ended, as well as the summary of significant
accounting policies and other explanatory notes.
Report on the consolidated financial statements –
Unqualified opinion
We have audited the consolidated financial statements of Cofinimmo SA/
NV (“the Company”) and its subsidiaries (jointly “the Group”), prepared in
accordance with International Financial Reporting Standards as executed
by the Royal Decree of 07.12.2010 with respect to public real estate invest-
ment trusts and with the legal and regulatory requirements applicable in
Belgium.
The consolidated statement of financial position shows total assets of
€3,670,443,000 and the consolidated income statement shows a consol-
idated net result (Group share) for the year then ended of €58,737,000.
Board of Directors’ responsibility for the preparation of the consolidated
financial statements
The Board of Directors is responsible for the preparation and fair presenta-
tion of consolidated financial statements in accordance with International
Financial Reporting Standards (IFRS) as executed by the Royal Decree of
07.12.2010 with respect to public real estate investment trusts and with
the legal and regulatory requirements applicable in Belgium, and for such
internal control as the Board of Directors determines is necessary to ena-
ble the preparation of consolidated financial statements that are free from
material misstatement, whether due to fraud or error.
Statutory auditor’s responsibility
Our responsibility is to express an opinion on these consolidated financial
statements based on our audit. We conducted our audit in accordance
with International Standards on Auditing (ISA). Those standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the consolidated financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the consolidated financial statements.
The procedures selected depend on the Statutory Auditor’s judgment,
including the assessment of the risks of material misstatement of the
consolidated financial statements, whether due to fraud or error. In mak-
ing those risk assessments, the Statutory Auditor considers internal con-
trol relevant to the Group’s preparation and fair presentation of the consol-
idated financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Group’s internal control. An audit
also includes evaluating the appropriateness of accounting policies used
and the reasonableness of accounting estimates made by the Board of
Directors, as well as evaluating the overall presentation of the consoli-
dated financial statements. We have obtained from the Group’s officials
and the Board of Directors the explanations and information necessary for
performing our audit.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Unqualified opinion
In our opinion, the consolidated financial statements of Cofinimmo SA/NV
give a true and fair view of the Group’s net equity and financial position
as of 31.12.2013, and of its results and its cash flows for the year then
ended, in accordance with International Financial Reporting Standards as
adopted by the European Union and with the legal and regulatory require-
ments applicable in Belgium.
Report on other legal and regulatory requirements
The Board of Directors is responsible for the preparation and the content of
the Directors’ report on the consolidated financial statements.
As part of our mandate and in accordance with the Belgian standard
complementary to the International Standards on Auditing applicable in
Belgium, our responsibility is to verify, in all material respects, compliance
with certain legal and regulatory requirements. On this basis, we make the
following additional statement, which does not modify the scope of our
opinion on the consolidated financial statements:
•
The Directors’ report on the consolidated financial statements
includes the information required by law, is consistent with the
consolidated financial statements and is free from material
inconsistencies with the information that we became aware of
during the performance of our mandate.
Diegem, 21.03.2014
The Statutory Auditor
DELOITTE Bedrijfsrevisoren/Réviseurs d’Entreprises
BV o.v.v.e. CVBA / SC s.f.d. SCRL
Represented by
Frank Verhaegen