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Auditor’s responsibility
Our objectives are to obtain reasonable assurance about whether the
annual accounts and consolidated accounts as a whole are free from
material misstatement, whether due to fraud or error, and to issue an
auditor’s report that includes our opinions. Reasonable assurance is a
high level of assurance, but is not a guarantee that an audit conducted
in accordance with ISAs and generally accepted auditing standards
in Sweden will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the
basis of these annual accounts and consolidated accounts.
A further description of our responsibility for the audit of the annual
accounts and consolidated accounts is available on Revisorsinspektionen’s
website www.revisorsinspektionen.se/revisornsansvar. This
description is part of the Auditor’s report.
Report on other legal and regulatory requirements
Opinions
In addition to our audit of the annual accounts and consolidated
accounts, we have also audited the administration of the Board of
Directors and the Managing Director of AAK AB (publ.) for the year
2017 and the proposed appropriations of the company’s profit or loss.
We recommend to the general meeting of shareholders that the
profit be appropriated in accordance with the proposal in the statutory
administration report and that the members of the Board of Directors
and the Managing Director be discharged from liability for the financial
year.
Basis for Opinions
We conducted the audit in accordance with generally accepted auditing
standards in Sweden. Our responsibilities under those standards
are further described in the Auditor’s Responsibilities section. We are
independent of the parent company and the group in accordance with
professional ethics for accountants in Sweden and have otherwise
fulfilled our ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our opinions.
Responsibilities of the Board of Directors and the
Managing Director
The Board of Directors is responsible for the proposal for appropriations
of the company’s profit or loss. At the proposal of a dividend,
this includes an assessment of whether the dividend is justifiable
considering the requirements which the company’s and the group’s
type of operations, size and risks place on the size of the parent company’s
and the group’s equity, consolidation requirements, liquidity
and position in general.
The Board of Directors is responsible for the company’s organization
and the administration of the company’s affairs. This includes
among other things continuous assessment of the company’s and the
group’s financial situation and ensuring that the company’s organization
is designed so that the accounting, management of assets and
the company’s financial affairs otherwise are controlled in a reassuring
manner. The Managing Director shall manage the ongoing administration
according to the Board of Directors’ guidelines and instructions
and among other matters take measures that are necessary to
fulfill the company’s accounting in accordance with law and handle
the management of assets in a reassuring manner.
Auditor’s responsibility
Our objective concerning the audit of the administration, and thereby
our opinion about discharge from liability, is to obtain audit evidence
to assess with a reasonable degree of assurance whether any member
of the Board of Directors or the Managing Director in any material
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- has undertaken any action or been guilty of any omission which can
give rise to liability to the company, or
- in any other way has acted in contravention of the Companies Act,
the Annual Accounts Act or the Articles of Association.
Our objective concerning the audit of the proposed appropriations of
the company’s profit or loss, and thereby our opinion about this, is to
assess with reasonable degree of assurance whether the proposal is
in accordance with the Companies Act.
Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with generally
accepted auditing standards in Sweden will always detect actions
or omissions that can give rise to liability to the company, or that the
proposed appropriations of the company’s profit or loss are not in
accordance with the Companies Act.
A further description of our responsibility for the audit of the
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revisorsinspektionen.se/revisornsansvar. This description is part of
the auditor´s report.
The auditor’s examination of the corporate governance statement
The Board of Directors is responsible for that the corporate governance
statement on pages 81–85 has been prepared in accordance
with the Annual Accounts Act.
Our examination of the corporate governance statement is conducted
in accordance with FAR’s auditing standard RevU 16 The
auditor’s examination of the corporate governance statement. This
means that our examination of the corporate governance statement
is different and substantially less in scope than an audit conducted in
accordance with International Standards on Auditing and generally
accepted auditing standards in Sweden. We believe that the examination
has provided us with sufficient basis for our opinions.
A corporate governance statement has been prepared. Disclosures
in accordance with chapter 6 section 6 the second paragraph points
2–6 of the Annual Accounts Act and chapter 7 section 31 the second
paragraph the same law are consistent with the other parts of the
annual accounts and consolidated accounts and are in accordance
with the Annual Accounts.
PricewaterhouseCoopers AB, Box 4009, 203 11 Malmö was
appointed auditor of AAK AB (publ.) by the general meeting of the
shareholders on the May 17, 2017 and has been the company’s
auditor since the financial year May 1, 2005–December 31, 2005.
Malmö, April 23, 2018
PricewaterhouseCoopers AB
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Authorized Public Accountant Authorized Public Accountant
Auditor in charge