Page 52 - Hoftex Annual Report 2018 EN
P. 52

Letter to Shareholders
Supervisory Board Report
Group Management Report Consolidated Financial Statements Annexes
Auditor’s Report
for HOFTEX GROUP AG, Hof/Saale
Audit opinion
We have audited the consolidated annual financial statements of the HOFTEX GROUP AG, Hof/Saale, and its subsidiaries (the Group) – comprising the balance sheet as of 31 December 2018, the conso- lidated income statement, the statement of changes in equity, cash flow statement and notes for the fiscal year from 1 January 2018 to 31 December 2018, including the notes to the consolidated annual financial statements for the fiscal year from 1 January 2018 to 31 December 2018, including a pre- sentation of the accounting policies. We also audited the Group management report of HOFTEX GROUP AG, Hof/Saale, for the fiscal year from 1 January 2018 to 31 December 2018. In accordance with applicable German law, we did not audit the content of the Statement on Corporate Governance pursuant to Section 289f(4) HGB included in Section 3 of the Group management report.
In our opinion, based on the results of our audit,
   • the enclosed consolidated financial statements comply with all German commercial laws and provide a true and fair view of the Group’s net assets and financial position in accordance with German principles of proper accounting as of 31 December 2018 and the results of its operations for the fiscal year from 1 January 2018 to 31 December 2018 and
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We conducted our audit of the consolidated financial statements and the Group management report in accordance with Section 317 HGB and generally accepted German standards for the audit of finan- cial statements promulgated by the Institute of Public Auditors in Germany (IDW). Our responsibility in accordance with these regulations and principles is further outlined in the “Responsibility of the auditor for auditing the consolidated financial statements and Group management report” in our auditor’s report. We are independent of the company in compliance with German commercial and labour laws and have performed all of our other professional duties under German law in accordance with these provisions. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the consolidated financial statements and the Group management report.
• the enclosed Group management report provides a true and fair view of the Group’s situation. In all material respects, this Group management report is consistent with the consolidated financial statements, complies with German statutory provisions and accurately reflects the opportunities and risks of future growth. Our audit opinion on the Group management report does not extend to the content of the Statement on Corporate Governance.
In accordance with section 322 (3) sentence 1 HGB, we declare that our audit of the consolidated financial statements has not led to any reservations.
Basis for our audit opinion





















































































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