Helsinki, Finland, 2015-04-09 12:20 CEST (GLOBE NEWSWIRE) --
Ixonos Plc Stock Exchange Release 09 April 2015 at 13:20
IXONOS' 2014 AUDITOR’S REPORT
In addition to the standard format text the report includes the following additional information:
“Additional information related to emphasizing a specific issue.
We would like to draw attention to the issues described in the financial statements and the Report of the Board of Directors related to the company having been clearly unprofitable in recent years. As described in the Report of the Board of Directors the company has during the financial year and after the year-end strengthened its balance sheet and restructured its debts, whilst attempting to improve its operational profitability. The objective of these measures is to ensure the continuity of operations. There is however substantial uncertainty related to operational profitability improvements, which may cast doubt upon the company’s ability to continue its operations. Our report is however not adjusted by this point.”
The full auditor’s report is attached to this release. Ixonos' Financial Statements 2014 has been published on 20 March, 2015 and posted on the company's website at www.ixonos.com/investor/.
IXONOS PLC
Esa Harju
President and CEO
Additional Information:
Ixonos PLC, Mikael Nyberg, CFO, tel. +358 40 501 4401, mikael.nyberg@ixonos.com
Distribution:
NASDAQ OMX Helsinki
Main Media
Auditor’s Report
To the Annual General Meeting of Ixonos Oyj.
We have audited the accounting records, the financial statements, the report of the Board of Directors and the administration of Ixonos Oyj for the year ended December 31, 2014. The financial statements comprise the consolidated statement of financial position, income statement, statement of comprehensive income, statement of changes in equity and statement of cash flows, and notes to the consolidated financial statements, as well as the parent company’s balance sheet, income statement, cash flow statement and notes to the financial statements.
Responsibility of the Board of Directors and the Managing Director.
The Board of Directors and the Managing Director are responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU, as well as for the preparation of financial statements and the report of the Board of Directors that give a true and fair view in accordance with the laws and regulations governing the preparation of the financial statements and the report of the Board of Directors in Finland. The Board of Directors is responsible for the appropriate arrangement of the control of the company’s accounts and finances, and the Managing Director shall see to it that the accounts of the company are in compliance with the law and that its financial affairs have been arranged in a reliable manner.
Auditor’s Responsibility.
Our responsibility is to express an opinion on the financial statements, on the consolidated financial statements and on the report of the Board of Directors based on our audit. The Auditing Act requires that we comply with the requirements of professional ethics. We conducted our audit in accordance with good auditing practice in Finland. Good auditing practice requires that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and the report of the Board of Directors are free from material misstatement, and whether the members of the Board of Directors of the parent company or the Managing Director are guilty of an act or negligence which may result in liability in damages towards the company or whether they have violated the Limited Liability Companies Act or the articles of association of the company. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements and the report of the Board of Directors. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of financial statements and report of the Board of Directors that give a true and fair view 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 company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements and the report of the Board of Directors. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion on the Consolidated Financial Statements.
In our opinion, the consolidated financial statements give a true and fair view of the financial position, financial performance, and cash flows of the group in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU.
Opinion on the Company’s Financial Statements and the Report of the Board of Directors.
In our opinion, the financial statements and the report of the Board of Directors give a true and fair view of both the consolidated and the parent company’s financial performance and financial position in accordance with the laws and regulations governing the preparation of the financial statements and the report of the Board of Directors in Finland. The information in the report of the Board of Directors is consistent with the information in the financial statements.
Additional information related to emphasizing a specific issue.
We would like to draw attention to the issues described in the financial statements and the Report of the Board of Directors related to the company having been clearly unprofitable in recent years. As described in the Report of the Board of Directors the company has during the financial year and after the year-end strengthened its balance sheet and restructured its debts, whilst attempting to improve its operational profitability. The objective of these measures is to ensure the continuity of operations. There is however substantial uncertainty related to operational profitability improvements, which may cast doubt upon the company’s ability to continue its operations. Our report is however not adjusted by this point.
Helsinki, March 19, 2015
KPMG OY AB
Esa Kailiala
Authorised Public Accountant
