GEOSENTRIC OYJ STOCK EXCHANGE RELEASE MARCH 31, 2010 at 15:45
GEOSENTRIC OYJ MAKES PUBLIC THE AUDITOR´S REPORT OF FY 2009
“AUDITOR´S REPORT
To the Annual General Meeting of GeoSentric Oyj
We have audited the accounting records, the financial statements, the report of
the Board of Directors, and the administration of GeoSentric Oyj for the year
ended on 31 December 2009. The financial statements comprise the consolidated
balance sheet, statement of comprehensive income, statement of changes in
equity, cash flow statement 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.
The responsibility of the Board of Directors and the Managing Director
The Board of Directors and the Managing Director are responsible for the
preparation of the financial statements and the report of the Board of Directors
and for the fair presentation of the consolidated financial statements in
accordance with International Financial Reporting Standards (IFRS) as adopted by
the EU, as well as for the fair presentation of the financial statements and the
report of the Board of Directors in accordance with 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 perform an audit in accordance with good auditing
practice in Finland, and to express an opinion on the parent company's financial
statements, on the consolidated financial statements and on the report of the
Board of Directors based on our audit. Good auditing practice requires that we
comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance 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 and the Managing Director have
complied with the Limited Liability Companies Act.
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 of the financial
statements, or of the report of the Board of Directors, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control
relevant to the entity's preparation and fair presentation of the financial
statements and the report of the Board of Directors in order to design audit
procedures that are appropriate in the circumstances. 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.
The audit was performed in accordance with good auditing practice in Finland. 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.
Without qualifying our opinion, we draw attention to note 32 in the consolidated
financial statements, which describe the assumptions and uncertainties regarding
the going concern assessment.
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 a fair view of both the consolidated and the parent
company's financial performance and financial positions in accordance with the
laws and the 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.
Salo, March 31, 2010
Ernst & Young Oy
Authorized Public Accountant Firm
Erkka Talvinko
Authorized Public Accountant”
GEOSENTRIC OYJ
Distribution:
NASDAQ OMX Helsinki
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