Talvivaara's Auditors Report for the period 1 January - 30 June 2016
22 Settembre 2016 - 9:42AM
Stock Exchange
Release
Talvivaara Mining
Company Plc
22 September
2016
Talvivaara's
Auditors Report for the period 1 January - 30 June 2016
The Auditor's report for the
period 1 January - 30 June 2016 to the Board of Directors of
Talvivaara Mining Company Plc is the following:
The following document is an
English translation of the Finnish auditor's report.
Auditor's
Report
To the Board of
Directors of Talvivaara Mining Company Plc
We have audited the accounting
records, the interim financial statements, the report of the Board
of Directors and the administration of Talvivaara Mining Company
Plc for the period 1 January to 30 June 2016. The interim financial
statements comprise the balance sheet, income statement, statement
of changes in equity, statement of cash flows and notes to the
interim 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 interim
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 the report of the
Board of Directors in accordance with the laws and regulations
governing the preparation of 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 interim 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 interim financial statements and the report of the Board of
Directors are free from material misstatement, and whether the
members of the Board of Directors 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 interim 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 interim 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 interim 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
In our opinion,
-
the interim financial statements and the report
of the Board of Directors give a true and fair view of the
financial position, financial performance, and cash flows of the
company in accordance with International Financial Reporting
Standards (IFRS) as adopted by the EU
-
the information in the report of the Board of
Directors is consistent with the information in the interim
financial statements.
Emphasis of
Matter
We draw attention to the note 2 of
the interim financial statements which describes the basis of
preparation of the interim financial statements on a non-going
concern basis, as well as the uncertainties relating to the
Company's ability to revise its reporting basis and to regain its
status as a going concern. We also draw attention to the disclosure
"Risk management and key risks" in the report of the Board of
Directors, which describes the Company's near term risk factors
that relate to the continuance of the Company's business
operations.
Our opinion is not qualified in
respect of this matter.
Helsinki, 22 September 2016
PricewaterhouseCoopers Oy
Authorised Public Accountants
Juha Wahlroos
Authorised Public Accountant (KHT)
Lisätietoja
Talvivaaran
Kaivososakeyhtiö Oyj Puh. 020 7129 800
Pekka Perä,
toimitusjohtaja
Pekka Erkinheimo, varatoimitusjohtaja
Talvivaara Mining Company Plc -
Auditor's Report 30.6.2016
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Talvivaaran Kaivososakeyhtiö Oyj via
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