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Annual financial statements
Audit certificate
Report on the annual financial statements
I have audited the enclosed annual financial statements and ac-
counts of Raiffeisen-Landesbank Tirol AG, Innsbruck, for the finan-
cial year from 1 January to 31 December 2012. The annual finan-
cial statements comprise the balance sheet to 31 December 2012,
the income statement for the financial year ending on 31 Decem-
ber 2012 and the notes.
Legal representatives’ responsibility for the an-
nual financial statements and the accounting
The company’s legal representatives are responsible for the ac-
counting and for the preparation and content of the annual finan-
cial statements, which must convey as accurate a picture as pos-
sible of the company’s assets, financial position and earnings in
conformity with the provisions of Austrian company and bank su-
pervisory law. This responsibility includes the design, implementa-
tion and maintenance of an internal audit system in so far as this
is important for the preparation of the annual financial statements
and for conveying as accurate a picture as possible of the compa-
ny’s assets, financial position and earnings, to ensure that these
are free of material misstatements resulting either from intention-
al or unintentional errors, and also the selection and application of
suitable accounting methods and the making of estimates which
appear reasonable in light of the prevailing circumstances.
The auditor’s responsibilities and description of
the nature and scope of the statutory audit of
financial statements
My responsibility is to deliver a judgement of these annual financial
statements on the basis of my audit. I conducted my audit in com-
pliance with the statutory provisions and generally accepted prin-
ciples of correct auditing prevailing in Austria. These principles re-
quire me to adhere to the code of conduct and to plan and execute
the audit in such a way that I can arrive with reasonable certainty at
a judgement as to whether the annual financial statements are free
from material misstatements.
An audit includes the performance of auditing procedures in or-
der to obtain evidence concerning the amounts and other state-
ments contained in the annual financial statements. The choice of
auditing procedures is a matter for the auditor’s due professional
discretion, taking into account their assessment of the risk of ma-
terial misstatements resulting from intentional or unintentional er-
rors. In making this risk assessment, the auditor must take into ac-
count the internal audit system, in so far as this is important for the
preparation of the annual financial statements and for conveying
an accurate a picture as possible of the company’s assets, finan-
cial position and earnings, in order to decide upon suitable audit
procedures given the prevailing circumstances, though not with a
view to delivering a judgement as to the efficacy of the company’s
internal audit system. The audit also includes a judgement of the
suitability of the accounting methods and the principal estimates
made by the company’s legal representatives and an appraisal of
the overall view conveyed by the annual financial statements.
I believe that I have gained sufficient and suitable audit evidence
for my audit to provide a reasonable basis for my audit opinion.
Audit opinion
My audit has not led to any objections. On the basis of my au-
dit findings, my judgement is that the annual financial statements
comply with the statutory provisions and convey as accurate a pic-
ture as possible of the company’s assets and financial position as
of 31 December 2012, and of the company’s earnings during the
financial year from 1 January to 31 December 2012 in conformity
with Austrian generally accepted accounting principles.
Statements concerning
the management report
I am required by law to audit the management report for its con-
formity with the annual financial statements and to ensure that the
other statements made in the management report do not convey
a false impression of the company’s situation. The audit certifi-
cate must also contain a statement as to whether the management
report is in conformity with the annual financial statements and
whether the statements it makes pursuant to Section 243a of the
UGB are accurate.
In my opinion, the management report is in conformity with the an-
nual financial statements. The statements made pursuant to Sec-
tion 243a of the UGB are accurate.
Vienna, 18 February 2013
Auditor appointed by the Österreichischen Raiffeisenverband
Richard Cvikl
Auditor
The publication or dissemination of the annual financial statements
together with my audit certificate is only permitted in the version
approved by me. Any contrary versions (e.g. abridged versions or
translations into another language) are subject to the provisions of
section 281, paragraph 2, of the UGB.