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Annual financial statements
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 fi-
nancial year from 1 January to 31 December 2015. These annual fi-
nancial statements comprise the balance sheet as at 31 December
2015, the income statement for the financial year ending on 31 De-
cember 2015 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, implemen-
tation and maintenance of an internal audit system in so far as
this is important for the preparation of the annual financial state-
ments and for conveying as accurate a picture as possible of the
company’s assets, financial position and earnings, to ensure that
these are free of material misstatements resulting either from in-
tentional or unintentional errors, and also the selection and ap-
plication of suitable accounting methods and the making of
estimates which appear reasonable in light of the prevailing cir-
cumstances.
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
as accurate a picture as possible of the company’s assets, finan-
cial position and earnings, in order to decide upon suitable audit
procedures in line with the prevailing circumstances, though not
with a view to delivering a judgement as to the efficacy of the com-
pany’s internal audit system. The audit also includes a judgement
of the suitability of the accounting methods and the principal esti-
mates made by the company’s legal representatives as well as
Audit opinion
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 2015, and of the company’s earnings during the
financial year from 1 January to 31 December 2015 in conformity
with Austrian generally accepted accounting principles.
Statements concerning the management re-
port
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 certificate
must also contain a statement as to whether the management re-
port is in conformity with the annual financial statements.
In my opinion, the management report is in conformity with the an-
nual financial statements.
Vienna, 22 February 2016
Auditor appointed by the Österreichischer Raiffeisenverband
Dr Matthias Trost
Auditor
The publication or dissemination of the annual financial statements
together with my audit certificate is permitted only 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.