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LISI 2011 —
115
— financial report
Documents specific to the Ordinary General Meeting
.2
Auditors’ Report, prepared in accordancewith Article L.225-235 of
the French Commercial Code, onthe Chairman of the LISI Board’s
report – Financialyear ended December 31, 2011
Dear Shareholders,
In our capacity as Auditors of LISI S.A. and in accordance with the
provisions of article L.225-235 of the French Commercial Code, we
hereby present our report on the report drafted by the Chairman of
your Company’s Board of Directors in compliance with the provisions
of article 225-37 of the French Commercial Code for the financial year
ended December 31, 2011.
It is for the Chairman to drawup and submit for the Board of Directors’
approval a report giving an account of the internal control and risk
management procedures set up within the company, and giving
any other information required under Article L.225-37 of the French
Commercial Code with particular reference to corporate governance
issues.
It is for us to:
• inform you of such observations as are called for by ourselves,
in respect of the information given in the Chairman’s Report
concerning the internal control and risk management procedures
for the preparation and processing of accounting and financial
information and
• to testify that the report includes other information required under
Article L.225-37 of the Commercial Code, while acknowledging that
it is not our duty to verify the authenticity of this other data.
We have carried out our work in accordance with the professional
standards in use in France.
Information regarding internal control and risk management
procedures relating to the drawing-up and processing
of accounting and financial information
Standards governing professional practice require that due diligence
procedures be carried out to assess the honesty of information
regarding internal control and risk management procedures relating to
the drawing up and processing of accounting and financial information
contained in the Chairman’s report. These careful evaluations largely
consist of:
• familiarizingourselveswiththe internal control andriskmanagement
procedures for the drafting and processing of the accounting and
financial information behind the information presented in the
Chairman’s report and other existing documentation;
• familiarizing ourselves with the work on which existing information
and documentation is based;
• ascertaining whether appropriate information on serious lapses
in internal controls regarding the drafting and processing of
accounting and financial information which we may have found
within the scope of our mission are appropriately included in the
Chairman’s report.
Based upon the work done, we have no observations to make
concerning the information and declarations in respect of the
company’s internal control and risk management procedures for the
preparation and processing of accounting and financial information,
as contained in the Chairman’s Report, prepared in accordance with
the last paragraph of article L.225-37 of the French Commercial code.
Additional information
We attest that the Chairman of the Board of Directors’ report includes
the other information required under Article L.225-37 of the French
Commercial Code.
Exincourt and Paris-La Défense, April 2, 2012
The Auditors
EXCO CAP AUDIT
ERNST & YOUNG ET AUTRES
Pierre Burnel
Henri-Pierre Navas
Partner
Partner