Documents specifictotheAnnualGeneralMeeting
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148
I
LISI 2014FINANCIALREPORT
DearShareholders,
In accordance with the terms of our appointment by your general
meeting,wepresentourreportfortheyearendedDecember31,2014,on:
■■
the auditing of the financial statements of LISI, as attached to this
report;
■■
the justificationofourassessment;
■■
specificverificationsand legallyrequired information.
The financial statementswereapprovedby theBoardofDirectors. Our
role is toexpressanopinionon these financial statementsbasedonour
audit.
I.Opiniononthefinancialstatements
We have carried out our work in accordance with the professional
standards in use in France; these standards require us to apply due
diligence inobtainingreasonableassurancethatthefinancialstatements
donotcontainsignificantanomalies.Anaudit involvesverifying,through
surveys or other selectionmethods, the items supporting the figures
and informationwhich feature in the consolidated accounts. It further
involvesanassessmentof theaccountingprinciplesused,anysignificant
estimatesmadeandtheoverallpresentationofthe financialstatements.
Weconsider that the itemswehavegathered formbothasufficientand
anappropriatebasis forouropinion.
We certify that the accounts complywith French accounting rules and
principles andprovidea trueand fair viewof theearningsderived from
the company’s activityduring the year, aswell as the financial situation
andnetworth attheendofthe financialyear.
II.Justificationofourassessments
AsperarticleL.823-9of theCommercialCode regarding the justification
ofourassessments,we informyouofthe following:
Your company setsupprovisions for the impairment of equity interests
when their value inuseappears tobe less than their net book value, as
described inparagraphb "Financial fixedassets" ofNote2.1 "Accounting
rules andmethods" in the appendix. Our work consisted in assessing
the data and assumptions on which these estimates rely, reviewing
the company’s calculations, and examining management’s approval
procedures fortheseestimates.
Theseassessments formpartofour taskasAuditorsof theconsolidated
financial statements, takenasawhole, andhave thereforehelpedus to
form our unreserved opinion, as it is described in the first part of this
report.
III.Verificationsandspecificinformation
We have also carried out verifications specifically required by law, in
accordancewithFrenchprofessional regulations.
We have no comments tomake on the sincerity and consistencywith
the consolidated financial statements of the information provided in
the management report of the Board or the documents sent to the
shareholdersonthe financialpositionandthe financialstatements.
With regard to the informationsupplied inapplicationon theprovisions
ofArticleL.225-102-1of theCommercialCodeonpaymentsandbonuses
paid to corporateofficers aswell ason commitments approved in their
favor, wehave checked their consistencywith the accounts orwith the
data used in the drawing-up of these accounts, and, where relevant,
withthe itemsgatheredbyyourcompany fromcompaniescontrollingor
controlledbyyour company.On thebasisof ourwork,wevouch for the
precisionandhonestyofthis information.
In accordance with French law, we have verified that the required
information concerning the identities of the shareholders has been
disclosedtoyou inthemanagementreport.
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Auditors’ reportontheconsolidatedfinancialstatements -
FinancialyearendedDecember 31, 2014
ExincourtandParis-LaDéfense,March24,2015
TheAuditors
EXCOCAPAUDIT
ERNST&YOUNGetAutres
PhilippePourcelot
Henri-PierreNavas
