3.33 (Objectives 3-1,3-9) The following is an auditor's report prepared in accordance with International Standards on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB): INDEPENDENT AUDITOR'S REPORT To the Shareholders of Les Meridian, Inc. We have audited the accompanying financial statements of Le Meridian, Inc. which comprise the statement of financial position as of December 31, 2011, anal the statement of comprehensive income statement of changes in equity and statement of cash flows for the year then ended, and a summary of significant accounting policie and other explanatory notes AICPA apted Chapter 3 / AUDIT REPORTS 73 Management's Responsibility for the Financial Statements Management is responsible for the preparation and fait presentation of these financial statements in accordance with international Financial Reporting Standards and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fand er et Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with international Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assement of the risk of material misstate ment of the financial statements, whether due to fraud or error. In making these risk assessments, the auditor considen internal control relevant to the entity's preparation and fair presentation of the financial statements 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 entity'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 presenta tion of the financial statements 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 financial statements give a true and fair view of the financial "Apago PDF Enhancer 2011, and of its financial perfor 31 mochows for the entented in accordance with International Financial Reporting Standards Bergen and Bergen, CPA February 20, 2012 19 Rue de Bordeaux Marseille, France a. For each of the seven distinct parts of the standard unqualified report prepared in accordance with generally accepted auditing standards in the United States, describe whether key elements of each of those seven parts are present in the audit report based on International Standards on Auditing for Les Meridian's financial statements, Required 3.33 (Objectives 3-1,3-9) The following is an auditor's report prepared in accordance with International Standards on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB): INDEPENDENT AUDITOR'S REPORT To the Shareholders of Les Meridian, Inc. We have audited the accompanying financial statements of Le Meridian, Inc. which comprise the statement of financial position as of December 31, 2011, anal the statement of comprehensive income statement of changes in equity and statement of cash flows for the year then ended, and a summary of significant accounting policie and other explanatory notes AICPA apted Chapter 3 / AUDIT REPORTS 73 Management's Responsibility for the Financial Statements Management is responsible for the preparation and fait presentation of these financial statements in accordance with international Financial Reporting Standards and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fand er et Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with international Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assement of the risk of material misstate ment of the financial statements, whether due to fraud or error. In making these risk assessments, the auditor considen internal control relevant to the entity's preparation and fair presentation of the financial statements 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 entity'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 presenta tion of the financial statements 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 financial statements give a true and fair view of the financial "Apago PDF Enhancer 2011, and of its financial perfor 31 mochows for the entented in accordance with International Financial Reporting Standards Bergen and Bergen, CPA February 20, 2012 19 Rue de Bordeaux Marseille, France a. For each of the seven distinct parts of the standard unqualified report prepared in accordance with generally accepted auditing standards in the United States, describe whether key elements of each of those seven parts are present in the audit report based on International Standards on Auditing for Les Meridian's financial statements, Required