Independent Auditor's Report
143
To: Annual General Meeting of Shareholders of Heineken N.V.
Report on the financial statements
We have audited the accompanying financial statements 2010
of Heineken N.V., Amsterdam. The financial statements include
the consolidated financial statements and the Company financial
statements. The consolidated financial statements comprise the
consolidated statement of financial position as at 31 December
2010, the consolidated income statement, the consolidated
statements of comprehensive income, changes in equity and
cash flows for the year then ended, and the notes, comprising
a summary of the significant accounting policies and other
explanatory information. The Company financial statements
comprise the Company balance sheet as at 31 December 2010,
the Company income statement for the year then ended and
the notes, comprising a summary of the accounting policies
and other explanatory information.
Management's responsibility
Management is responsible for the preparation and fair
presentation of the financial statements in accordance with
International Financial Reporting Standards as adopted by the
European Union and with Part 9 of Book 2 of the Dutch Civil
Code, and for the preparation of the report of the Executive
Board in accordance with Part 9 of Book 2 of the Dutch Civil
Code. Furthermore, management is responsible for such internal
control as it determines is necessary to enable the preparation
of the financial statements that are free from material
misstatement, whether due to fraud or error.
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 Dutch law, including the Dutch Standards
on Auditing. This requires 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 assessment of the risks of material
misstatement of the financial statements, whether due to
fraud or error. In making those risk assessments, the auditor
considers 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 presentation
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 with respect to the consolidated financial statements
In our opinion, the consolidated financial statements give a true
and fair view of the financial position of Heineken N.V. as at
31 December 2010 and of its result and its cash flows for the
year then ended in accordance with International Financial
Reporting Standards as adopted by the European Union and
with Part 9 of Book 2 of the Dutch Civil Code.
Opinion with respect to the Company financial statements
In our opinion, the Company financial statements give a true
and fair view of the financial position of Heineken N.V. as at
31 December 2010 and of its result for the year then ended
in accordance with Part 9 of Book 2 of the Dutch Civil Code.
Report on other legal and regulatory requirements
Pursuant to the legal requirements under Section 2:393 sub 5
at e and f of the Dutch Civil Code, we have no deficiencies to
report as a result of our examination whether the report of
the Executive Board, to the extent we can assess, has been
prepared in accordance with part 9 of Book 2 of this Code,
and if the information as required under Section 2:392 sub 1
at b-h has been annexed. Further, we report that the report
of the Executive Board, to the extent we can assess, is consistent
with the financial statements as required by Section 2:391 sub
4 of the Dutch Civil Code.
Amsterdam, 15 February 2011
KPMG ACCOUNTANTS N.V.
G.L.M. van Hengstum RA
Heineken N.V. Annual Report 2010