LEGO-Group-Annual-Report-2017.pdf

In our opinion managements review includes a true and

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In our opinion, Management’s Review includes a true and fair account of the development in the operations and financial circumstances of the LEGO Group and the Parent Company, of the results for the year and of the financial position of the LEGO Group and the Parent Company as well as a descrip- tion of the most significant risks and elements of uncertainty facing the LEGO Group and the Parent Company. We recommend that the Annual Report be adopted at the Annual General Meeting. Board of Directors Jørgen Vig Knudstorp Chairman Søren Thorup Sørensen Thomas Kirk Kristiansen Deputy Chairman Eva Berneke Kjeld Kirk Kristiansen Jan Nielsen Kåre Schultz The Executive Leadership Niels B. Christiansen President and Chief Executive Officer Carsten Rasmussen Chief Operations Officer Jacob Kragh Senior Vice President Marjorie Lao Chief Financial Officer Ulrik Gernow Chief Business Transformation Officer Marko Ilincic Senior Vice President Julia Goldin Chief Marketing Officer Claus Flyger Pejstrup Senior Vice President Skip Kodak Senior Vice President Loren I. Shuster Chief People Office Eric Maugein Senior Vice President Victor Saeijs Senior Vice President 69 Management’s Statement The LEGO Group — Annual Report 2017
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Independent Auditor’s Report To the shareholders of LEGO A/S Opinion In our opinion, the Consolidated Financial Statements give a true and fair view of the Group’s financial position at 31 December 2017 and of the results of the Group’s operations and cash flows for the financial year 1 January to 31 December 2017 in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act. Moreover, in our opinion, the Parent Company Financial Statements give a true and fair view of the Parent Company’s financial position at 31 December 2017 and of the results of the Parent Company’s operations for the financial year 1 January to 31 December 2017 in accordance with the Danish Financial Statements Act. We have audited the Consolidated Financial Statements and the Parent Company Financial Statements of LEGO A/S for the financial year 1 January – 31 December 2017, which comprise Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the financial statements, including summary of significant accounting policies, for both the Group and the Parent Company, as well as statement of comprehensive income and cash flow statement for the Group (“financial statements”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional require- ments applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled
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