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REC Annual Report 2011
155
Independent auditor's report
Renewable Energy Corporation ASA
p.
2 / 2
Opinion on the separate financial statements
In our opinion, the parent company’s financial statements are prepared in accordance with the
law and regulations and give a true and fair view of the financial position of Renewable Energy
Corporation ASA as at 31 December 2011, and of its financial performance and its cash flows for
the year then ended in accordance with the Norwegian Accounting Act and accounting standards
and practices generally accepted in Norway.
Opinion on the consolidated financial statements
In our opinion, the consolidated financial statements are prepared in accordance with the law and
regulations and give a true and fair view of the financial position of Renewable Energy
Corporation ASA and its subsidiaries as at 31 December 2011, and of its financial performance
and its cash flows for the year then ended in accordance with International Financial Reporting
Standards as adopted by the EU.
Report on Other Legal and Regulatory Requirements
Opinion on the Board of Directors’ report and Report on corporate governance
Based on our audit of the financial statements as described above, it is our opinion that the
information presented in the Board of Directors’ report and Report on corporate governance
concerning the financial statements, the going concern assumption, and coverage of the loss is
consistent with the financial statements and complies with the law and regulations.
Opinion on Accounting Registration and Documentation
Based on our audit of the financial statements as described above, and control procedures we
have considered necessary in accordance with the International Standard on Assurance
Engagements (ISAE) 3000, «Assurance Engagements Other than Audits or Reviews of Historical
Financial Information», it is our opinion that the management has fulfilled its duty to produce a
proper and clearly set out registration and documentation of the company’s accounting
information in accordance with the law and bookkeeping standards and practices generally
accepted in Norway.
Oslo, 20 March 2012
KPMG AS
Arve Gevoll
State Authorised Public Accountant