STATUTORY AUDITORS’ REPORT
ON THE CONSOLIDATED FINANCIAL STATEMENTS
For the year ended December 31, 2014
This is a free translation into English of the Statutory Auditors’ report issued in French and is provided solely for the convenience of English speaking users. The Statutory Auditors’ report includes information speciﬁcally required by French law in such reports, whether modiﬁed or not. This information is presented below the opinion on the consolidated ﬁnancial statements and includes an explanatory paragraph discussing the Auditors’ assessments of certain signiﬁcant accounting and auditing matters. These assessments were considered for the purpose of issuing an audit opinion on the consolidated ﬁnancial statements taken as a whole and not to provide separate assurance on individual account captions or on information taken outside of the consolidated ﬁnancial statements. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France.
To the Shareholders, In compliance with the assignment entrusted to us by your Annual General Meeting, we hereby report to you, for the year ended December 31, 2014, on: – the audit of the accompanying consolidated ﬁnancial statements of Lectra SA; – the justiﬁcation of our assessments; – the speciﬁc veriﬁcation required by law. These consolidated ﬁnancial statements have been approved by the Board of Directors. Our role is to express an opinion on these consolidated ﬁnancial statements based on our audit.
of the ﬁnancial position of the Group as at December 31, 2014 and of the results of its operations for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union.
II. JUSTIFICATION OF OUR ASSESSMENTS
In accordance with the requirements of article L. 823-9 of the French Commercial Code (Code de commerce) relating to the justiﬁcation of our assessments, we bring to your attention the following matters: – Your company systematically performs impairment tests of goodwill at year end and also assesses any impairment indicators, as explained in the note 2.6 “Fixed assets impairment – Impairment tests” to the consolidated ﬁnancial statements. We have examined the ways this impairment test was implemented as well as the cash ﬂow forecasts and the assumptions upon which these forecasts were based. We veriﬁed the appropriateness of the information provided in the note 6 “Goodwill”. – As explained in the note 2.8 “Deferred income tax”, your company is led to make estimates and assumptions with respect to the evaluation of deferred tax assets. In the context of our assessments, our procedures consisted in assessing the overall consistency of the data and the underlying assumptions used to support the evaluation of these deferred tax assets and in reviewing the company’s calculations and the appropriateness of the information provided in note 11.3. These assessments were made as part of our audit of the consolidated ﬁnancial statements taken as a whole, and therefore contributed to the opinion we formed which is expressed in the ﬁrst part of this report.
I. OPINION ON THE CONSOLIDATED FINANCIAL STATEMENTS