Statements and reports
Report on the consolidated financial statements and parent financial statements
We have audited the consolidated financial statements and parent financial statements of Energinet.dk for the period 1 January - 31 December 2015, which comprise accounting policies, income statement, balance sheet, statement of changes in equity and notes for both the Group and the parent as well as the consolidated cash flow statement. The consolidated financial statements and the parent financial statements are presented in accordance with the Danish Financial Statements Act and the Danish Act on Energinet.dk.
Management’s responsibility for the consoli-dated financial statements and parent financial statements
Management is responsible for the preparation and fair presentation of consolidated financial statements and parent financial statements in accordance with the Dan-ish Financial Statements Act and the DanDan-ish Act on Ener-ginet.dk. Management is also responsible for the internal control which Management deems to be necessary for the preparation of consolidated financial statements and parent financial statements that are free from material misstatement, whether due to fraud or error; for selecting and applying appropriate accounting policies; and for making accounting estimates that are reasonable in the circumstances.
In addition, Management is responsible for ensuring that the transactions covered by the consolidated financial statements and the parent financial statements comply with the granting of licences, laws and other regulations as well as agreements concluded and generally accepted accounting principles.
Auditors’ responsibility
Our responsibility is to express an opinion on the consol-idated financial statements and the parent financial statements based on our audit. We conducted our audit in accordance with international auditing standards and additional requirements set out in Danish accounting legislation and generally accepted public auditing stand-ards; see the Danish Act on the Auditing of Governmen-tal Accounts etc. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance that the consolidated financial statements and the financial statements are free from material misstatement.
An audit involves performing audit procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements and the parent finan-cial statements. The procedures selected depend on the auditors’ judgement, including the assessment of the risks of material misstatement in the consolidated finan-cial statements and the parent finanfinan-cial statements, whether due to fraud or error. In making those risk
as-Internal auditors’ report
sessments, the auditors consider internal control relevant to the enterprise’s preparation and fair presentation of consolidated financial statements and parent 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 en-terprise’s internal control. An audit also includes evaluat-ing the appropriateness of accountevaluat-ing policies used and the reasonableness of accounting estimates made by Management as well as evaluating the overall presenta-tion of the consolidated financial statements and the parent financial statements.
An audit also includes assessing whether business proce-dures and internal control have been established which ensure that the transactions covered by the consolidated financial statements and the parent financial statements comply with the granting of licences, laws and other regulations as well as agreements concluded and gener-ally accepted accounting principles.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Our audit has not resulted in any qualification.
Opinion
In our opinion, the consolidated financial statements and parent financial statements give a true and fair view of the Group’s and the parent’s assets, liabilities and finan-cial position at 31 December 2015 and of the results of the Group’s and the parent’s operations as well as the Group’s cash flows for the financial year 1 January - 31 December 2015 in accordance with the Danish Financial Statements Act and the Danish Act on Energinet.dk. Fur-thermore, it is our opinion that business procedures and internal control have been established which ensure that the transactions covered by the consolidated financial statements and the parent financial statements comply with the granting of licences, laws and other regulations as well as agreements concluded and generally accepted accounting principles.
Statement on the management’s review We have read the management’s review as required by the Danish Financial Statements Act. We have not per-formed any procedures additional to the completed audit of the consolidated financial statements and parent financial statements. On this basis, we believe that the information in the management’s review is consistent with the consolidated financial statements and parent financial statements.
Fredericia, 16 March 2016 PricewaterhouseCoopers
Statsautoriseret Revisionspartnerselskab
Jens Otto Damgaard Brian Christiansen State-authorised public
accountant
State-authorised public accountant
Report on the consolidated financial state-ments, parent financial statements and man-agement’s review
We have audited the consolidated financial statements, parent financial statements and management’s review of Energinet.dk for the financial year 1 January - 31 Decem-ber 2015. The consolidated financial statements and parent financial statements comprise accounting policies, income statement, balance sheet, statement of changes in equity and notes for both the Group and the parent as well as the consolidated cash flow statement. The consol-idated financial statements, parent financial statements and management’s review are presented in accordance with the Danish Financial Statements Act and the Danish Act on Energinet.dk.
With this auditors’ report, we consider the audit of the annual report for 2015 as finalised. Rigsrevisionen may, however, decide to further investigate issues relating to this and previous financial years. In this connection, new information may become available which may lead to the reassessment of specific issues dealt with in this auditors’
report.
Management’s responsibility for the consoli-dated financial statements, parent financial statements and management’s review
Management is responsible for the preparation and fair presentation of consolidated financial statements and parent financial statements in accordance with the Dan-ish Financial Statements Act and the DanDan-ish Act on Ener-ginet.dk. This responsibility includes designing, imple-menting and maintaining internal control relevant to the preparation and fair presentation of consolidated finan-cial statements and parent finanfinan-cial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are rea-sonable in the circumstances. Furthermore, Management is responsible for the preparation of a management’s review that gives a fair account in accordance with the Danish Financial Statements Act and the Danish Act on Energinet.dk. In addition, Management is responsible for ensuring that the transactions covered by the consolidat-ed financial statements and the parent financial state-ments comply with the granting of licences, laws and other regulations as well as agreements concluded and generally accepted accounting principles.