UEG Annual Report 2020 - 76

UEG Annual Report 2020
BBW Audit Report 2020
UEG GmbH
We have audited the financial statements of United European
Gastroenterology GmbH, Vienna.
These financial statements comprise the statement of financial
position as of December 31, 2020, the income statement for the
fiscal year then ended and the notes.
Based on our audit the accompanying financial statements were
prepared in accordance with the legal regulations and present
fairly, in all material respects, the assets and the financial position
of the Company as of December 31, 2020 and its financial
performance for the year then ended in accordance with Austrian
Generally Accepted Accounting Principles.
Basis for Opinion
We conducted our audit in accordance with Austrian Standards
on Auditing. Those standards require that we comply with
International Standards on Auditing (ISAs). Our responsibilities
under those regulations and standards are further described
in the " Auditor's Responsibilities for the Audit of the Financial
Statements " section of our report. We are independent of the
Company in accordance with the Austrian General Accepted Accounting
Principles and professional requirements and we have
fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have
obtained by May 17, 2021 is sufficient and appropriate to provide
a basis for our opinion by this date.
Responsibilities of Management and of the Supervisory Board
for the Financial Statements
Management is responsible for the preparation of the financial
statements in accordance with Austrian Generally Accepted
Accounting Principles, for them to present a true and fair view of
the assets, the financial position and the financial performance
of the Company and for such internal controls as management
determines are necessary to enable the preparation of consolidated
financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, management is responsible
for assessing the Company's ability to continue as a going
concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so.
The Supervisory Board is responsible for overseeing the Company's
financial reporting process.
Auditor's Responsibilities for the Audit of the Financial
Statements
Our objectives are to obtain reasonable assurance about whether
the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with International Standards on Auditing
will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users
taken on the basis of these financial statements.
As part of an audit in accordance with Austrian Standards on
Auditing, which require the application of ISAs, we exercise
professional judgment and maintain professional scepticism
throughout the audit.
We also:
* identify and assess the risks of material misstatement of the
financial statements, whether due to fraud or error, design and
perform audit procedures responsive to those risks, and obtain
audit evidence that is sufficient and appropriate to provide a
basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal
control.
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