AUDITOR’S REPORT
80
Statsautoriserte revisorer
Ernst & Young AS
Dronning Eufemias gate 6, NO-0191 Oslo
Postboks 1156 Sentrum, NO-0107 Oslo
A member firm of Ernst & Young Global Limited
Foretaksregisteret: NO 976 389 387 MVA
Tlf: +47 24 00 24 00
Fax:
www.ey.no
Medlemmer av Den norske revisorforening
INDEPENDENT AUDITOR’S REPORT
To the Annual Shareholders' Meeting of Jotun A/S
Report on the audit of the financial statements
Opinion
We have audited the financial statements of Jotun A/S comprising the financial statements of the parent
company and the Group. The financial statements of the parent company comprise the financial position
as at 31 December 2018, the income statement, the statement of other comprehensive income,
statements of cash flows and changes in equity for the year then ended and notes to the financial
statements, including a summary of significant accounting policies. The consolidated financial statements
comprise the financial position as at 31 December 2018, the income statement, the statement of other
comprehensive income, cash flows and changes in equity for the year then ended and notes to the
financial statements, including a summary of significant accounting policies.
In our opinion,
► the financial statements are prepared in accordance with the law and regulations;
► the financial statements present fairly, in all material respects, the financial position of the parent
company as at 31 December 2018, 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;
► the consolidated financial statements present fairly, in all material respects the financial position
of the Group as at 31 December 2018 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.
Basis for opinion
We conducted our audit in accordance with laws, regulations, and auditing standards and practices
generally accepted in Norway, including International Standards on Auditing (ISAs). Our responsibilities
under those 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 and the Group in accordance with
the ethical requirements that are relevant to our audit of the financial statements in Norway, and we have
fulfilled our ethical responsibilities as required by law and regulations. We have also complied with our
other ethical obligations in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Other information
Other information consists of the information included in the Company’s annual report other than the
financial statements and our auditor’s report thereon. The Board of Directors and Chief Executive Officer
(management) are responsible for the other information. Our opinion on the financial statements does not
cover the other information, and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information,
and, in doing so, consider whether the other information is materially inconsistent with the financial
statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If,
based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.
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