We have audited the annual accounts, the accounting records and the administration of the board of directors of Första AP-fonden (CIN 802005-7538) for the financial year 2008. The Fund’s legal annual report is presented in this document in the section “Operations and results in 2008 – Directors’ report”. The board of directors is responsible for these accounts and the administration of the Fund as well as for the application of the Swedish National Pensions Act when preparing the annual accounts. Our responsibility is to express an opinion on the annual accounts and the administration based on our audit.
We conducted our audit in accordance with generally accepted auditing standards in Sweden. Those standards require that we plan and perform the audit to obtain reasonable assurance that the annual accounts are free of material misstatement. An audit includes examining, on a test basis, evidence supporting amounts and disclosures in the accounts. An audit also includes assessing the accounting principles used and their application by the board of directors and significant estimates made by the board of directors when preparing the annual accounts and consolidated accounts as well as evaluating the overall presentation of information in the annual accounts. We believe that our audit provides a reasonable basis for our opinion set out below.
The annual accounts have been prepared in accordance with the Swedish National Pensions Act and give a true and fair view of the Fund’s financial position and results of operations in accordance with generally accepted accounting principles in Sweden. The statutory administration report is consistent with the other parts of the annual accounts.
In performing this audit, we have found no reason for qualifications regarding the annual accounts, the income statements and balance sheets included therein, the accounting records or the inventory of assets, or otherwise regarding the Fund’s management by the board of directors.
We recommend that the income statement and balance sheet be adopted.
| Stockholm, 19 February 2009 | |
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| Anna Peyron Authorized Public Accountant Appointed by the Swedish Government |
Lars Bonnevier Authorized Public Accountant Appointed by the Swedish Government |
