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Geschäftsbericht 2013, englisch

79auditors’ report Our audit has not led to any reservations. In our opinion, based on the information gained from the ex- amination, the annual financial statements give a true and fair view of the net assets, financial position and results of opera- tions of the cooperative in accordance with German legal re- quirements as well as the supplementary provisions contained in the articles of association, and principles of proper account­ ing. The management report is in agreement with the annual statement of accounts and on the whole provides an accurate understanding of the cooperative’s position and suitably presents the opportunities and risks of future development. Berlin, 10 March 2014 DGRV – DEUTSCHER GENOSSENSCHAFTS- UND RAIFFEISENVERBAND e. V. Gahlen Schraer Auditor Auditor We have audited the annual financial statements – comprising the balance sheet, the income statement, as well as the notes, the cash flow statement and the statement of development in equity capital – including the bookkeeping system, and the ma- nagement report of Münchener Hypothekenbank eG for the business year from 1 January to 31 December 2013. The main- tenance of the books and records and the preparation of the annual financial statements, and the management report were prepared in accordance with German commercial law and sup- plementary provisions in the articles of incorporation and are the responsibility of the cooperative’s legal representatives. Our responsibility is to express an opinion on the annual financial statements, the bookkeeping system and the management re- port based on our audit. We conducted our audit of the annual financial statements in accordance with Art. 53 (2) of the Cooperatives Act and Art. 340k and Art. 317 of the German Commercial Code and the generally accepted German standards for the audit of financial statements promulgated by the Institut der Wirtschafts­prüfer in Deutschland (IDW). Those standards require that we plan and perform the audit so that misstatements and violations which materially affect the presentation of the net assets, the financial position and results of operations as presented in the annual financial statements and in the management report are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the cooperative and evaluations of possible misstatements are taken into ac- count in the determination of audit procedures. The effective- ness of the accounting-related internal control system and evi- dence supporting the disclosures in the books and records, the annual financial statements and the management report are examined primarily on the basis of random samples within the framework of the audit. The audit includes an assessment of the accounting principles used and significant estimates made by the company’s legal representatives, as well as evaluating the overall presentation of the annual financial statements and ma- nagement report. We believe that our audit provides a suffi­ ciently safe basis for our opinion. Auditors’ Report

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