We have audited the consolidated ﬁnancial statements prepared by BASF SE, Ludwigshafen am Rhein, Germany, comprising the statement of income, statement of income and expense recognized in equity, balance sheet, statement of cash ﬂows, statement of equity and the Notes to the Consolidated Financial Statements together with the Group Management’s Report for the business year from January 1 to December 31, 2016. The preparation of the Consolidated Financial Statements and the Group Management’s Report in accordance with IFRSs as adopted by the European Union, and the additional requirements of German commercial law pursuant to Section 315a(1) of the German Commercial Code (HGB) are the responsibility of the parent company’s management. Our responsibility is to express an opinion on the Consolidated Financial Statements and on the Group Management’s Report based on our audit. In addition, we have been instructed to express an opinion as to whether the consolidated ﬁnancial statements comply with full IFRS.
We conducted our audit of the Consolidated Financial Statements in accordance with Section 317 HGB and German generally accepted standards for the audit of ﬁnancial statements promulgated by the Institute of Public Auditors in Germany (Institut der Wirtschaftsprüfer, IDW). Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, ﬁnancial position and results of operations in the Consolidated Financial Statements in accordance with the applicable ﬁnancial reporting framework and in the Group Management’s Report are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Group and expectations as to possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures in the Consolidated Financial Statements and the Group Management’s Report are examined primarily on a test basis within the framework of the audit. The audit includes assessing the annual ﬁnancial statements of those entities included in consolidation, the determination of entities to be included in consolidation, the accounting and consolidation principles used and signiﬁcant estimates made by the Board of Executive Directors, as well as evaluating the overall presentation of the consolidated ﬁnancial statements and the group management report. We believe that our audit provides a reasonable basis for our opinion.
Our audit has not led to any reservations.
In our opinion, based on the ﬁndings of our audit, the consolidated ﬁnancial statements comply with IFRSs as adopted by the E.U., the additional requirements of German commercial law pursuant to Section 315a(1) HGB and full IFRS and give a true and fair view of the net assets, ﬁnancial position and results of operations of the Group in accordance with these requirements. The Group Management’s Report is consistent with the Consolidated Financial Statements, conforms to legal requirements, and as a whole provides a suitable view of the Group’s position and suitably presents the opportunities and risks of future development.
Frankfurt am Main, February 21, 2017