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`ACTELION ANNUAL REPORT
`
`2013
`
`REPORT OF THE STATUTORY AUDITOR ON
`THE FINANCIAL STATEMENTS
`To the General Meeting of Actelion Ltd, Allschwil
`
`As statutory auditor, we have audited the financial statements of Actelion Ltd, which comprise the balance sheet, income
`statement and notes (pages 68 to 78) for the year ended December 31, 2013.
`
`Board of Directors’ responsibility
`The Board of Directors is responsible for the preparation of the financial statements in accordance with the
`requirements of Swiss law and the company’s articles of incorporation. This responsibility includes designing,
`implementing and maintaining an internal control system relevant to the preparation of financial statements that are
`free from material misstatement, whether due to fraud or error. The Board of Directors is further responsible for
`selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the
`circumstances.
`
`Auditor’s responsibility
`Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in
`accordance with Swiss law and Swiss Auditing Standards. Those standards require that we plan and perform the audit to
`obtain reasonable assurance whether the financial statements are free from material misstatement.
`
`An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
`statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of
`material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the
`auditor considers the internal control system relevant to the entity’s preparation of the financial statements in order to
`design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on
`the effectiveness of the entity’s internal control system. An audit also includes evaluating the appropriateness of the
`accounting policies used and the reasonableness of accounting estimates made, as well as evaluating the overall
`presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and
`appropriate to provide a basis for our audit opinion.
`
`
`
`Opinion
`In our opinion, the financial statements for the year ended December 31, 2013, comply with Swiss law and the company’s
`articles of incorporation.
`
`Report on other legal requirements
`We confirm that we meet the legal requirements on licensing according to the Auditor Oversight Act (AOA) and
`independence (Art. 728 Code of Obligations (CO) and Art. 11 AOA) and that there are no circumstances incompatible with
`our independence.
`
`In accordance with article 728a paragraph 1 item 3 CO and Swiss Auditing Standard 890, we confirm that an internal
`control system exists, which has been designed for the preparation of financial statements according to the instructions
`of the Board of Directors.
`
`We further confirm that the proposed appropriation of available earnings complies with Swiss law and the company’s
`articles of incorporation. We recommend that the financial statements submitted to you be approved.
`
`Ernst & Young Ltd
`
`
`
`
`Pramit Mehta
`Licensed audit expert
`(Auditor in charge)
`
`
`
`Basel, February 7, 2014
`
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`
` René Buchmann
`
`Licensed audit expert
`
`80
`
`FINANCIAL REPORT.
`
`81
`
`WATSON LABORATORIES, INC. , IPR2017-01621, Ex. 1070, p. 81 of 82
`
`

`

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`Actelion Pharmaceuticals Ltd
`Gewerbestrasse 16
`CH-4123 Allschwill
`Switzerland
`
`Phone +41 61 565 65 65
`Fax +41 61 565 65 00
`info@actelion.com
`www.actelion.com
`
`All trademarks are legally protected
`Copyright ©2014 Actelion Pharmaceuticals Ltd
`
`Details of Actelion Worldwide can be found on
`www.actelion.com
`
`WATSON LABORATORIES, INC. , IPR2017-01621, Ex. 1070, p. 82 of 82
`
`