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Financial statements 2011
Statement by the Audit Board
The Audit Board, set up pursuant to article 22 of the Stat-
utes of the European Investment Fund (ElF),
■
acting in accordance with the customary standards of
the audit profession,
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having designated KPMG Luxembourg S.à r.l. Cabinet
de révision agréé as external auditor of the ElF pursu-
ant to Art. 19 of the Rules of Procedure,
■
having studied the financial statements and such docu-
ments which it deemed necessary to examine in the
discharge of its duties,
■
having examined and discussed the report dated
14 March 2012 drawn up by KPMG Luxembourg
S.à r.l. Cabinet de révision agréé,
■
noting that this report gives an unqualified opinion on
the financial statements of ElF for the financial year
ending 31 December 2011,
■
having examined and discussed reports and opinions
issued by the EIF’s Internal Audit, Risk Management
and Compliance and Operational Risk functions,
■
having received assurance from the Chief Executive
in particular concerning the ef fectiveness of the in-
ternal control systems, risk management and internal
administration,
considering Articles 17, 18 and 19 of the Rules of Pro-
cedure,
hereby confirms that to the best of its knowledge and
judgement,
■
the operations of the Fund have been carried out in
compliance with the formalities and procedures laid
down in the Statutes and the Rules of Procedure;
■
the financial statements, comprising the statement of fi-
nancial position, statement of comprehensive income,
statement of changes in equity, cash flow statement,
and notes to the financial statements of the European
Investment Fund give a true and fair view of the fi -
nancial position of the Fund as regards its assets and
liabilities, and of the results of its operations for the
financial year under review.
Luxembourg, 14 March 2012
THE AUDIT BOARD
Gerard SMYTH
Bernard MAGENHANN Helmut STERMANN