RDG Annual Report 2023

RDG Annual Report 2023Rosendahl Design Group A/S Annual Report 2023 • Financial Statements Independent auditor’s report To the shareholders of Rosendahl Design Group A/S Opinion We have audited the consolidated ﬁnancial statements and the parent ﬁnancial statements of Rosendahl Design Group A/S for the ﬁnancial year 01.01.2023 - 31.12.2023, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of signiﬁcant account - ing policies, for the Group as well as the Parent, and the consolidated cash ﬂow statement. The consolidated ﬁnancial statements and the parent ﬁnancial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the consolidated ﬁnancial statements and the parent ﬁnancial statements give a true and fair view of the Group’s and the Parent’s ﬁnancial position at 31.12.2023 and of the results of their operations and the consolidated cash ﬂows for the ﬁnancial year 01.01.2023 - 31.12.2023 in accordance with the Danish Financial Statements Act. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those stand- ards and requirements are further described in the “Auditor’s responsibilities for the audit of the consolidated ﬁnancial statements and the parent ﬁnancial statements” section of this auditor’s report. We are independent of the Group in accord- ance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical require- ments applicable in Denmark, and we have fulﬁlled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management’s responsibilities for the consolidated ﬁnancial statements and the parent ﬁnancial statements Management is responsible for the preparation of consolidated ﬁnancial statements and parent ﬁnancial statements that give a true and fair view in accordance with the Danish Financial State- ments Act, and for such internal control as Management deter- mines is necessary to enable the preparation of consolidated ﬁnancial statements and parent ﬁnancial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated ﬁnancial statements and the parent ﬁnancial statements, Management is responsible for assessing the Group’s and the Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the consolidated ﬁnancial statements and the parent ﬁnancial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Auditor’s responsibilities for the audit of the consolidated ﬁnancial statements and the parent ﬁnancial statements Our objectives are to obtain reasonable assurance about whether the consolidated ﬁnancial statements and the parent ﬁnancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assur- ance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to inﬂuence the economic decisions of users taken on the basis of these consolidated ﬁnancial statements and parent ﬁnancial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the consolidated ﬁnancial statements and the parent ﬁnancial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropri - ate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrep- resentations, or the override of internal control. 54Side 53Side 55