Financial report of the ECSC in liquidation at 31 December 2010. Commission staff working document accompanying the report.

Abstract

We have audited the accompanying financial statements of European Coal and Steel Community in liquidation (“ECSC in liquidation”) managed by the Economic and Financial Affairs DG (DG ECFIN) on behalf of the European Commission (the “Commission”), which comprise the balance sheet as at December 31, 2010, and the economic outturn account, statement of changes in equity and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory notes. DG ECFIN's Management responsibility for the financial statements DG ECFIN’s Management is responsible for the preparation and fair presentation of these financial statements in accordance with the accounting rules applicable to the European Communities set out in note 2. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Responsibility of the réviseur d'entreprises agréé Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.