2011 Transparency Report

Welcome to the PwC Luxembourg Transparency Report of activities for the year ended June 30, 2011 (“2011”) which has been drafted and made public in accordance with article 73 of the Law of 18 December 2009 on the audit profession transposing into Luxembourg laws the 8th Directive on statutory audits of annual accounts and consolidated accounts adopted by the European Union in 2006, which prescribes that certain information on our legal structure, independence and quality assurance has to be made publicly available.

We fully support the Law’s requirements for greater transparency.

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© 2011-2012 PwC. All rights reserved. "PwC" refers to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL), or, as the context requires, individual member firms of the PwC network. Each member firm is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way. No member firm is responsible or liable for the acts or omissions of any other member firm nor can it control the exercise of another member firm's professional judgment or bind another member firm or PwCIL in any way.