75
Report of Independent Accountants
PwCR12000124
To the International Cooperation and Development Fund (TaiwanICDF)
We have audited the accompanying balance sheets of the International Cooperation and Develop-
ment Fund (TaiwanICDF) as of December 31, 2012 and 2011, and the related statements of revenues
and expenses, of changes in fund balances and of cash flows for the years then ended. These financial
statements are the responsibility of the TaiwanICDF’s management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with the “Rules Governing the Examination of Financial
Statements by Certified Public Accountants” and generally accepted auditing standards in the Republic
of China. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the financial position of the TaiwanICDF as of December 31, 2012 and 2011, and the results of its
operations and its cash flows for the years then ended, in conformity with the accounting policies
described in Note 2.
As described in Note 19 to the financial statements, certain assets were placed under the
custodianship of the TaiwanICDF at the request of the owners and these assets are not reflected in the
financial statements. The details of these assets are disclosed for reference purposes only.
PricewaterhouseCoopers
March 13, 2013
The accompanying financial statements are not intended to present the financial position and results of operations and cash
flows in accordance with accounting principles generally accepted in countries and jurisdictions other than Taiwan. The standards,
procedures and practices in Taiwan governing the audit of such financial statements may differ from those generally accepted
in countries and jurisdictions other than Taiwan. Accordingly, the accompanying financial statements and report of independent
accountants are not intended for use by those who are not informed about the accounting principles or auditing standards generally
accepted in Taiwan, and their applications in practice.
