Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Parent-company financial statements

Additional information - Detailed description of the responsibilities of the Statutory auditors In the context of an audit performed in accordance with the professional standards of practice applicable in France, the Statutory auditor exercises his or her professional judgement throughout the audit. Furthermore: z he or she identifies and assesses the risks that the annual financial statements may contain material misstatements, whether these are due to fraud or error, defines and implements audit procedures to address such risks and collects evidence that he or she considers sufficient and appropriate as a basis for his or her opinion. The risk of not detecting a material misstatement arising from fraud is greater than that of a material misstatement resulting from error, because fraud may involve collusion, falsification, wilful omission, false statements or circumvention of the internal control system; z the auditor reviews the internal control system relevant to the audit in order to define audit procedures that are appropriate in the circumstances, and not in order to express an opinion on the effectiveness of the internal control system; z he or she assesses the appropriateness of the accounting methods used and the reasonableness of accounting estimates made by management, as well as the related information provided in the annual financial statements; z he or she assesses the appropriateness of management’s application of the accounting principle of going concern and, depending on the evidence collected, the existence or otherwise of significant uncertainty relating to events or circumstances likely to call into question the company’s ability to continue operating. This assessment is based on the evidence collected up to the date of the auditor’s report, bearing in mind that subsequent circumstances or events could jeopardise business continuity. If the auditor identifies the existence of significant uncertainty, he or she shall draw readers’ attention to the information provided in the annual financial statements regarding this uncertainty or, if this information is not provided or is not relevant, he or she shall prepare a certification with reservation or refuse to certify the financial statements; z the auditor evaluates the overall presentation of the annual financial statements and assesses whether the annual financial statements reflect underlying operations and events so as to give a true and fair view.

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Compagnie des Alpes I 2017 Registration Document