BPCE_REGISTRATION_DOCUMENT_2017

5 FINANCIAL REPORT

Statutory Auditors’ report on the consolidated financial statements

Verification of the Information Pertaining to the Group Presented in the Management Report As requiredby law, we have also verified in accordancewith professionalstandardsapplicablein France the informationpertainingto the Group presented inthe managementreport of theGroup. We haveno matters to report as to its fair presentation and its consistencywith theconsolidatedfinancial statements.

Report on Other Legal and Regulatory Requirements

Appointment of the Statutory Auditors We were appointedas statutoryauditors of BPCE by the annual general meeting of BPCE held on May

22, 2015 for Deloitte & Associés and on

July 2, 2009 for PricewaterhouseCoopers Audit.

As at December 31, 2017, Deloitte & Associés was in the third year of total uninterruptedengagement,PricewaterhouseCoopersAudit in the ninth. Mazars was appointedas statutory auditor in the first statutes dated December 19, 2006 of GCE Nao (whose corporate name became BPCE in July 2009), upon its incorporation. As at December 31, 2017, Mazars was in the eleventh year of total uninterruptedengagement,including 9 year since the company became a public-interestentity. Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements Managementis responsiblefor the preparationand fair presentationof the consolidatedfinancial statementsin accordancewith International FinancialReportingStandardsas adoptedby the EuropeanUnion, and for such internalcontrolas managementdeterminesis necessaryto enable the preparation of consolidated financial statements that are freefrom material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless it is expected to liquidate the Company or to cease operations. The Audit Committeeis responsiblefor monitoringthe financialreportingprocessand the effectivenessof internalcontroland risks management systems and where applicable, its internalaudit, regarding the accounting and financialreporting procedures. The consolidatedfinancial statements were approved by the Management Board. Objectives and audit approach Our role is to issue a report on the consolidated financial statements. Our objective is to obtain reasonable assurance about whether the consolidatedfinancialstatementsas a whole are free frommaterialmisstatement.Reasonableassuranceis a high level of assurance,but is not a guarantee that an audit conducted in accordance with professional standards will always detect a material misstatement when it exists. Misstatementscan arise from fraud or error and are consideredmaterialif, individuallyor in the aggregate,they could reasonablybe expectedto influence the economic decisions of users taken on the basis of these consolidated financialstatements. As specified in Article L. 823-10-1 of the French CommercialCode (code de commerce),our statutory audit does not include assurance on the viability of the Company or the quality of management of the affairsof the Company. As part of an audit conducted in accordance with professional standards applicable in France, the statutory auditor exercises professional judgment throughoutthe audit and furthermore: identifiesand assesses the risks of materialmisstatementof the consolidatedfinancialstatements,whether due to fraud or error, designs and ● performs audit proceduresresponsiveto those risks, and obtains audit evidence consideredto be sufficientand appropriateto provide a basis for his opinion.The risk of not detectinga materialmisstatementresultingfrom fraud is higher than for one resultingfrom error, as fraud may involve collusion,forgery,intentional omissions, misrepresentations, or the override of internal control; obtains an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the ● circumstances, but not for the purposeof expressing an opinion on the effectiveness of the internal control; evaluates the appropriatenessof accounting policies used and the reasonablenessof accounting estimates and related disclosures made by ● managementin the consolidatedfinancial statements; assesses the appropriatenessof management’s use of the going concern basis of accounting and, based on the audit evidence obtained, ● whethera materialuncertaintyexists related to events or conditionsthat may cast significantdoubt on the Company’sability to continueas a going concern.This assessmentis based on the audit evidenceobtainedup to the date of his audit report. However,future events or conditions may cause the Companyto cease to continueas a going concern.If the statutoryauditor concludesthat a materialuncertaintyexists, there is Statutory Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements

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Registration document 2017