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Financial Information concerning the Group’s Assets and Liabilities, Financial Condition andResults
Group Consolidated Financial Statements
215
Worldline
2016 Registration Document
Subsequent events
Note
31
There is no subsequent event post 2016 closing.
for the year ended December
Statutory Auditors’ report on the consolidated financial statements
20.1.2
language and is provided solely for the convenience of English speaking users.
This is a free translation into English of the statutory auditors’ report on the consolidated financial statements issued in the French
discussing the auditors’ assessments of certain significant accounting and auditing matters. These assessments were made for the
information is presented below the audit opinion on the consolidated financial statements and includes an explanatory paragraph
The statutory auditors’ report includes information specifically required by French law in such reports, whether modified or not. This
individual account captions or on information taken outside of the consolidated financial statements. This report also includes
purpose of issuing an audit opinion on the consolidated financial statements taken as a whole and not to provide separate assurance on
information relating to the specific verification of information given in the management report.
applicable in France.
This report should be read in conjunction with, and is construed in accordance with, French law and professional auditing standards
To the Shareholders,
ended December 31, 2016 on:
Annual General Meetings, we hereby report to you for the year
In compliance with the assignment entrusted to us by your
statements of Worldline;
the audit of the accompanying consolidated financial
●
the justification of our assessments;
●
the specific verification required by law.
●
these consolidated financial statements based on our audit.
the Board of Directors. Our role is to express an opinion on
These consolidated financial statements have been approved by
financial statements
Opinion on the consolidated
I.
believe that the audit evidence we have obtained is sufficient
presentation of the consolidated financial statements. We
significant estimates made, as well as evaluating the overall
also includes assessing the accounting principles used and
disclosures in the consolidated financial statements. An audit
methods, to obtain audit evidence supporting the amounts and
procedures, using sample testing techniques or other selection
material misstatement. An audit involves performing
about whether the consolidated financial statements are free of
plan and perform the audit to obtain reasonable assurance
and appropriate to provide a basis for our opinion.
standards applicable in France. Those standards require that we
We conducted our audit in accordance with professional
Reporting Standards as adopted by the European Union.
for the year then ended in accordance with International Financial
Group as at December 31, 2016 and of the results of its operations
and fair view of the financial position and assets and liabilities of the
In our opinion, the consolidated financial statements give a true
Justification of our assessments
II.
following matters:
justification of our assessments, we bring to your attention the
French Commercial Code (Code de commerce) relating to the
In accordance with the requirements of Article L.823-9 of the
to the consolidated financial statements.
related information was appropriately disclosed in Notes 1 and 2
acquisitions in accordance with IFRS 3 revised and that the
included checking the proper accounting treatment of those
consolidated financial statements of your company. Our audit
(formerly Equens) and Paysquare, and their impact on the
terms and conditions of the takeover of equensWorldline
The Note 1 to the consolidated financial statements outlines the
determine the fair value of intangible assets relating to the customer
Accordingly, the company hired an independent appraiser to
liabilities of the acquired entities, based on their fair value.
The purchase prices were allocated to the identifiable assets and
method with that used for the impairment tests.
and verifying the consistency of the discount rate calculation
of future income assumptions applied to the customer relationships,
measurement data and method used, assessing the appropriateness
independent appraiser’s report, familiarizing ourselves with the
relationships. Our procedures mainly consisted in analyzing the
these estimates were based and reviewing, on a sampling basis,
the methodology implemented and the assumptions on which
basis by the company. Our work mainly consisted in assessing
identifiable assets and liabilities was determined on a provisional
Furthermore, the allocations of the purchase price to the other
the calculations performed by the company.
management to issue judgments and use estimates and
preparation of the consolidated financial statements requires
under Section 20.1.1.6.2 of the consolidated financial statements, the
As outlined in the Note “Accounting estimates and judgments”
adjustment to the carrying amount of assets and liabilities in the
assumptions and judgments, which may result in a significant
liabilities at the closing date. This note specifies that the estimates,
as the information disclosed in the notes on contingent assets and
income and expenses recorded in the financial statements, as well
assumptions that affect the reported amount of assets and liabilities,
subsequent fiscal year, mainly concern the following items:
applied, as well as the data underlying the values in use,
in assessing the appropriateness of the methodology
Based on the information provided to us, our work consisted
and in Note 13 to the consolidated financial statements.
as described in the Note “Goodwill” under Section 20.1.1.6.2
31, 2016, was subject to impairment testing by the company,
Goodwill amounting to Euro 766.4 million as of December
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