AFD_REGISTRATION_DOCUMENT_2017

AFD’S ANNUAL FINANCIAL STATEMENTS

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form an opinion. The risk of not detecting a material misstatement due to fraud is higher than it is for a material misstatement due to an error, as the fraud may involve collusion, forgery, voluntary omissions, misrepresentation or circumventing of internal controls; P they review the internal control relevant to the audit in order to define appropriate audit procedures in the circumstances, not to express an opinion on the effectiveness of the internal control; P they assess the appropriateness of the accounting methods used and the reasonableness of the accounting estimates made by management, as well as the information concerning them provided in the annual financial statements; P they assess the appropriateness of management’s application of the going concern accounting policy and, according to the items gathered, the existence or non-existence of significant uncertainty related to events or circumstances that may call into question the company’s ability to continue operations. This assessment is based on the information gathered up to the date of their report, but it should be noted that subsequent circumstances or events could jeopardise the continuity of operations. If they conclude that there is significant uncertainty, they point out that uncertainty to the readers of their report on the information provided in the annual financial statements or, if such information is not provided or is not relevant, they give a qualified certification or refuse to certify; P they assess the overall presentation of the annual financial statements and evaluate whether the annual financial statements reflect the underlying transactions and events in such a way as to give a true and fair view thereof. Report to the Audit Committee We submit a report to the Audit Committee that outlines the scope of the audit and the program put in place, as well as the conclusions arising from our work. We also point out, where appropriate, significant weaknesses in the internal controls that we have identified with respect to the procedures relating to the preparation and processing of accounting and financial information. Among the items submitted in the report to the Audit Committee are risks of material misstatement, which we consider to have been the most important for the auditing of the annual financial statements for the year and therefore constitute the key points of the audit, which it is our responsibility to describe in this report. We also provide the Audit Committee with the declaration described in Article 6 of Regulation (EU) No 537-2014 confirming our independence as defined by the rules applicable in France as laid down in particular by Articles L.822-10 to L.822-14 of the French Commercial Code and in the Code of Ethics for the profession of statutory auditor. As appropriate, we discuss with the Audit Committee the risks to our independence and the safeguards applied. Paris-La Défense, 6 April 2018 The statutory auditors KPMG S.A. MAZARS

Pascal Brouard Partner

Nicolas De Luze Partner

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REGISTRATION DOCUMENT 2017

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