BPCE - 2020 Universal Registration Document

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FINANCIAL REPORT

STATUTORY AUDITORS’ REPORT ON THE ANNUAL FINANCIAL STATEMENTS

Statutory Auditors’ report on the annual 5.7 financial statements

This is a free translation into English of the statutory auditors’ report on the financial statements of the Company issued in French and it is provided solely for the convenience of English speaking users. This report includes information specifically required by European regulation and French law, such as information about the appointment of the statutory auditors orverification of the management reportand other documents provided to shareholders. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France.

(For the year ended December 31, 2020) To the Annual General Shareholders’ Meeting, BPCE SA 50, avenue Pierre-Mendès-France 75201 Paris cedex 13

OPINION I. In compliance with the engagement entrusted to us by your annual general meeting, we have audited the accompanying financial statements of BPCE SA for the year ended December 31, 2020. In our opinion, the financial statements give a true and fair view of the assets and liabilities and of the financial position of the Company as at December 31, 2020 and of the results of its operations for the year then ended in accordance with French accounting principles. The audit opinion expressed above is consistent with our report to the Audit Committee. II. AUDIT FRAMEWORK We conducted our audit in accordance with professional standards applicable in France. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described in the Statutory Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. INDEPENDENCE We conducted our audit engagement in compliance with independence requirements of the French Commercial Code ( Code de commerce ) and the French Code of Ethics ( Code de déontologie ) for statutory auditors, for the period from January 1 st , 2020 to the date of our report and specifically we did not provide any prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014. Furthermore, the non-audit services that we provided to your Company and its controlled undertakings during the financial year that are not disclosed in the management report or in the notes to the consolidated financial statements are as follows: Deloitte & Associés: the main engagements conducted in fiscal year 2020 concerned certification, specified procedures, comfort • letters issued in connection with issuance programs, reviews of compliance procedures and the achievement of attestations and missions of independent third party on the CSR information of the management report. Mazars: the main assignmentscarried out in the 2020 financial year concernedmethodological reviewmissions in support of the Risk • Department and the Natixis MRM department, on the one hand and comfort letters issued in connectionwith issuance programs and CSR missions on the other hand. PricewaterhouseCoopersAudit: the main engagementsconducted in fiscal year 2020 concerned certification, reviews of compliance • procedures, services provided as part of restructuring measures, comfort letters issued in connection with issuance programs, tax consultations and CSR missions. BASIS FOR OPINION

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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