Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Furthermore: l he or she identifies and assesses the risks that the consolidated financial statements may contain material misstatements, whether these are due to fraud or error, defines and implements audit procedures to address these 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; l 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; l he or she assesses the appropriateness of the accounting methods used and the reasonableness of accounting estimates made by the management, as well as the related information provided in the consolidated financial statements; l he or she assesses the appropriateness of the 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 consolidated financial statements regarding this uncertainty or, if this information is not provided or is not relevant, he or shell shall prepare a certification with reservation or refuse to certify the financial statements; l the auditor evaluates the overall presentation of the consolidated financial statements and assesses whether the consolidated financial statements reflect underlying transactions and events so as to give a true and fair image; l concerning the financial information of the persons or entities included within the scope of consolidation, it connects the elements that it considers sufficient and appropriate to express an opinion on the consolidated financial statements. It is responsible for the management, supervision and performance of the audit of the consolidated financial statements, as well as the opinion expressed on these statements. Report of the Audit and Finance Committee We provide a report to the Audit and Finance Committee which presents the scope of the audit and the programme of work carried out, as well as the conclusions derived from our work. We also draw the attention of the committee, where applicable, to significant weaknesses in the internal control system that we have identified concerning procedures for the preparation and processing of accounting and financial information. Among the information presented in the report to the Audit and Finance Committee are the risks of material misstatements, which we deem the most significant for the audit of the consolidated financial statements for the fiscal year and that consequently constitute the key points of the audit, which we must describe in this present report. We also provide the Audit and Finance Committee with the statement referred to in Article 6 of regulation (EU) No. 537-2014 confirming our independence, within the meaning of the rules applicable in France such as they are set out in Articles L. 822-10 to L. 822-14 of the French Commercial Code and in the French Code of Ethics for Statutory Auditors. Where applicable, we discuss any risks that may threaten our independence and the safeguard measures applied with the Audit and Finance Committee.

Neuilly-sur-Seine and Courbevoie, 28 January 2021 The Statutory Auditors

PRICEWATERHOUSECOOPERS AUDIT

MAZARS

Françoise Garnier-Bel

Gilles Rainaut

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Compagnie des Alpes I 2020 Universal registration document