GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS

Statutory auditors’ report on the annual financial statements

The fair presentationand the consistencywith the annual financial statements of the information relating to payment terms mentioned in Article D.441-4 of the French commercial code callfor the followingcomment: As indicatedin the managementreport, this informationdoes not include insuranceand reinsuranceoperations,as your companyconsiders that they do not fall within the scope of the information to be produced, in accordancewith the circular of the Fédération Française de l’Assurance of 29 May 2017.

INFORMATION RESULTING FROM OTHER LEGAL AND REGULATORY REQUIREMENTS

Designation of the statutory auditors We were appointed statutory auditors of CAISSE NATIONALEDE RÉASSURANCEMUTUELLE AGRICOLE GROUPAMAby the general meetingof 25 June 1999 for PricewaterhouseCoopers Audit and 12 September 2000 for Mazars. At 31 December 2019,PricewaterhouseCoopersAudit was in the 21 th  year of its mission without interruption, and Mazars was in its 20 th  year.

RESPONSIBILITIES OF MANAGEMENT AND MEMBERS OF THE CORPORATE GOVERNANCE BODY CONCERNING THE ANNUAL FINANCIAL STATEMENTS

Managementis responsiblefor preparingannual financial statementspresentinga true and fair view in accordancewith French accounting rules and principlesand implementingthe internal controls that it deems necessaryfor the preparationof annual financial statementsfree of any material misstatements, whether they due to fraud or error. In connectionwith the preparation of the annual financial statements, Management is responsible for assessing the company’s ability to continue its operations; providing information on matters relating to the continued operations, where this is relevant; and for preparing financial statements based on a going concern basis, unlessManagement intends to wind up the company or discontinue operations. The Audit and Risk ManagementCommitteeis responsiblefor followingthe processof preparingfinancial informationand for monitoringthe effectivenessof internal control and risk managementsystems, as well as, where applicable, internal auditing, as regards the procedures relating to the preparation and processing of accounting andfinancial information. These annual financial statements have been approved by the Boardof Directors.

RESPONSIBILITIES OF THE STATUTORY AUDITORS RELATING TO THE AUDIT OF THE ANNUAL FINANCIAL STATEMENTS

Audit objective and approach It is our responsibilityto prepare a report on the annual financial statements.Our goal is to obtain reasonable assurance that the annual financial statementstaken as a whole do not contain any material misstatements.Reasonableassurance is a high level of assurancebut is not a guarantee that an audit performed in accordance with the professional auditing standards will always detect any material misstatement.Misstatementsmay arise as a result of fraud or error and must be regardedas beingmaterial if it can reasonablybe expected that they, individually or in the aggregate, will affect the financial decisions made by users of the financial statements on the basis of the financial statements. As specified by Article L.823-10-1of the French commercial code, our role of certifying the financial statements is not to guarantee the viability or thequality of the management of your company. As part of an audit performed in accordance with the professional auditing standards applicable in France, the statutory auditor uses professional judgement throughout this audit. In addition: the statutoryauditor identifiesand assessesthe risks that the annual financialstatementscontainmaterialmisstatements,whetherdue to ● fraud or error, and defines and implementsaudit proceduresfor such risks and collectsevidenceconsideredsufficientand appropriateto serve as the basis of its opinion. The risk of not detectinga material misstatementdue to fraud is higher than the risk of not detectinga material misstatementdue to error, as fraud may involve conspiracy,forgery, deliberateomission,misrepresentation,or non-observance of internal controls; the statutoryauditor obtainsan understandingof the internalcontrolsof relevance tothe audit in order to designaudit proceduresthat are ● appropriate in thecircumstances,but not to expressan opinion on theeffectiveness of the internal controls;

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Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES