Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS

Statutory auditors’ report on the annual financial statements

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 statutory auditor identifies and assesses the risks that the annual financial statements contain material misstatements, whether due to ❯ fraud or error, and defines and implements audit procedures for such risks and collects evidence considered sufficient and appropriate to serve as the basis of its opinion. The risk of non-detection of a material misstatement due to fraud is greater than that of a material misstatement resulting from an error given that fraud can involve collusion, falsification, voluntary omissions, false statements and the avoidance of internal controls; the statutory auditor obtains an understanding of the internal controls of relevance to the audit in order to design audit procedures that are ❯ appropriate in the circumstances, but not to express an opinion on the effectiveness of the internal controls; the statutory auditor assesses 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; the statutory auditor assesses whether the accounting convention of going concern applied by the management is appropriate, according ❯ to the collective information, whether there is any material uncertainty related to events or circumstances likely to call into question the Company’s ability to continue its operation. This assessment is based on the evidence collected up to the date of its report. However, subsequent circumstances or events could jeopardise the continuity of operations. If they conclude that there is significant uncertainty, they will draw the attention of readers of the report to the information supplied in the annual financial statements about the uncertainty or, if the information is not provided or isn’t relevant, they will provide a certification with reservations or will refuse to provide certification; the statutory auditor assesses the overall presentation of the annual financial statements and whether they reflect the underlying ❯ transactions and events so as to give a true and fair view. Audit and Risk Management Committee We submit to the Audit and Risk Management Committee a report outlining the scope of the audit work and the work programme implemented as well as the conclusions of our work. Where appropriate, we also inform it of significant weaknesses of internal control that we identified with respect to the procedures relating to the preparation and processing of accounting and financial information. The information provided in the report to the Audit and Risk Management Committee includes the risks of material misstatements that we believe are most important for the audit of the annual financial statements for the fiscal year and that are therefore the key points of the audit, which we describe in this report. We also provide the Audit and Risk Management Committee with the declaration provided for in Article 6 of Regulation (EU) no. 537-2014 confirming our independence, within the meaning of 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 of the profession of statutory auditor. Where appropriate, we discuss with the Audit and Risk Management Committee any risks to our independence and the safeguarding measures applied.

Neuilly-sur-Seine and Courbevoie, 18 March 2022

The statutory auditors

PricewaterhouseCoopers Audit Christine Billy

Mazars

Maxime Simoen

Jean-Claude Pauly

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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES