MRM - 2018 Registration document

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General information on the issuer and its capital

Statutory Auditors’report on the financial statements for the year ended 31 December 2018

After their acquisition, the equity securities are valued at their value in use, determined by the share of net position held, revalued according to the current value of the real estate assets they hold, and about its prospects. Real estate assets appraised by independent appraisers at each closing. In this context, we considered that the valuation of equity securities, related receivables and related risk provisions to be a complex exercise of management estimation and judgement and was a key audit matter.

How our audit addressed this risk

We carried out the following procedures: • verifying the appropriateness of the valuation methods used by the management; • checking, by sampling, the elements quantified in the estimation of the utility values and in particular the appraised value of properties carried by the companies; • appraising, by sampling, the recoverability of receivables related to the assessments carried out on the equity securities. • checking, if necessary, the level of depreciation withheld under the loss of value of equity securities and related receivables.

Specific Verifications

We have also performed, in accordance with professional standards applicable in France, the specific verifications required by laws and regulations.

Information given in the management report and in the other documents with respect to the financial position and the financial statements provided to shareholders We have no matters to report as to the fair presentation and the consistency with the financial statements of the information given in the management report of the Board of directors and in the other documents with respect to the financial position and the financial statements provided to the Shareholders. We attest the fair presentation and the consistency with the financial statements of the information relating to payment deadlines mentioned in Article D.441-4 of the French Commercial Code ( Code de commerce ). Report on corporate governance We attest that the Board of directors’report on corporate governance sets out the information required by Articles L.225-37-3 and L.225-37-4 of the French Commercial Code ( Code de commerce ). Concerning the information given in accordance with the requirements of Article L.225-37-3 of the French Commercial Code ( Code de commerce ) relating to remunerations and benefits received by the directors and any other commitments made in their favour, we have verified its consistency with the financial statements, or with the underlying information used to prepare these financial statements and, where applicable, with the information obtained by your company from controlling and controlled companies. Based on these procedures, we attest the accuracy and fair presentation of this information. With respect to the information relating to items that your company considered likely to have an impact in the event of a public purchase offer or exchange, provided pursuant to Article L.225-37-5 of the French Commercial Code ( Code de commerce ), we have agreed these to the source documents communicated to us. Based on our work, we have no observations to make on this information. Other information In accordance with French law, we have verified that the required information regarding the purchase of investments and controlling interests and the identity of the shareholders and holders of the voting rights has been properly disclosed in the management report.

M.R.M. 2018 REGISTRATION DOCUMENT

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