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DOCUMENTS SPECIFIC TO THE SHAREHOLDERS’ GENERAL MEETING
8
As part of our audit conducted in accordance with the professional
standards applicable in France, the Auditor exercises his professional
judgment throughout this audit. Furthermore:
■■
the Auditor identifies and assesses the risks that the consolidated
financial statements contain material misstatements, whether
due to fraud or error, defines and implements audit procedures
to tackle these risks, and gathers the information that he/she
deems sufficient and relevant to form his/her opinion. The risk of
non-detection of a material misstatement arising from a fraud is
higher than that of a material misstatement arising from an error,
since fraud may involve collusion, forgery, deliberate omissions,
misrepresentations or the circumvention of internal control;
■■
he/she reviews the internal control relevant to the audit in order to
define appropriate audit procedures in the circumstances, and not
with the objective of expressing an opinion on the effectiveness of
the internal control;
■■
he/she assesses the appropriateness of the accounting policies
used and the reasonableness of the accounting estimates made by
management, aswell as the disclosures provided in the consolidated
financial statements;
■■
he/she assesses the appropriateness of the application by
management of the accounting principle of going concern and,
based on the information gathered, the existence or non-existence
of a significant uncertainty relating to events or circumstances
likely to undermine the company’s ability to continue its operation.
This assessment is based on information compiled up to the
date of his report, it being specified however that subsequent
circumstances or events may undermine the company’s ability to
continue as a going concern. If he/she concludes that there is a
significant uncertainty, he/she draws the attention of readers of
his report on the information provided in the consolidated financial
statements regarding this uncertainty or, if such information is not
provided or is not relevant, he/she issues a qualified opinion or
refuses to certify;
■■
he/she assesses the overall presentation of the consolidated
financial statements and appraises whether the consolidated
financial statements reflect the underlying transactions and events
such as to give a true and fair view;
■■
as regards the financial information of companies included in
the scope of consolidation, he/she gathers the information that
he/she deems sufficient and relevant to express an opinion on
the consolidated financial statements. He/she is responsible for
the management, supervision and conduct of the audit of the
consolidated financial statements and of the opinion expressed on
these financial statements.
Report to the Audit Committee
We submit a report to the Audit Committee presenting the scope
of the audit work and the program of work implemented, as well as
the findings following from our work. We also inform the Committee,
where applicable, of significant weaknesses in internal control that we
have identified as regards procedures relating to the preparation and
processing of accounting and financial information.
The report to the Audit Committee includes information on the risks
of material misstatements that we deemed to have been the most
important for the audit of the consolidated financial statements of
the financial year and which constitute the key audit matters that we
have to describe in this report.
We also submit to the Audit Committee the declaration set out in
Article 6 of Regulation (EU) No. 537-2014 confirming our independence,
within themeaning of the rules applicable in France as they are set out
in particular in Articles L. 822-10 to L. 822-14 of the French Commercial
Code and in the French Code of Ethics for Auditors. Where necessary,
we discuss with the Audit Committee the risks to our independence
and the safeguard measures applied.
Paris and Paris-La Défense, March 23, 2018
The Auditors
EXCO ET ASSOCIÉS
ERNST & YOUNG et Autres
Philippe Auchet
Pierre Jouanne
LISI 2017 FINANCIAL REPORT