Universal Registration Document 2019

gathers the information that he deems sufficient and relevant to formhis/her opinion. The risk of non-detection of amaterial misstatement arising from a fraud is higher than that of a material misstatement arising froman error, since fraudmay involve collusion, forger y, 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, as well as the disclosures provided in the Company 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/her 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/her report on the information provided in the Company 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 Company financial statements and appraises whether the Company financial statements reflect the underlying transactions and events such as to give a true and fair view; Report to the Audit Committee We submit a report to the Audit Committee presenting the scope of the audit work and the programof work implemented, aswell as the findings following fromour 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 Company 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 the meaning 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 the risks to our independence and the safeguard measures applied with the Audit Committee. Paris and Paris-La Défense, March 31, 2020 The Auditors EXCO ET ASSOCIES ERNST & YOUNG et Autres Pierre Burnel Pierre Jouanne 94 LISI 2019 UNIVERSAL REGISTRATION DOCUMENT Company financial statements 3