Plastic Omnium - 2018 Registration Document

5 2018 STATUTORY ACCOUNTS Statutory Auditors’ report on the financial statements PLASTIC OMNIUM 2018 REGISTRATION DOCUMENT 251 KEY AUDIT MATTERS A provision for impairment is made when the value in use or the likely realizable value is lower than Net book value. ● Value in use is determined by taking into account the share of net equity and profit outlook in view of current market conditions as set out in the ● subsidiaries’ medium-term business plans. The valuation of equity investments is considered to be a key audit matter given the importance of equity investments in the balance sheet and because ● of the judgments to be made by management to estimate the profit outlook of the subsidiaries. OUR RESPONSE Our work consisted in: Comparing the net book value of equity securities with the net equity of these companies; ● Assessing the existence of indication of impairment by ● interviewing the Group’s Finance Department on the results and profit outlook of the different companies, ● assessing the minutes of the meetings of the Board of Directors of Compagnie Plastic Omnium. ● Assessing, when applicable, the valuation methodology and the arithmetical accuracy of the calculation of the recoverable value and verifying the ● consistency of assumptions used with the economic environment at the reporting and closing dates. SPECIFIC VERIFICATIONS We also carried out, in accordance with the professional standards applicable in France, the specific verifications provided for in French law and regulations. INFORMATION GIVEN IN THE MANAGEMENT REPORT AND OTHER DOCUMENTS SENT TO SHAREHOLDERS ON THE FINANCIAL POSITION AND THE FINANCIAL STATEMENTS We have no observations 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 addressed to the shareholders with respect to the financial position and the financial statements sent to shareholders. We state that the information related to payment terms mentioned in article D. 441-4 of the French Commercial Code is accurate and consistent with the financial statements. Regarding the information related to items that your company believes likely to have an impact in the event of a public offering or exchange offer, provided in accordance with the provisions of article L. 255-37-5 of the French Commercial Code, we verified the consistency of this information in the documents which have been sent to us. Based on this work, we have no comment to make about the information. REPORT ON CORPORATE GOVERNANCE We confirm the existence, in the Board of Directors report on corporate governance, the information required by Articles L. 225-37-3 and L. 225-37-4 of the French Commercial Code (Code de commerce). With regard to the information provided pursuant to the provisions of Article L. 225-37-3 of the French Commercial Code (Code de commerce) on compensation and benefits paid to corporate officers and the commitments made in their favor, we verified their consistency with the financial statements or with the data used to prepare these financial statements and, where applicable, with the information obtained by your company from companies controlling your company or controlled by it. Based on this work, we certify the accuracy and truthfulness of the information. OTHER INFORMATION In accordance with the law, we have ensured that the various information relating to the acquisition of equity interests and control and the identity of the holders of the capital or voting rights have been communicated to you in the management report.