The Supervisory Board’s assessment of the consistency of the consolidated financial statements of the PKO Bank Polski S.A. Group for the year ended 31 December 2021, of the financial statements of PKO Bank Polski S.A. for the year ended 31 December 2021 and of the Directors’ Report of the PKO Bank Polski S.A. Group for 2021 with the books of account, documents and facts, including a justification
Pursuant to Article 382 of the Commercial Companies Code, § 70.1.14 and § 71.1.12 of the Regulation of the Minister of Finance dated 29 March 2018 on current and periodic information published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a Member State (hereinafter: the Decree on current and periodic information), and § 15.1.15 of the Articles of Association of PKO Bank Polski S.A., the Supervisory Board of PKO Bank Polski S.A. positively assessed the following reports with respect to their consistency with the books of account, documents and facts:
1) the consolidated financial statements of the PKO Bank Polski S.A. Group (hereinafter: the Bank’s Group) for the year ended 31 December 2021;
2) the financial statements of PKO Bank Polski S.A. (hereinafter: the Bank) for the year ended 31 December 2021;
3) the Group Directors’ Report of PKO Bank Polski S.A. for 2021 prepared jointly with the Directors’ Report of PKO Bank Polski S.A.
pursuant to:
the content of the above-mentioned reports, submitted to and discussed by the Bank’s Management Board;
the reports on the audit of the separate and consolidated financial statements of the Bank and the Bank’s Group, and the additional report of the audit firm for the Audit Committee of the Bank’s Supervisory Board;
the meetings with representatives of the audit firm, including the key registered auditor;
recommendations of the Audit Committee of the Bank’s Supervisory Board on a positive opinion on the audited financial statements.
The financial statements referred to in items 1-2 were audited by the audit firm PricewaterhouseCoopers Polska spółka z ograniczoną odpowiedzialnością Audyt sp. k., which was appointed by the Supervisory Board to conduct the audit of the Bank’s separate financial statements and the Bank Group’s consolidated financial statements for 2021.
The results of the assessment performed, including its justification, are presented below.
1. The Supervisory Board acquainted itself with and analysed the financial statements of PKO Bank Polski S.A. for the year ended 31 December 2021, which comprise:
1) selected financial data;
2) the income statement for the period from 1 January 2020 to 31 December 2021;
3) the statement of comprehensive income for 2021;
4) the statement of financial position as at 31 December 2021;
5) the statement of changes in equity for the period from 1 January 2020 to 31 December 2021;
6) the statement of cash flows for the period from 1 January 2020 to 31 December 2021;
7) the notes to the financial statements.
2. The Supervisory Board acquainted itself with and analysed the consolidated financial statements of the PKO Bank Polski S.A. Group for the year ended 31 December 2021 which comprise:
1) selected consolidated financial data;
2) the consolidated income statement for the period from 1 January 2020 to 31 December 2021;
3) the consolidated statement of comprehensive income for 2021;
4) the consolidated statement of financial position as at 31 December 2021;
5) the statement of changes in consolidated equity for the period from 1 January 2020 to 31 December 2021;
6) the consolidated statement of cash flows for the period from 1 January 2020 to 31 December 2021;
7) notes to the consolidated financial statements.
3. The Supervisory Board acquainted itself with and analysed the Group Directors’ Report of PKO Bank Polski S.A. for 2021 prepared jointly with the Directors’ Report of PKO Bank Polski S.A.
The financial statements of the Bank and the Bank’s Group for the year ended 31 December 2021 were prepared within the deadline specified in the legal regulations, pursuant to the International Financial Reporting Standards as adopted by the European Union (as at 31 December 2021) and in the scope not regulated by the above, in accordance with the requirements of the Accounting Act and the secondary legislation issued on its basis, as well as in accordance with the requirements relating to issuers of securities admitted or applying to be admitted to trading on official exchange markets.
The financial statements present the accounting policies used throughout the years presented therein in a consistent manner, with the exception of the issues described in the Note “Changes in the accounting policies applicable from 1 January 2021 and explanation of the differences between previously published financial statements and these financial statements”.
After analysing the reports of the independent registered auditor from the audit and the additional report of the audit firm for the Audit Committee of the Bank’s Supervisory Board and based on the meetings held with the audit firm, as well as taking into consideration the positive recommendations of the Audit Committee of the Bank’s Supervisory Board presented on 23 February 2020, the Supervisory Board gave a positive opinion on the consolidated financial statements of the Bank’s Group for the year ended 31 December 2021, the Bank’s financial statements for the year ended 31 December 2021, and the Bank Group Directors’ Report for 2021 prepared jointly with the Bank Directors’ Report.
The independent registered auditor in particular submitted the following opinions:
with respect to the Bank’s financial statements stating that it presents in a fair and clear manner the financial position of the Bank as at 31 December 2021 and that it was prepared on the basis of correctly maintained books of account, in accordance with the provisions of Chapter 2 of the Accounting Act, and that it complies in form and content with the legal regulations binding for the Bank and its Articles of Association;
with respect to the Group’s consolidated financial statements stating that it presents in a fair and clear manner the consolidated financial position of the Bank’s Group as at 31 December 2021 and that it complies in form and content with the legal regulations binding for the Bank’s Group and the Articles of Association of the Parent.
In addition, with respect to the Directors’ Report, the registered auditor stated based on the audit work performed that the Directors’ Report was prepared pursuant to Article 49 of the Accounting Act, § 70 and § 71 of the regulation on current and periodic information and Article 111a. 1-2 of the Banking Law, and that it complies with the information presented in the financial statements.
Based on the above actions, the Bank’s Supervisory Board has assessed that the Consolidated financial statements of the PKO Bank Polski S.A. Group for the year ended 31 December 2021, the financial statements of PKO Bank Polski S.A. for the year ended 31 December 2021, and the PKO Bank Polski S.A. Group Directors’ Report for 2021 prepared jointly with the PKO Bank Polski S.A. Directors’ Report are consistent with the books of account, documents and facts.
Przewodniczący Rady Nadzorczej Piotr Sadownik |
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Członek Rady Nadzorczej Mariusz Andrzejewski |
Wiceprzewodnicząca Rady Nadzorczej Grażyna Ciurzyńska |
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Członek Rady Nadzorczej Mirosław Barszcz |
Sekretarz Rady Nadzorczej Zbigniew Hajłasz |
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Członek Rady Nadzorczej Adam Budnikowski |
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Członek Rady Nadzorczej Wojciech Jasiński |
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Członek Rady Nadzorczej Andrzej Kisielewicz |
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Członek Rady Nadzorczej Elżbieta Mączyńska - Ziemacka |
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Członek Rady Nadzorczej Krzysztof Michalski |
respective signatures on the original version
Warsaw, 23 February 2022
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