Vilmorin & Cie - Annual report 2017-2018

Financial INFORMATION 5 ANNUAL REPORT Vilmorin & Cie 218 2017-2018 5.2. Corporate Financial Statements Information resulting from other legal and regulatory obligations Designation of the Statutory Auditors We were appointed Statutory Auditors for the Company Vilmorin & Cie, representing KPMG S.A., by the General Meeting of Shareholders of March 2, 1990, and representing Visas 4 Commissariat by the General Meeting of Shareholders of February 21, 1995. On June 30, 2018, KPMG S.A. was in its 28 th uninterrupted year of mission, and Visas 4 Commissariat in its 24 th year, and respectively the 25 th and 24 th year since the shares of the Company were admitted for trading on a regulated market. Responsibilities of Management and those charged with governance relating to the annual financial statements It is the responsibility of Management to prepare annual financial statements that present a true and fair view in accordance with French accounting rules and principles, and to establish such internal control as it deems necessary for the preparation of annual financial statements that are free from material misstatement, whether due to fraud or error. When preparing the annual financial statements, Management is responsible for assessing the Company’s ability to continue as a going concern, for disclosing in these financial statements, if applicable, the necessary information relating to the going concern and for applying the going concern accounting policy, unless it is planned to liquidate the Company or cease operations. The Audit and Risk Management Committee is responsible for monitoring the financial reporting process and the effectiveness of the internal control and risk management systems, as well as, where applicable, internal audit, with respect to the procedures relating to the preparation and processing of accounting and financial information. The annual financial statements were closed by the Board of Directors. Statutory Auditors’ Responsibilities relating to the audit of the annual financial statements Audit objective and approach It is our responsibility to prepare a report on the annual financial statements. Our objective is to obtain reasonable assurance that the annual financial statements taken as a whole are free from significant material misstatement. Reasonable assurance is a high level of assurance, but does not guarantee that an audit conducted in accordance with professional practice standards will always detect any material misstatement. Such misstatements may be fraudulent or error-related and are considered material when they can reasonably be expected to influence, either individually or cumulatively, the economic decisions that account users make based on them. As specified by article L.823-10-1 of the French Commercial Code, our certification mission is not to guarantee the viability or quality of your Company’s management. As part of an audit conducted in accordance with professional standards applicable in France, the Statutory Auditor exercises his professional judgment throughout this audit. In addition: he identifies and assesses the risks of material misstatement in the annual financial statements, whether due to fraud or error, defines and implements audit procedures to address these risks, and collects information that he considers sufficient and appropriate to form his opinion. The risk of undetected material misstatement arising from fraud is greater than the risk of undetected material misstatement resulting from an error, as fraud may involve collusion, forgery, willful omission, misrepresentation or circumvention of internal control; he takes note of the internal control relevant to the audit in order to define appropriate audit procedures in the circumstances, and not for the purpose of expressing an opinion on the effectiveness of internal control; he assesses the appropriateness of the accounting methods used and the reasonable nature of the accounting estimates made by Management, as well as the information concerning these estimates provided in the annual financial statements; he assesses the appropriateness of Management’s application of the going concern accounting policy and, depending on the information collected, whether or not there is any significant uncertainty related to events or circumstances that could jeopardize the Company’s ability to continue as a going concern. This assessment is based on the information collected up to the date of his report, although it should be borne in mind that future circumstances or events could jeopardize the Company’s ability to continue as a going concern. If he concludes that there is significant uncertainty, he draws the attention of the readers of his report to the information provided in the annual financial statements about that uncertainty or, if that information is not provided or is not relevant, he issues a qualified certification or a refusal to certify; he assesses the overall presentation of the annual financial statements and assesses whether the annual financial statements reflect the underlying transactions and events in such a way as to give a true and fair view. Report to the Audit and Risk Management Committee We submit a report to the Audit and Risk Management Committee, which includes the scope of the audit work and the work program implemented, as well as the conclusions resulting from our work. We also bring to its attention, where appropriate, any