Mazars Audyt Sp. z o.o. 7
When preparing the financial statements, the Bank's Management Board is responsible for
assessing the Bank’s ability to continue as a going concern, as well as for disclosing, if
applicable, matters related to going concern and for adopting the going concern assumption
as an accounting basis, unless the Management Board either intends to liquidate the Bank or
to cease operations, or has no realistic alternative but to do so.
The Bank's Management Board and members of the Supervisory Board are obliged to ensure
that the financial statements meet the requirements set out in the Accounting Act. Members
of the Supervisory Board are responsible for supervising the financial reporting process of the
Bank.
Statutory Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance
but is not a guarantee that an audit conducted in accordance with the National Standards on
Auditing will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of
these financial statements.
The scope of audit does not include assurance as to the future profitability of the Bank and
effectiveness or efficiency of running the Bank’s affairs by the Management Board at present
or in the future.
According to National Standards on Auditing, we exercise professional judgement and
maintain professional skepticism throughout the audit, as well as:
• we identify and assess risks of material misstatement of financial statements, whether
due to fraud or error, we design and perform audit procedures responsive to those
risks and we obtain audit evidence which is sufficient and appropriate to provide a
basis for our audit opinion. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control;
• we obtain an understanding of internal control relevant to the audit in order to design
audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the internal control in the Bank;
• we evaluate the appropriateness of the accounting principles (policy) used and the
reasonableness of the accounting estimates and related disclosures made by the
Management Board of the Bank;
• we conclude on the appropriateness of the Bank’s Management Board’s use of the
going concern basis of accounting and, based on the audit evidence obtained, as to
whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Bank’s ability to continue as a going concern. If we conclude
that a material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the financial statements or, if such disclosures are