On 23 May 2019 KNF gave a permit to PZU to extend for another two years the maximum period for the engagement for KPMG Audyt to audit the standalone and consolidated financial statements. In this manner the Supervisory Board made the decision to continue cooperation with the auditor to audit the 2019-2020 financial statements.
|Fee payable to the audit firm auditing PZU’s financial statements (PLN 000s)||1 January –31 December 2018||1 January – 31 December 2019|
|compulsory audit of the annual financial statements / consolidated financial statements||609||828|
|other assurance services, including a review of financial statements/consolidated financial statements||759||878|
|tax advisory services||-||-|
|Fee charged by the entity authorized to audit the PZU Group’s financial statements (PLN 000s)||1 January – 31 December 2018||1 January – 31 December 2019|
|audit of financial statements||7,813||8,361|
|other assurance services||4,814||5,148|
The scope of the concluded agreement encompasses the following in particular:
The following are among the main assumptions underlying PZU’s policy for selecting the audit firm:
The main assumptions underlying the Policy for the provision of permitted non-audit services by the audit firm conducting the statutory audit, by entities related to this audit firm and by a member of the audit firm’s network:
In 2019 the audit firm auditing the financial statements rendered permitted non-audit services to PZU. The Company conducted an assessment of the audit firm’s independence and the PZU Supervisory Board consented to the rendering of the foregoing services.
In recent years, PZU’s additional cooperation with KPMG Audyt has covered, without limitation, audits of solvency and financial standing reports required by the Solvency II Directive.