Report No. 18/2014
Legal basis:
Paragraph 5 item 1 point 19 of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognised as being equivalent to information required by the regulations of law of a state which is not a member state.
Content of the report:
The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“Bank”) hereby informs that on 5 March 2014 the Supervisory Board of the Bank has selected PricewaterhouseCoopers Sp. z o.o. as the entity authorised to audit and review the financial statements of the Bank and the consolidated financial statements of the Bank’s Group.
PricewaterhouseCoopers Sp. z o.o., with its registered seat in Warsaw, Al. Armii Ludowej 14, is an audit firm registered by the National Chamber of Registered Auditors as an entity authorised to audit financial statements, with No. 144. The Supervisory Board of the Bank selected this entity authorised to audit and review financial statements in compliance with applicable regulations and professional standards, and pursuant to paragraph 15 item 1 point 3 of the Articles of Association of the Bank.
The Bank will conclude an agreement for the audit and review of the financial statements of the Bank and the Bank’s Group in respect of the year 2014. The Bank has used the services of PricewaterhouseCoopers Sp. z o.o. in the past, specifically for auditing and review of the financial statements of the Bank and the Bank’s Group in respect of the years 2008-2013, and for audit related services.
Pursuant to the resolution of the Supervisory Board of the Bank on rules governing selection of the entity authorised to audit the Bank’s financial statements, the maximum period of uninterrupted cooperation with an entity authorised to audit financial statements is 6 years, and beginning from the period of cooperation relating to auditing of the financial statements in respect of the years 2015-2017 the maximum period of such cooperation is 5 years. The Bank applied to the Polish Financial Supervision Authority (“PFSA”) for the expression of a favourable opinion on extension of the period of cooperation with the authorised entity, i.e. PricewaterhouseCoopers Sp. z o.o., by one year. On 19 December 2013, PFSA had granted that request of the Bank while stating that it treated the Bank’s move to extend cooperation with its previous auditor as an exceptional derogation from the general principle.
Contact for Investors
Dariusz Choryło
Director of Investor Relations
dariusz.chorylo@pkobp.pl
Investor Relations Department
ir@pkobp.pl