Vetoquinol Universal Registration Document 2019

Vetoquinol  Universal Registration Document 2019  Financial report   101 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements 6 6.6 Statutory auditors’ report on the consolidated financial statements Year ended December 31, 2019 To the shareholders’ general meeting, 6.6.1 Opinion In compliance with the terms of our engagement by your General Meetings, we have audited the consolidated financial statements of Vetoquinol SA for the financial year ended December 31, 2019, as appended to this report. The financial statements were approved by the Board of Directors on March 24, 2020 on the basis of information available at that date, amid a changing envi- ronment in relation to the Covid-19 crisis. We hereby certify that the consolidated financial state- ments are, with reference to IFRS as adopted within the European Union, in order and accurate and fairly present the result of operations of the financial year ended as well as the financial position, assets and liabilities of the persons and entities included in the consolidation at the end of said financial year. The above opinion is consistent with the content of our report to the Audit Committee. 6.6.2 Basis of opinion Auditing standards We conducted our audit in accordance with professional standards applicable in France. We believe that the evi- dence we have gathered provides a reasonable basis for our opinion. Our responsibilities pursuant to these standards are described in the section of this report entitled “Res- ponsibilities of the Statutory Auditors in the audit of the consolidated financial statements”. Independence We conducted our audit in compliance with the rules of independence applicable to us for the period from January 1, 2019 to the issue date of our report and, in particular, we did not provide any service prohibited by Article 5(1) of Regulation (EU) no. 537/2014 or by the code of ethics for statutory auditors. 6.6.3 Comment Without calling into question the opinion expressed above, we would draw your attention to Note 6.5.3.1. “General accounting principles and standards – New standards and amendments applicable in 2019” in the notes to the consolidated financial statements, which presents the impacts of changes in accounting methods relating to the application of IFRS 16 “Leases” and IFRIC 23 “Uncertainty over income tax treatments” as from January 1, 2019. 6.6.4 Justification of assessments - Key audit matters In accordance with the provisions of Articles L. 823-9 and R. 823-7 of the French Commercial Code relating to the justification of our assessments, we draw to your atten- tion the key audit matters in relation to risks of material misstatement which, in our professional judgment, were of most significance in the audit of the consolidated financial statements for the financial year, as well as our responses to those risks. These assessments formed part of our audit of the consolidated financial statements, taken as a whole, as approved under the aforementioned circumstances, and contributed to the formation of the opinion expressed above. We do not express an opinion on elements of these consolidated financial statements taken individually.