Report No. 1 - An agreement concluded by and between: Stalexport Autostrady S.A. with its registered office in Mysłowice (hereinafter: the Issuer) and Deloitte Polska Spółka z ograniczoną odpowiedzialnością Spółka komandytowa with its registered office i
An agreement concluded by and between: Stalexport Autostrady S.A. with its registered office in Mysłowice (hereinafter: the Issuer) and Deloitte Polska Spółka z ograniczoną odpowiedzialnością Spółka komandytowa with its registered office in Warsaw (hereinafter: Deloitte) to terminate the Contract dated 14 June 2017 for the provision of financial audit services and other assurance services concerning, among others, an audit of the Issuer’s separate and consolidated financial statements for 2017-2018 (hereinafter: the Contract).
Following the entry into force of the Act of 11 May 2017 on statutory auditors, audit firms and public oversight (Official Journal, item 1089, hereinafter: Act) which stipulates i.a. that the auditor can pursue audit activities in the same public interest entity over a period not exceeding 5 years (Article 134 of the Act), the delivery of the Contract cannot be continued in reference to reporting periods ending on 30 June 2018 (6 months) and 31 December 2018 (12 months).
Under the transitional provisions to the Act, Article 134 of the Act applies to the audits of financial statements for the financial years beginning after 31 December 2017. Therefore, the delivery of the Contract in reference to reporting periods ending on 30 June 2017 (6 months) and 31 December 2017 (12 months) is in compliance with the Act, even though it would be the sixth year of cooperation with Deloitte.
Further to the above, the Issuer and Deloitte (hereinafter referred to as the Parties) concluded an agreement on 17 January 2018, by which the Parties decided that:
1. The Contract is terminated in terms of financial audit services in reference to reporting periods ending on 30 June 2018 (6 months) and 31 December 2018 (12 months), respectively, with effect on the agreement execution date;
2. The Contract remains in force and binding upon the Parties in the scope of financial audit services in reference to reporting periods ending on 30 June 2017 (6 months) and 31 December 2017 (12 months), respectively;
3. there is a reasonable basis to terminate the Contract and that the cause of termination of the Contract are not differences of the opinion on the application of accounting principles or auditing standards.
Legal basis
Article 56 sec. 1 pt. 2 of the Public Offer and Financial Instruments Act of 29 July 2005 (Journal of Laws 2016.0.1639, consolidated act).