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Information about the content of the company’s internal rule

Information about the content of the company’s internal rule of changing the audit firm

 

PKP CARGO S.A. is a public interest entity as defined in Article 2 sec. 9 of the on Act on Statutory Auditors, Audit Firms and Public Oversight of 11 May 2017 (Journal of Laws of 2017, Item 1089, as amended).

 

Accordingly, PKP CARGO S.A. adopted the Policy for the provision of additional services by the audit firm auditing PKP CARGO S.A., its related parties or members of its network” and the “Policy and procedure for the selection of an audit firm to audit standalone financial statements of PKP CARGO S.A. and consolidated financial statements of the PKP CARGO Group”.

 

The document entitled “Policy and procedure for the selection of an audit firm...” contains the following provision referring to the rule of changing the audit firm:

 

“The selection of an audit firm is made in consideration of the principle of rotation of audit firms and key statutory auditors in such a manner that the maximum duration of uninterrupted audits of financial statements for individual financial years carried out by the same audit firm or by a company affiliated with such audit firm or any member of the network operating in European Union Member States which includes these audit firms does not exceed five years and the key statutory auditor does not perform any statutory audits in the Company for more than five years. The same statutory auditor may be selected no earlier than three years after the completion of the most recent statutory audit.”



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