- 01
Grant Thornton Frąckowiak issued an unqualified audit opinion for PCF Group S.A. for the fiscal year ending December 31, 2020, confirming the financial statements comply with IFRS and Polish law.
- 02
PCF Group S.A. reported 76.2 million PLN in sales revenue and 21.6 million PLN in contract assets for the 2020 fiscal year.
- 03
The auditors identified the valuation of contract assets and revenue recognition as a key audit matter due to the complexity of contract modifications, variable compensation, and work completion estimates.
- 04
This audit represents the first financial review of PCF Group S.A. following its admission to trading on the Warsaw Stock Exchange in December 2020.
- 05
Audit procedures for revenue and assets included verifying management’s professional estimates against source documentation and assessing the accuracy of budget cost qualifications.
- 06
The auditors confirmed that the management’s activity report is consistent with the financial statements and satisfies all legal corporate governance disclosure requirements.
- 07
Grant Thornton maintained independence throughout the engagement, confirming that no prohibited non-audit services were provided to the company during the 2020 period.