Updated Mar 17, 2026 by Grant Thornton
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.
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.
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.
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.
Audit procedures for revenue and assets included verifying management’s professional estimates against source documentation and assessing the accuracy of budget cost qualifications.
The auditors confirmed that the management’s activity report is consistent with the financial statements and satisfies all legal corporate governance disclosure requirements.
Grant Thornton maintained independence throughout the engagement, confirming that no prohibited non-audit services were provided to the company during the 2020 period.
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.
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.
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.
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.
Audit procedures for revenue and assets included verifying management’s professional estimates against source documentation and assessing the accuracy of budget cost qualifications.
The auditors confirmed that the management’s activity report is consistent with the financial statements and satisfies all legal corporate governance disclosure requirements.
Grant Thornton maintained independence throughout the engagement, confirming that no prohibited non-audit services were provided to the company during the 2020 period.