LegalGrant Thornton
Independent Auditor's Report on the Annual Financial Statements of PCF Group Spółka Akcyjna
1 Apr 20226 pages~7 min full read
Grant Thornton Frackowiak issued an unqualified audit opinion for PCF Group Spółka Akcyjna for the 2021 fiscal year, confirming the financial statements comply with IFRS and Polish accounting laws.
See it on page 1PCF Group reported total sales revenue of 107.8 million PLN for the fiscal year ending December 31, 2021.
See it on page 1The company recorded 22.4 million PLN in assets arising from contracts with customers as of December 31, 2021.
See it on page 2The auditor identified the recognition of revenue and contract assets as a key audit matter, specifically noting the complexity of management judgments regarding contract modifications under IFRS 15.
See it on page 2The audit was conducted in accordance with National Auditing Standards and International Standards on Auditing, with the final opinion signed by statutory auditor Jan Letkiewicz on April 21, 2022.
See it on page 2This audit marks the third consecutive year that Grant Thornton has served as the auditor for PCF Group, following their initial appointment in 2019.
See it on page 5The independent auditor’s report prepared by Grant Thornton Frackowiak provides a professional assessment of the annual financial statements for PCF Group Spółka Akcyjna, a Warsaw-based game development company, for the fiscal year ending December 31, 2021. The primary objective of the audit is to verify that the company’s financial reporting presents a fair and accurate view of its financial position, performance, and cash flows in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and the Polish Accounting Act.
Key financial data points highlighted in the report include total sales revenue of 107.8 million PLN for the 2021 fiscal year. Additionally, the value of assets arising from contracts with customers was recorded at 22.4 million PLN as of the end of the reporting period. The audit identifies the recognition of revenue and contract assets as a key audit matter, requiring significant management judgment regarding the timing of contract formation, the aggregation of agreements, and the handling of contract modifications under IFRS 15.
The audit methodology followed National Auditing Standards and International Standards on Auditing, ensuring compliance with the Act on Statutory Auditors and EU Regulation 537/2014. The auditor issued an unqualified opinion, stating that the financial statements are consistent with applicable laws, the company’s statutes, and properly maintained accounting records. This report marks the third consecutive year of Grant Thornton’s engagement with PCF Group, following their initial appointment for the 2019 fiscal year. The final opinion was signed by key statutory auditor Jan Letkiewicz on April 21, 2022.
