Independent Limited Assurance Report on the Combined Non-financial Report pursuant to Section 267a UGB
We performed a limited assurance engagement of the summarised non-financial report pursuant to Section 267a UGB (Austrian Commercial Code) (hereinafter the “summarised non-financial report”) of UNIQA Insurance Group AG (the “Company”), Vienna, for the 2022 financial year.
Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that the Company’s summarised non-financial report is not prepared, in all material aspects, in accordance with the requirements of Section 267a UGB and the EU Taxonomy Regulation (EU Regulation 2020/852).
Responsibility of Management and the Supervisory Board
Management is responsible for the preparation of the summarised non-financial report in accordance with the requirements of Section 267a UGB and the EU Taxonomy Regulation (EU Regulation 2020/852).
Management’s responsibility includes the selection and application of appropriate methods to prepare the summarised non-financial reporting (in particular the selection of material issues) as well as making assumptions and estimates related to individual sustainability disclosures which are reasonable in the circumstances, and for such internal control as of a summarised non-financial report that is free from material misstatement, whether due to fraud or error.
The Supervisory Board is responsible for examining the summarised non-financial report.
Our responsibility is to express a limited assurance conclusion based on our procedures performed and evidence obtained as to whether anything has come to our attention that causes us to believe that the Company’s summarised non-financial report is not prepared, in all material aspects, in accordance with the legal requirements of Section 267a UGB and the EU Taxonomy Regulation (EU Regulation 2020/852).
We performed our engagement in accordance with the professional standards applicable in Austria with regard to KFS/PG 13 “Other assurance engagements”, KFS/PE28 “Selected issues in connection with the assurance of non-financial statements and non-financial reports pursuant to sections 243b UGB and 267a UGB as well as sustainability reports” and the International Standards on Assurance Engagements (ISAE) 3000 (Revised) “Assurance engagements other than audits or reviews of historical financial information”. These standards require that we comply with our ethical requirements, including rules on independence, and that we plan and perform our procedures by considering the principle of materiality such that we are able to express a limited assurance conclusion based on the assurance obtained.
Our report is issued based on the engagement agreed upon with you and is governed by the General Conditions of Contract (AAB) 2018, issued by the Austrian Chamber of Tax Advisers and Auditors (https://www.ksw.or.at/desktopdefault. aspx/tabid-209/), which also apply towards third parties. As provided under Section 275(2) UGB (liability provision regarding the audit of financial statements of small and medium-sized companies), our responsibility and liability towards the Company and any third parties arising from the assurance engagement are limited to a total of €2 million.
The procedures performed in a limited assurance engagement vary in nature and timing from, and are less extensive than, a reasonable assurance engagement; consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.
The selection of the procedures lies in the sole discretion of the auditor and comprised, in particular, the following:
- Evaluating the overall presentation of the disclosures and non-financial information
- Critical assessment of the Company’s analysis of materiality considering the concerns of external stakeholders by interviewing the responsible employees and inspecting relevant documents
- Obtaining an overview of the policies or strategies pursued by the Company, including due diligence processes implemented as well as the processes used to ensure an accurate presentation in the summarised non-financial report by interviewing the Company’s management and inspecting internal guidelines, procedural instructions and management systems in connection with non-financial matters/disclosures
- Obtaining an understanding of reporting processes by interviewing the relevant employees and inspecting selected documentation
- Evaluating the reported disclosures by performing analytical procedures regarding non-financial performance indicators, interviewing relevant employees and inspecting selected documentation
- Critical appraisal of the disclosures in accordance with the requirements of the EU Taxonomy Regulation (EU Regulation 2020/852)
- Examining the summarised non-financial report regarding its completeness in accordance with the requirements of Section 267a UGB and the EU Taxonomy Regulation (EU Regulation 2020/852)
- The engagement and, in particular, all interviews and procedures were carried out by virtual means due to the ongoing Covid-19 pandemic and the coronavirus containment measures. Data was exchanged via platforms provided by us as well as via email and mail. Interviews were conducted via telephone as well as via video conferencing.
The following is not part of our engagement:
- Examining the processes and internal controls particularly regarding their design, implementation and effectiveness
- Carrying out procedures at individual locations as well as measurements or individual evaluations to check the reliability and accuracy of data received
- Examining the prior-year figures, forward-looking disclosures or data from external surveys
- Examining the correct transfer of data and references from the (consolidated) financial statements to the non-financial reporting; and
- Examining the information and disclosures on the website or further references on the internet
Neither an audit nor a review of financial statements is the objective of our engagement. Furthermore, neither the detection or investigation of criminal acts, such as embezzlement or other kinds of fraud, and wrongful doings, nor the assessment of the effectiveness and efficiency of the management are objectives of our engagement.
Restriction of Use
Because our report is prepared solely for and on behalf of the client, it does not constitute a basis for any reliance on its contents by other third parties. Therefore, no claims of other third parties can be asserted from it.
8 March 2023
PwC Wirtschaftsprüfung GmbH
Austrian Certified Public Accountant