Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information Independent auditor’s report to the members of Bank of Georgia Group PLC Opinion In our opinion: •Bank of Georgia Group PLC’s Group financial statements and Parent Company financial statements (the “financial statements”) give a true and fair view of the state of the Group’s and of the Parent Company’s affairs as at 31 December 2018 and of the Group’s profit for the year then ended; •the Group financial statements have been properly prepared in accordance with IFRSs as adopted by the European Union; •the Parent Company financial statements have been properly prepared in accordance with IFRSs as adopted by the European Union as applied in accordance with the provisions of the Companies Act 2006; and •the financial statements have been prepared in accordance with the requirements of the Companies Act 2006, and, as regards the Group financial statements, Article 4 of the IAS Regulation. We have audited the financial statements of Bank of Georgia Group PLC which comprise: Group •consolidated statement of financial position as at 31 December 2018 •consolidated income statement for the year then ended •consolidated statement of comprehensive income for the year then ended •consolidated statement of changes in equity for the year then ended •consolidated statement of cash flows for the year then ended •related notes 1 to 32 to the consolidated financial statements, including a summary of significant accounting policies Parent Company •separate statement of financial position as at 31 December 2018 •separate statement of changes in equity for the year then ended •separate statement of cash flows for the year then ended •related notes 1 to 32 to the effect they apply to the Parent Company financial statements, including a summary of significant accounting policies The financial reporting framework that has been applied in their preparation is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the European Union and, as regards the Parent Company financial statements, as applied in accordance with the provisions of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report below. We are independent of the Group and Parent Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard as applied to listed public interest entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Annual Report 2018Bank of Georgia Group PLC 155