E _ Further Information opinions. The risk of not detecting a material misstatement significant audit findings, including any significant deficiencies in resulting from fraud is higher than for one resulting from error, as internal control that we identify during our audit. fraud may involve collusion, forgery, intentional omissions, We also provide those charged with governance with a statement misrepresentations, or the override of internal controls. that we have complied with the relevant independence requirements, − Obtain an understanding of internal control relevant to the audit and communicate with them all relationships and other matters that of the consolidated financial statements and of arrangements and may reasonably be thought to bear on our independence, and where measures (systems) relevant to the audit of the group applicable, the related safeguards. management report in order to design audit procedures that are From the matters communicated with those charged with appropriate in the circumstances, but not for the purpose of governance, we determine those matters that were of most expressing an audit opinion on the effectiveness of these systems. significance in the audit of the consolidated financial statements of the − Evaluate the appropriateness of accounting policies used by the current period and are therefore the key audit matters. We describe executive directors and the reasonableness of estimates made by these matters in our auditor’s report unless law or regulation precludes the executive directors and related disclosures. public disclosure about the matter. − Conclude on the appropriateness of the executive directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in the auditor’s report to the related disclosures in the consolidated financial statements and in the group management report or, if such disclosures are inadequate, to modify our respective audit opinions. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to be able to continue as a going concern. − Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements present the underlying transactions and events in a manner that the consolidated financial statements give a true and fair view of the assets, liabilities, financial position and financial performance of the Group in compliance with IFRSs as adopted by the EU and the additional requirements of German commercial law pursuant to 315e Abs. 1 HGB. − Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express audit opinions on the consolidated financial statements and on the group management report. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinions. − Evaluate the consistency of the group management report with the consolidated financial statements, its conformity with German law, and the view of the Group’s position it provides. − Perform audit procedures on the prospective information presented by the executive directors in the group management report. On the basis of sufficient appropriate audit evidence we evaluate, in particular, the significant assumptions used by the executive directors as a basis for the prospective information, and evaluate the proper derivation of the prospective information from these assumptions. We do not express a separate audit opinion on the prospective information and on the assumptions used as a basis. There is a substantial unavoidable risk that future events will differ materially from the prospective information. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and Annual Report 2021 − Allianz Group 201