Page 55 - BKT Annual Report 2024 EN

Emin Duraku Str. Binjaket Build.
No.5, 1009, Tirana
Albania
Tel: +355 4 2222 889
www.mazars.al

INDEPENDENT AUDITOR’S REPORT Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
To management and Shareholders of Banka Kombëtare Tregtare sh.a The objectives of our audit are to obtain reasonable assurance about whether the consolidated financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
Qualified Opinion opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
We have audited the consolidated financial statements of Banka Kombëtare Tregtare sh.a (the Bank), which comprise the with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
consolidated statement of financial position as of December 31, 2024, the consolidated statement of profit or loss and other considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year decisions of users taken on the basis of these consolidated financial statements.
then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism
throughout the planning and performance of the audit. We also:
In our opinion, except for the effects of the matter described in the “Basis for the Qualified Opinion” section of our report, - Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to
the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
of the Bank as of 31 December 2024, its consolidated financial performance and its consolidated cash flows for the year sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
ended in accordance with International Financial Reporting Standards (IFRSs). resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
Basis for Qualified Conclusion - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
The Bank has treated its share capital issues in United States Dollar (USD) as a monetary item in the consolidated financial appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
information and recognized the revaluation differences for the year ended December 31st, 2024 within net profits in entity’s internal control.
the consolidated statement of profit or loss and other comprehensive income. This treatment is not in accordance with - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
International Accounting Standard (IAS) 21 “The effects of Changes in Foreign Exchange Rates” which requires share related disclosures made by management.
capital to be treated as a non-monetary item and carried at the exchange rate of the date of the transaction. Had the Bank - Conclude on the appropriateness of management’s use of the going concern basis of accounting and based on
treated its share capital in accordance with IAS 21 requirements, the share capital as of 31 December 2024 would have the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
been increased by USD 59,019,116, retained earnings would have been decreased by USD 58,836,439 and the net profit significant doubt on the Bank’s ability to continue as a going concern. If we conclude that a material uncertainty
would have been decreased by USD 182,677 for the year period ended 31 December 2024. Nevertheless, this would not exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial
have affected the total shareholder’s equity. statements or, if such disclosures are inadequate, to modify our opinion. 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 Bank
Other information to cease to continue as a going concern.
Management is responsible for the other information. The other information comprises the information included in the - Evaluate the overall presentation, structure, and content of the consolidated financial statements, including the
Annual Report of the Bank prepared by Management in accordance with Article 53 of Law no. 9662, dated 18 December disclosures, and whether the consolidated financial statements represent the underlying transactions and events
2006 “On Banks in the Republic of Albania”, amended and with article no. 18 of the law no. 25/2018 “On Accounting and in a manner that achieves fair presentation.
financial statements”. The Annual Report of the Bank is expected to be made available to us after the date of our audit report. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities
Our opinion on the consolidated financial statements does not cover the other information and we will not express any form within the Bank to express an opinion on the consolidated financial statements. We are responsible for the direction,
of assurance conclusion thereon. In connection with our audit of the consolidated financial statements, our responsibility supervision and performance of the group audit. We remain solely responsible for our audit opinion.
is to read the other information identified above when it becomes available and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or knowledge obtained in the audit, or appears to be We are required to communicate with those charged with governance regarding, among other matters, the planned scope
materially misstated. and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify
When reading the Annual Report of the Bank, if we conclude that there is a material misstatement therein, we are required during our audit.
to communicate the matter to those charged with governance.
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance
with IFRS and for such internal control as management determines is necessary to enable the preparation of consolidated Teit Gjini March 26, 2025
financial statements that are free from material misstatement, whether due to fraud or error. Statutory Auditor
In preparing the consolidated financial statements, management is responsible for assessing the Bank’s ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless management either intends to liquidate the Bank or to cease operations, or has no realistic alternative
but to do so.
Those charged with governance are responsible for overseeing the Bank’s financial reporting process.

Teit Gjini
Statutory Auditor