CARREFOUR - 2014 annual financial report

212 2014 Registration Document

Consolidated Financial Statements Year ended December 31, 2014

Statutory Auditors’ report on the Consolidated Financial Statements

We have notably verified the followings:

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your Group has performed at year-end an impairment test of goodwill and an assessment of the recoverability of other intangible and tangible

assets as soon as there was any indication of impairment, according to the methodology described in Note 2.6.4 to the Consolidated Financial

Statements. We have reviewed the methodology used to conduct the impairment tests and the identification of triggers of impairment, as well

as the cash flow forecasts and assumptions used and verified the appropriate information provided in Note 17 to the Consolidated Financial

Statements. We have reviewed the calculations performed by your Group; we have compared previous periods’ accounting estimates with actual

results and reviewed Management’s approval process of these estimates;

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with respect to provisions, we have assessed the basis upon which such provisions have been set up, reviewed the Group’s procedures to

identify them, their assessment, and their recording and reviewed the information relating to the risks presented in Notes 29, 30, and 31 to the

Consolidated Financial Statements.

These assessments were made as part of our audit of the Consolidated Financial Statements taken as a whole and therefore contributed to the

opinion we formed which is expressed in the first part of this report.

Specific verification

As required by French law, and in accordance with the professional standards applicable in France, we have also verified the information presented

in the Group’s management report.

We have no matters to report as to its fair presentation and its consistency with the Consolidated Financial Statements.

The Statutory Auditors

Courbevoie, Paris-La Défense and Neuilly-sur-Seine, March 4, 2015

French original signed by

MAZARS

KPMG audit

Department of KPMG SA

DELOITTE & ASSOCIÉS

Pierre Sardet

Éric Ropert

Patrick-Hubert Petit

Arnaud de Planta