2012 Registration document and annual financial report - BNP Paribas

CONSOLIDATED FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2012Statutory Auditors’ report on the consolidated financial statements4Measurement of financial instrumentsBNP Paribas uses internal models and methodologies to value its positions on financial instruments which are not traded on active markets, as well asto determine certain provisions and assess whether hedging designations are appropriate. We examined the control procedures applicable to identifyinginactive markets, verifying these models and determining the inputs used.Impairment of available-for-sale assetsBNP Paribas recognises impairment losses on available-for-sale assets where there is objective evidence of a prolonged or significant decline in value,as described in notes 1.c.5, 2.d and 5.c to the consolidated financial statements. We examined the control procedures relating to the identification ofsuch evidence, the valuations of the most significant captions, and the estimates used, where applicable, to record impairment losses.Impairment related to goodwillBNP Paribas carried out impairment tests on goodwill which led to the recording of impairment losses in 2012, as described in notes 1.b.4 and 5.o tothe consolidated financial statements. We examined the methods used to implement these tests as well as the main assumptions, inputs and estimatesused, where applicable, to record impairment losses.Deferred tax assetsBNP Paribas recognises deferred tax assets during the year, notably in respect of tax loss carryforwards, as described in notes 1.k, 2.g and 5.k to theconsolidated financial statements. We examined the main estimates and assumptions used to record those deferred tax assets.Provisions for employee benefitsBNP Paribas raises provisions to cover its employee benefit obligations, as described in notes 1.h and 7.b to the consolidated financial statements. Weexamined the method adopted to measure these obligations, as well as the main assumptions and inputs used.These assessments were made as part of our audit of the consolidated financial statements taken as a whole, and therefore contributed to the opinionwe formed which is expressed in the first part of this report.4III – Specific verificationAs required by law and in accordance with professional standards applicable in France, we have also verified the information presented in the Group’smanagement report. We have no matters to report as to its fair presentation and its consistency with the consolidated financial statements.Neuilly-sur-Seine and Courbevoie, 8 March 2013The Statutory AuditorsDeloitte & AssociésDamien LeurentPricewaterhouseCoopers AuditEtienne BorisMazarsHervé Hélias2012 Registration document and annual financial report - BNP PARIBAS 215