b'REPORT ON THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)Key audit matter How our audit addressed the key audit matterESTIMATION OF DECOMMISSIONING ANDOur audit procedures focused on the work ofthe RESTORATION PROVISIONS Groups internal and external specialists. Provisions associated with decommissioningInobtainingsufficientauditevidence,we:andrestorationaredisclosedinNote4.9totheconsolidatedfinancialstatements;adescription assessed the competence andobjectivity of bothof the accounting policy and key judgementsthe Groups internal and external specialists andestimatesisincludedinNote2.4Thetotal involved inthe estimation process;decommissioning and restoration provisionsassessed the reasonableness of theassumptions reported as at 31 December 2020 was $88.3 million(2019:$132.1million). utilized by the specialists in the determination of the provisions;The calculation of decommissioning andunderstood the Groupsdecommissioning and restoration provisions is conducted by specialist engineersandrequirestheuseofsignificant restoration estimation processes;judgement in the application of key assumptionstested the consistency in theapplication of in respect of asset lives, timing of restoration work being undertaken, environmental legislativeprinciples and assumptions to other areas requirements, the extent of restoration activitiesof the audit such asreserves estimation and required and estimation of future costs. Changesimpairment testing;in these assumptions may result in materialtested the mathematical accuracyof the netchanges to the decommissioning and restorationpresent value calculations and discount rate provisions recorded by the Group and as a resultapplied; andis considered a key audit matter. reconciledthecalculationstothefinancialreportprepared by internal and external specialists.OTHER INFORMATION INCLUDED IN THEAND SUPERVISORY BOARD FOR THE GROUPS 2020 ANNUAL REPORT CONSOLIDATED FINANCIAL STATEMENTSOther information consists of the informationManagement is responsible for the preparation included in the Groups 2020 Annual Report,andfairpresentationoftheconsolidatedfinancialotherthantheconsolidatedfinancialstatements statements in accordance with IFRSs, and for and our auditors report thereon. Management issuch internal control as management determines responsible for the other information. The Groupsis necessary to enable the preparation of the 2020 Annual Report is expected to be madeconsolidatedfinancialstatementsthatarefreeavailable to us after the date of this auditorsfrom material misstatement, whether due to fraud report.or error. Ouropinionontheconsolidatedfinancial Inpreparingtheconsolidatedfinancialstatements,statements does not cover the other informationmanagement is responsible for assessing the and we will not express any form of assuranceGroups ability to continue as a going concern, conclusion thereon.disclosing, as applicable, matters related to going concern and using the going concern basis of In connection with our audit of the consolidatedaccounting unless management either intends to financialstatements,ourresponsibilityistoread liquidate the Group or to cease operations, or has theotherinformationidentifiedabovewhenit no realistic alternative but to do so. becomes available and, in doing so, consider whether the other information is materiallyThe Supervisory Board is responsible for inconsistentwiththeconsolidatedfinancial overseeingtheGroupsfinancialreportingprocess.statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.RESPONSIBILITIES OF MANAGEMENT 44 STAATSOLIE 2020 ANNUAL REPORT'