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REPORT OF THE

               INDEPENDENT AUDITOR



               TO THE MEMBERS OF ACCESS BANK PLC







               Report on the audit of the consolidated
               and separate financial statements




               Our opinion                                    Basis for opinion
               In our opinion, the consolidated and separate financial   We conducted our audit in accordance with International
               statements give a true and fair view of the consolidated   Standards on Auditing (ISAs). Our responsibilities under
               and separate financial position of Access BankPlc (“the   those standards are further described in the Auditor’s
               bank”) and its subsidiaries (together “the group”) as at 31   responsibilities for the audit of the consolidated and sepa-
               December 2017, and of their consolidated and separate   ratefinancial statements section of our report.
               financial performance and their consolidated and separate
               cash flows for the year then ended in accordance withIn-  We believe that the audit evidence we have obtained is suf-
               ternational Financial Reporting Standards (IFRS) and the   ficient and appropriate to provide a basis for our opinion.
               requirements of the Companies and Allied Matters Act, the
               Banks and Other Financial Institutions Act and the Finan-
               cial Reporting Council of Nigeria Act.         Independence

                                                              We are independent of the Group in accordance with the
                                                              International Ethics Standards Board for Accountants’
               What we have audited
                                                              Code of Ethics for Professional Accountants (IESBA Code).
               Access Bank Plc’s consolidated and separate financial   We have fulfilled our other ethical responsibilities in accor-
               statements comprise:                           dance with the IESBA Code.
               •   the consolidatedand separate statements of financial
                   position as at 31 December 2017;
                                                              Key audit matters
               •   the consolidated and separate statements of com-
                   prehensive income for the year then ended;  Key audit matters are those matters that, in our profes-
               •   the consolidated and separate statements of chang-  sional judgment, were of most significance in our audit
                   es in equity for the year then ended;      of the consolidated and separate financial statements
               •   the consolidatedand separate statements of cash   of the current period. These matters were addressed in
                   flows for the year then ended; and         the context of our audit of theconsolidated and separate
               •   the notes to the consolidated and separate financial   financial statements as a whole, and in forming our opinion
                   statements, which include a summary of significant   thereon, and we do not provide a separate opinion on
                   accounting policies.                       these matters.

                Key audit matter                             How our audit addressed the key audit matter

                Impairment on loans and advances to customers – N63.9   We understood and evaluated the design and operating
                billion (refer to notes 3.9, 4.0 and 23)     effectiveness of the controls over loan loss impairment
                                                             assessment across the Group to determine the extent of
                Management exercises significant judgment when deter-  substantive testing required.
                mining both when and how much to record as impairment
                on loans and advances to customers.
                The Group categorises its loans and advances portfolio
                into two (2) types in its calculations of impairment:







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