With the outcome of those discussions and the results of our
audit procedures, we assessed management’s assumptions in
the determination of the percentage of completion of a project,
estimates to complete for both revenue and costs and
provisions for loss making projects or provisions for billed
receivables. We requested and assessed legal opinions in
situations where the outcome of project results or the
recoverability of (un)billed receivables was dependent on the
outcome of legal proceedings or arbitration. We further focused
on the Company’s disclosures about the (un)billed receivable
provision and the related risks such as credit risk, liquidity risk
and the aging of receivables in note 30 to the Consolidated
financial statements.