This document discusses the integration of PROAMA's accounting system into ČP. It provides a simplified scheme of the accounting and reporting processes and outlines the main topics of effective date and methodology. Next steps include a question and answer session, a joint meeting between ČP and PROAMA finance teams to discuss integration and set a schedule, and agreeing on an integration harmonogram and closing deadlines.

1. 1
Accounting system of ČP
Integration of PROAMA
Sept. 6th, 2013, call conference with PROAMA

2. 2
PROAMA - accounting
Agenda
Simplified scheme
Accounting
Reporting (IFFIC)
Main characteristic of roughly shaped solution
Main topics
Effective date
Methodology
Next steps
Questions and answers
Meeting in PL
Harmonogram

3. 3
PROAMA - accounting
Simplified scheme - accounting
ČESKÁ POJIŠŤOVNA
STATUTORY
ACCOUNTING SYSTEM
REPORTING
(SAP R/3)
INTERFACES &
OTHER NON- ACCOUNTING IFICC –
ČP´s ICT SYSTEMS
ACCOUNTING CIRCLE - ČP CONSO UNIT
(TIA, KDP, CZP….
SYSTEMS SAP R/3 (FI, CP
CO,AM, MM, SD,
WF, HR, BPC)
ACCOUNTING IFICC –
PROAMA´S ICT
SYSTEMS
? CIRCLE - PROAMA
SAP R/3 (FI,
CO,WF, HR, BPC)
CONSO UNIT
PL

4. 4
PROAMA - accounting
Simplified scheme - reporting
ČESKÁ POJIŠŤOVNA
ACCOUNTING SYSTEM
STATUTORY REPORTING
(SAP R/3)
CZ USERS
IFICC –
ACCOUNTING CONSO UNIT IFICC
CIRCLE - ČP BPC (BOSS) - ČP CP (GENERALI
SAP
GROUP
REPORTING
AND
IFICC – CONSOLIDATI
ACCOUNTING CONSO UNIT ON
BPC (BOSS) -
CIRCLE - PROAMA PL PL USERS
PROAMA
SAP R/3 - (SUPERVISORY AND
TAX AUTHORITY)

5. 5
PROAMA - accounting
Simplified scheme – main characteristics
PROAMA as part of ČP will use the SAP R/3
The technological support and methodics support will
be provided by ČP
We intend to keep as much standardized enviroment
over the ČP and PROAMA as we can, thus we will
implement BOSS in PROAMA
The effective inception of mentioned solution (SAP,
BOSS) is determined with effective date of transaciton

6. 6
PROAMA - accounting
Main topics – effective date
Effective date – the date of assets and liabilities
recognition (accordingly to IFRS 3)
Three possible dates – the signing date or 1/1/2013 or the date when the approval to
portfolio transfer will be launched
Actually we are discussing the apropriate aproach with auditors
The effective date is determining the inception of the
first accounting period (acquired assets and liabilities
will be involved in ČP s assets and liabilities).

7. 7
PROAMA - accounting
Main topics – methodology
The accounting methodology will be driven by ČP
methodics
Due to the fact, that PROAMA will be branch, i.e. it will be integral part of ČP, must be
used the same accounting policy for all operations and all part
Statutory financial statements are prepared in accordance to IFRS
The accounting policies of ČP are compatible with
Generali accounting manual
Regulatory reporting – will be (probably) dual –
operations in Poland (branch activity) will be reported by PROAMA to Polish supervisory
authority
Operations in Poland as a part of ČP s operations will be reported by ČP to Czech
supervisory authority

8. 8
PROAMA - accounting
Next steps
Q/A
ČP is preparing the set of questions about the real enviroment in PROAMA
PROAMA s colleague are kindly requested to prepare their own set of questions
Answers will be discussed in meeting (we hope that it will be held within the several next
days)
We would like to have the meeting – ČP
finance/PROAMA finance
The goals of it are:
• To discuss the answers
• to understand the PROAMAS nowadays reporting and accounting procedures
• To set the schedule of integration of PROAMA into ČP
Harmonogram
We should agree the integration schedule
We should agree the closing deadlines