16 unchanged sentences
Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
−Removed: We, Anna Paglia, Principal Executive Officer, and Kelli Gallegos, Principal Financial and Accounting Officer, Investment Pools, of the Sponsor, assessed the effectiveness of the Trust’s internal control over financial reporting as of December 31, 2022.
+Added: We, Brian Hartigan, Principal Executive Officer, and Kelli Gallegos, Principal Financial and Accounting Officer, Investment Pools, of the Sponsor, assessed the effectiveness of the Trust’s internal control over financial reporting as of December 31, 2023.
In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control—Integrated Framework (2013).
1 unchanged sentence
The Trust’s independent registered public accounting firm, PricewaterhouseCoopers LLP , has audited the Trust’s internal control over financial reporting as of December 31, 2023, as stated in their report on page 18 of the Trust’s Annual Report on Form 10-K.
−Removed: /S/ ANNA PAGLIA
+Added: /S/ BRIAN HARTIGAN
+Added: Brian Hartigan
Principal Executive Officer
1 unchanged sentence
Kelli Gallegos
−Removed: Principal Financial and Accounting Officer, Investment Pools
+Added: Principal Financial and Accounting Officer,
+Added: Investment Pools
February 22, 2024
2 unchanged sentences
Opinions on the Financial Statements and Internal Control over Financial Reporting
−Removed: We have audited the accompanying statements of financial condition of Invesco CurrencyShares Euro Trust (the “Trust”) as of December 31, 2022 and 2021, and the related statements of comprehensive income, of changes in shareholders’ equity and redeemable capital shares and of cash flows for each of the two years in the period ended December 31, 2022, including the related notes (collectively referred to as the “financial statements”).
−Removed: We also have audited the Trust’s internal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
+Added: We have audited the accompanying statements of financial condition of Invesco CurrencyShares Euro Trust (the “Trust”) as of December 31, 2023 and 2022, and the related statements of comprehensive income, of changes in shareholders’ equity and redeemable capital shares and of cash flows for each of the two years in the period ended December 31, 2023, including the related notes (collectively referred to as the “financial statements”).We also have audited the Trust’s internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Trust as of December 31, 2023 and 2022,and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2023 in conformity with accounting principles generally accepted in the United States of America.
5 unchanged sentences
federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
−Removed: We conducted our audits i n accordance with the standards of the PCAOB.
+Added: We conducted our audits in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.
20 unchanged sentences
Invesco CurrencyShares ® Euro Trust
−Removed: Statements of Financial Condition
+Added: Statements of Fin ancial Condition
December 31, 2023 and 2022
Euro deposits, interest bearing
+Added: Subscriptions receivable
+Added: Cash due from Depository
Receivable from accrued interest
1 unchanged sentence
Accrued Sponsor's fee
−Removed: Accrued interest expense on currency deposits
Total Liabilities
7 unchanged sentences
Invesco CurrencyShares ® Euro Trust
−Removed: Statements of Comprehensive Income
+Added: Statements of Com prehensive Income
For the Years Ended December 31, 2023 and 2022
33 unchanged sentences
Net Increase (Decrease) due to Share Transactions
+Added: Distributions
Net Comprehensive Income (Loss)
16 unchanged sentences
Accrued interest expense
+Added: Cash due from Depository
Net cash provided by (used in) operating activities
5 unchanged sentences
( 622,725,114
+Added: Increase (decrease) in payable for Euro deposits overdrawn
Net cash provided by (used in) financing activities
1 unchanged sentence
Net change in cash
−Removed: ( 116,120,797
Cash at beginning of period
25 unchanged sentences
The financial statements of the Trust have been prepared using accounting principles generally accepted in the United States of America (“U.S.
+Added: Certain reclassifications have been made to prior years' financial statements to conform to the current year presentation.
Accounting Estimates
51 unchanged sentences
(1) the non-U.S.
−Removed: Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United States sources;
+Added: Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United
+Added: States sources;
or (2) the gain is effectively connected with the conduct by the non-U.S.
7 unchanged sentences
The interest rate in effect as of December 31, 2023 was an annual nominal rate of 2.70 % .
−Removed: For the year ended December 31, 2022, there were euro principal deposits of 679,568,682 , euro principal redemptions of 596,144,853 , and euro withdrawals (to pay expenses) of 1,970,473 resulting in an ending euro principal balance of 267,562,001 .
−Removed: This equates to 285,555,944 USD.
+Added: For the year ended December 31, 2023, there were euro principal deposits of 143,007,863 and euro principal redemptions of 212,205,189 resulting in an ending euro principal balance of 198,364,675 .
+Added: This equates to 219,125,708 USD (which includes USD subscriptions receivable).
For the year ended December 31, 2022 , there were euro principal deposits of 679,568,682 , euro principal redemptions of 596,144,853 and euro withdrawals (to pay expenses) of 1,970,473 , resulting in an ending euro principal balance of 267,562,001 .
36 unchanged sentences
Accordingly, the Sponsor expects the risk of loss to be remote.
−Removed: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
+Added: Changes in and Disagreements with Accou ntants on Accounting and Financial Disclosure.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.