St Elizabeths Centre Annual Report End Dec 2022 FINAL - Flipbook - Page 37
Responsibilities of Trustees
As explained more fully in the Trustees’ responsibilities statement, the
Trustees (who are also the directors of the Charity for the purposes
of company law) are responsible for the preparation of the 昀椀nancial
statements and for being satis昀椀ed that they give a true and fair view,
and for such internal control as the trustees determine is necessary to
enable the preparation of 昀椀nancial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the 昀椀nancial statements, the trustees are responsible for
assessing the charitable parent company’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the trustees either
intend to liquidate the company or to cease operations, or have no
realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the
昀椀nancial statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with
ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected
to in昀氀uence the economic decisions of users taken on the basis of these
昀椀nancial statements.
Irregularities, including fraud, are instances of non-compliance with laws
and regulations. We design procedures in line with our responsibilities,
outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are
capable of detecting irregularities, including fraud is detailed below:
How the audit was considered capable of detecting irregularities
including fraud
Our approach to identifying and assessing the risks of material
misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:
•
The engagement partner ensured that the engagement team
collectively had the appropriate competence, capabilities and skills
to identify or recognise non-compliance with applicable laws and
regulations;
•
We identi昀椀ed the laws and regulations applicable to the charity
through discussions with key management and from our knowledge
and experience of the charity sector;
•
We focused on speci昀椀c laws and regulations which we considered
may have a direct material effect on the accounts or the activities of
the charity. These included but were not limited to the Companies
Act 2006, the Charities Act 2011, the Charities SORP and speci昀椀c
Education and Care legislation relating to vulnerable individuals;
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