upReach Annual Report 2023-24 - Report - Page 44
Independent Auditor’s Report To The Trustees
For The Year To 31 July 2024
Responsibilities of Trustees
As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees
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 group’s and the 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 group or the parent 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:
Based on our understanding of the charitable company and the industry in which it operates,
we identi昀椀ed that the principal risks of non-compliance with laws and regulations related to
the acts by the charitable company, which were contrary to applicable laws and regulations
including fraud, and we considered the extent to which non-compliance might have a material
effect on the 昀椀nancial statements. We also considered those laws and regulations that have a
direct impact on the preparation of the 昀椀nancial statements such as the Companies Act 2006.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the
昀椀nancial statements (including the risk of override of controls), and determined that the principal
risks were related to misstated revenue and the charitable company’s net income for the year.
Audit procedures performed included:
• Review of the 昀椀nancial statement disclosures to underlying supporting documentation;
• Review of correspondence with and reports to the regulators, including correspondence
with the Charity Commission;
• Detailed testing of income for the period and afterdate to ensure transactions have been
recognised in line with accounting policies;
• Enquiries of management; and
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