Brownlow Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Brownlow Limited {contlnuedJ Year ended 31 December 2023 Responsibilities of trustees As explained more fully in the trustees, responsibilities st*ment. the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees determine is ne￿SSary to enable the preparation of financial statements that are free trom materlal mlsstatement, wrjether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going con￿rn basis of accounkn'ng unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltorfs responsibilities for the audlt of the financial statsments Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemen( whether due to fraud or error, and to issue an auditof 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 influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design procedures in line wth our responsibilities, outlined above. to detect matenai misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and discussed the policies and procedures regarding compliance. Specific areas considered were as foll0v￿. Enquiring with management and others to gain an understsnding of the organisation itself including operations. financial reporting and known fraud or error. Evaluating and understanding the intemal control system. Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear. Testing documentation supporting account balan￿5 or classes of transactions. Owing to the inherent limitstions of an audit, there is an unavoidable risk that we may not have detected all irregularities including those leading to material misstatements in the financial statements or non-compliance with regulation, even though we have properly planned and performed our audit in accordan￿ auditing standards. This risk increases the more that compliance wrth a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-complian￿. The risk is also greater regarding irrÈgul8rities occurring due to fraud rather than @rror. as fraud involves intentional concealment, forgery, collusion. omlssion or mlsrepresentatlon. A further description of our responsibilrties is available on the Financial Reporttng Councifs websits at www.frc.org.uklauditorsresponsibilities. This description fonns part of our auditovs report. 23 Brownlow Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Brownlow Llmited (eonllnued) Year ended 31 December 2023 As part of an audit in accordance wtth ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identtfy and assess the risks of material misststement of the financial statements, whether due to fraud or error, design and perform audit Pro￿dureS responsive to those risks, and obtain audit evidence that is suffiaent and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve Collusion, forgery, intents.onai Omiss￿nS. misrepresentations, or the override of Intemal control. Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and ￿lated disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitvs abilty to continue as a going concem. If we conclude that a material uncertainty exists, we are ￿qUired to draw attention in our auditorfs report to the related disclosures in the financial ststements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs reporL However. future events or conditions may cause the charity to cease to Gontinue as a going ￿n￿ffi. Evaluate the overall presentation, structure and content of the financial $tatemants, including the disclosures, and vthether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Brownlow Limited Company Limited by Guaranteo Independent Audltorfs Report to the Members of Brownlow Limited (¢ontlnued) Year ended 31 December 2023 We communicate those charged with g0Veman￿ regarding, among other matters, the planned scope and timing of the audit and signfficant audit findings, including any significant deficienci@s in internal control that we identify during our audiL Use of our report This report is made solely to the charity'5 members. as a t)ody. in accordance with section 65 of the Charities Act (Northem Ireland) 2008. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pennitted by law. we do not accept or assume responsibility to anyone other than the charity and the charty's members as a body, for our audit work, for this report, or for the opinions we have fomied. James Casey (Senior Statutory Auditor) For and on behalf of Henry Murray & Company Ltd. Chartered Accountants & Ststutory Auditor 23 Church Place, Lurgan, Co. Armagh. N. Ireland BT66 6EY 26 September 2024 25-