Imperial Grand Black Chapter of the British Commonwealth Independent Auditor's report for the year ended 31 December 2023 Oplnlon We have audited the financial statements of the Imperial Grand Black Chapter of the British Commonwealth as set out on pages 12 - 19 for the year ended 31 Dmber 2023, which comprise of the Statement of Financial Activities, The Statement of Financial Position, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial ststements.. give a true and fair view of the state of the charity as at the 31 December 2023 and of its incoming resources and application of resources, for the year then ended,. have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practise., and have been prepared in accordance with the requirements of the Charities Act {Northem Ireland) 2008. Basis for our opinion We conducted our audit in accordance with Intemational Standards on Audiling (UK} IISAS IUK}) and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of the Inancial st8t8ments section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRS'S Ethical Standard, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audrt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the truslees wilh Spect to going concem are described in the relevant sections of this report. Other Information The other infomation cornprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomation contained within the annual report. Our opinion on the financial statements does not cover the other Infomation and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otheNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine whether this gives rise to a material misstatement in the financial 5talements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard.
Imperial Grand Black Chapter of the British Commonwealth Independent Auditors report for the year ended 31 December 2023 (Continued) Matters on which we are required to report by exception: We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015 require us to report to you if, in our opinion.. the information given in the financial statements is inconsislent in any material respect with the trustees, report" or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records,. or we have not received all the infonatIon and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees 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 detemine is necessary to enable the preparation of the financial slatements that are free from material misstatement, whether due to fraud or error. In preparing Ihe financial statements, the trustees are responsible for assessing the charity's ability to continue as a going COnM, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic altemative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 6512) of the Charities Act (Northem Ireland) 2008 and report in accordance with regulations made under section 66 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemenl, 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 IUKI 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 agggate, they could reasonably be expected to influence the economic decision of users taken on the basis of these financial statements.
Imperial Grand Black Chapter of the British Commonwealth Independent Auditors report for the year ended 31 December 2023 {Continued) Extent to which the audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing potential risks of material misstalement in respect of iwularib'es, including fraud and non-compliances with laws and regulation, we considered the following.. The nature of the industry and sector, control environment and business perfomance, including the charity's remunerab'on Fxjlicies for tnjstees, bonus levels and perfoThance targets, if any., Results of our enquiries of management about their own identification and assessment of the risks of irregularities,. Any matters we identified having obtained and reviewed the charity's documentab'on of their policies and prOdureS relating to.. Identifying, evaluating and complying with laws and regulations and whether they are aware of any instance of non-complian., Detecting and responding to the risks of fraud and whether they have knowledge of any actual suspected or alleged fraud., and The intemal controls established to mitigate risks of fraud or non<ompliance with laws and regulations., The mattefs discussed among the audit engagement team regarding how and where fraud might occur in Ihe financial statements and potential indications of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the Charity for fraud and identified the greatest potential for fraud in income recognition and payment authorisations. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a d1ct effect on the delemination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities (Accounts and Repjrts) Regulations (Northem Ireland) 2015, and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but Complian with which may be fundamentsl lo the charity's ability to operate or to avoid a material penalty.
Imperial Grand Black Chapter of the British Commonwealth 10 Independent Auditors report for the year ended 31 December 2023 (Continued) Audit response to risks identified Our predureS to respond to the risks identified included the following.. Reviewing the financial statement disclosures and testing to supporting documentation to assess Complian with provisions of relevant laws and regulations described as having a direct effect on the financial statements., Enquiring of management conceming actual and potential lilj'galion and claims., Perfomiing analytical prcKedures to identify and unusual or unexpected relationships that may indicate risks of malerial misstatements due to fraud. Reading minutes of meetings of those charged with govemance and reviewing correspondence with tax authorities., and In addressing the risk of fraud through management overrtde of controls, testing the appropriateness of joumal entnes and other adjustments.. assessing whether the judgements made in making accounting estimates are indicats've of a potential bias,. and evaluating the business rationale of any significant transactions that are unusual or outside Ihe nomial course of business. We also communicated relevant identified laws and regulalions and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Owing to the Inherent limitations of an audit, there is an unavoidable risk that we may not have detecled some material misslatements in the financial statements, even though we have properly planned and perfoffned our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher nsk of non4eleclion of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations. A further description of our responsibilities is available on Ihe Financial Reporting Council's website at: htt s.Ilwww frc.o .uklauditorsres onsibilities. This description forms part of our auditor's report.
Imperial Grand Black Chapter of the British Commonwealth 11 Independent Auditors report for the year ended 31 December 2023 (Continued) Use of our report This report is made solely to the charity's trustees, as a body, in accordan with part 4 of the Charilies (Accounts and Reports) Regulats'ons {Northem Ireland} 2015. Our audit work has been undertaken so that we might state to the charity's tnjstees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other that the charity and the charity's trustees as a bcrfjy, for our audit work, forthis report, or forthe opinions we have fomied. Emphasis of Matter During the Audit it was communicaled by the Trustees that a material amount of money needed to be prowded for in the accounts for the year ended 31 Dember 2023. This is disclosed in note 16 in the accounts. Noel Conn FCA (Senior Statutory Auditor) For and on behalf of Noel Conn & Company, Statutory Auditor 7 Seven Houses Upper English Street Armagh BT617LA Date