THE INSTITUTE OF THE BROTHERS OF THE CHRISTIAN SCHOOLS (IN NORTHERN IRELAND) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE INSTITUTE OF THE BROTHERS OF THE CHRISTIAN SCHOOLS (IN NORTHERN IRELAND) LIMITED Opinion We have audited the financial slatements of The Instttute of the Brothers of the Christian Schools {in Norlhem Ireland) Limited {the 'Company'l for the year ended 31 December 2023 which comprise the statement of financial activilies, the balance sheet, the slatement of cash flows and the notes to the financial stalemenls, including significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Iland and Accounling and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102. In our opinion, the financial statemenls- give a true and tsir view of the stale of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of reSoUrs, for the year then ended., have have been properly prepared in accordan with Financial Reporting Standard 102 'The Financial Reporting Slandard applicable in the UK and Republic of Ireland" and in accordance with the Slatement of Recommended Practice "Accounting and Reporting by Charities. and have been prepared in accordan with the requirements of the Companies Act 2006 and Charities Act (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing {UKI (ISAS {UKI} and applicable law. Our responsibilities under those standards are further described in the Auditorfs SponSibl11t1eS for the audit of the financial statements sedion of our report. We are independent of the Company in accordance with the ethical requirements that are relevanl to our audit of Ihe financial statements in UK. including the Elhical Slandard for Auditors issued by the Financial Reporting Council {FRC). and the provisions available for small entities, in the circumstances set out in note 3 to Ihe financial statements, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audtl evidence we have oblained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slatements. we have concluded that the Directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomed, we have nol identified any material uncertainties relating to events or conditions that, individually or collectivety, may cast significant doubt on the Company's ability to continue as a going concem for a period of at least Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant seclions of Ihis report. Other information The other information comprises the information included in the annual report other than the financial statements and our audilor's report thereon. The Directors are responsible for the other infomation contained within Ihe annual report. Our opinion on the financial statements does not cover the other information 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 infomiation is malerially inconsislent with the financial stalements or our knowledge obtained in the course of the audit, or otherwise appears to be materialty misstated. If we identify such material inconsistencies or apparent malerial misslatements, we are qUired to detemine whether Ihis gives rise to a material misstatemenl in the financial statements themselves. If. based on the work we have perfomied, we conclude that there is a material misstatement of this other infomation, we are required to report that fact. We have nothing to report in this regard.
THE INSTITUTE OF THE BROTHERS OF THE CHRISTIAN SCHOOLS (IN NORTHERN IRELAND) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE INSTITUTE OF THE BROTHERS OF THE CHRISTIAN SCHOOLS (IN NORTHERN IRELAND) LIMITED Opinion on the Other Matters Prescribed by the Companies Act 2006 Based solely on Ihe worf( undertaken in Ihe course of the audil, we report that= in our opinion, the information given in the Directors. Report is consistent with the financial ststements,. and in our opinion. the Directors, Report has been prepared in accordance wlth applicable legal requirements. We have obtained all the information and explanations which we consider necessary for the purposes of our audit. In our opinion the accounting records of the Company were sufficient lo pemiit Ihe financial ststements to be readily and properly audited, and Ihe financial slatemenls are in agreement with Ihe accounting records. Matters on which we are required to report by exception Based on the knowledge and understanding of the Company and its environment obtained in the course of the audil, we have not idenlified any material misstatements in the Directors. Annual Report. the information given in the financial statements is inconsistent in any material respect with the Directors, 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 information and explanations we require for our audit. Responsibilities of Directors As explained more fully in Ihe stalement of Directors, responsibilities. the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inlernal control as the Directors detemiine is necessary to enable the preparation of financial stalemenls thal are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the Directors either inlend to liquidate the chariiable company or to cease operatr'ons. 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 65{2) of the Charities Acl (Northem Ireland} 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audil conducled 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 stalements. Irregularilies, including fraud, are instances of non-complian wtlh laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The extenl to which our procedures are capable of detecling irregularities, including fraud, is delailed below. Extent to which the audit was considered capable of detecling irregularities. including fraud Irregularilies. including fraud, are inslances of noncompliance wtlh laws and regulalions. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed Ihese belween our audit team members. We Ihen designed and perfomed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
THE INSTITUTE OF THE BROTHERS OF THE CHRISTIAN SCHOOLS (IN NORTHERN IRELAND) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE INSTITUTE OF THE BROTHERS OF THE CHRISTIAN SCHOOLS (IN NORTHERN IRELAND) LIMITED We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulalions Ihal have a direct effect on the delemination of material amounts and disclosures in the financial statements. We assessed the required compliance with these laws and regulations as part of our audit procedures on the relaled financial statement items. In addition. we considered provisions of olher laws and regulations that do not have a direct effect on the financial stalemenls but compliance with which might be fundamental to the charity's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. Auditing standards limil Ihe required audit procedures to identty non-compliance with these laws and regulations to enquiry of the directors and olher management and inspection of gUlatOry and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, induding fraud, to be wilhin the timing and completeness of recognition of granl and conlracl income and major donations and the override of controls by management. Our audit ProdureS to respond to these risks included enquiries of management and the Audit Committee about their own identification and assessment of the risks of irregularities, testing of a sample of Iransaclions against Ihe lems of the funding agreemenls and the requirement of the Charities SORP {FRS1021, sample testing on the posting of journals. reviewing accounting estimates for biases and reading minules of meetings of those charged wilh g0veman. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may nol have delecled some material misstatements in the financial statements, even though we have propedy planned and performed our audit in accordance with auditing standards. In addition. as with any audrt, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery. intentional omissions. misrepresentalions, 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 the Finanual Reporting Council's website at.. https.'Il www.frc.org.uklaudilorsresponsibiif(ies. This description foms part of our audilorfs report. Joseph O'Brien (Senior Ststutory Auditor) for and on behalf of Walsh O'Brien Hamett Chartered Accountants and Slatutory Audit Fimi 104 Lower Baggot Street Dublin 2 22 September 2024 10-