Tnthees. knnual Rep & Fin**ial 2022 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF IRISH FA FOUNDATION LIMITED Report on the audit of the financial statements OPINION In our opinion, Irish FA Foundation Limited s financial statements (the "financial statements J: give a true and fair view of the state of the charitable company's affairs We remained independent ofthe as at 31 December 2022 and of its charitable company in accordance incoming resources and application Wlth the ethical requirements that are of resources, Including its income relevant to our audit of the financial and expenditure, and cash flows. statements in the UK, which includes for the year then ended, the FRCS Ethical Standard and we have fulfilled our other ethical have been properly prepared in responsibilities in accordance with accordance with United Kingdom these requirements Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and applicable law),. and have been prepared in accordance with the requirements of the Companies Act 2006. We have audited the financial statements, included within the Annual Report and Financial Statements (the 'Annual Report). which comprise: the Charity balance sheet as at 31 December 2022, the statement of financial activities (including Income and expenditure account) and the statement of cash flow for the year then ended and the notes to the financial statements, which include the accounting policies. sufficient and appropriate to provide a basis for our opinion. statements and our auditors, report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon. INDEPENDENCE In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the In auditing the financial statements. financial statements or a material we have concluded that the trustees, misstatement ofthe other use of the going concern basis of information. If, based on the work accounting in the preparation of the we have performed, we conclude financial statements is appropriate. that there is a material misstatement of this other information, we are However. because not all future iequired to report that fact. We have events or conditions can be predicted, nothing to report based on these this conclusion is not a guarantee as responsibilities. to the charitable companls ability to continue as a going concern. With respect to the Trustees, Annual Report, we also considered whether Our responsibilities and the the disclosures required by the UK responsibilities of the trustees Companies Act 2006 and Charities with respect to going concern are Act 2011 have been included. described in the relevant sections of this report. CONCLUSIONS RELATING TO GOING CONCERN Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companys abilityto continue as a going concern for a period of at least twelve months from the date on which the financial statements are authorised for issue. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK).) and applicable18w. Our responsibilities under ISAS (UK) are further described in the ALJditors' responsibilities for the audit of the financial statements section of our report We believe that the audit evidence we have obtained is Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below. REPORTING ON OTHER INFORMATION The other information comprises all of the information in the Annual Report other than the financial 47
Irish FA Found*ion Limited TRUSTEES, ANNUAL REPORT either intend to liquidate the charitable company or to cease operations. or have rlo realistic alternative but to do so. Regulations (Northern Ireland) 2015. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results, including the recognition of incoming resources, and management bias in accounting estimates or significant judgements. Audit procedures performed included.. Identifying and testing journal entries, in particular anyjournal entries posted with unusual account combinations., In our opinion, based on the work undertaken in the course of the audit the information given in the Trustees, Annual Report forthe year ended 31 December 2022 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements. In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Trustees, Annual Report. AUDITORS. RESPONSIBILITIES FOR THEAUDIT OFTHE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud orerror, and to issue an auditors, 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. RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS AND THE AUDIT Assessed managements compliance with the commitments under their restricted funds., Discussions with management, including consideration of known or suspected instances of noncompliance with laws and regulations and fraud., Reviewing the charitable company's litigation register as far as it related to non-compliance with laws and regulations and fraud., and Reviewing relevant meeting minutes, including those of the Trustees RESPONSIBILITIES OF THE TRUSTEES FOR THE FINANCIAL STATEMENTS As explained more fully in the Statement of Trustees, responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Irregularities, including fraud, are instances of non£ompliance 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. There are inherent limitations in the audit procedures described above. We are less likely to become aware Based on our understanding ofthe of instances of non-compliance charitable company, we identified with laws and regulations that are that the principal risks of non- not closely related to events and compliance with laws and regulations transactions reflected in financial and we considered the extent to statements Also, the risk of not which non<ompliance might have detecting a material misstatement due to fraud is higher than the risk a material effect on the financial of not detecting one resulting from statements. We also considered those laws and regulations that error, as fraud may involve deliberate concealment by. for example, forgery have a direct impact on the financial or intentional misrepresentations or statements such as the Companies through collusion. Act 2006. the Charities Act (Northern Ireland) 2008 and Regulation (8) of A further description of our The Charities (Accounts and Reports) responsibilities for the audit of the In preparing the financial statements, the trustees are responsible for assessing the charitable 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 48
Tnthees. knnual Rep & Fin**ial Stalements 2022 financial statements is located on the FRCS website at.. www.frc. org uk/auditorsresponsibilities. This description forms part of our auditors, report ENTITLEMENTTO EXEMPTIONS Underthe Companies Act 2006 we are required to report to you if, in our opinion, the trUstS were not entitled to.. prepare financial statements in accordance with the small companies, regime, take advantage ofthe small companies. exemption in preparing the Trustees, Annual Report,. and take advantage of the small companies exemption from preparing a Strategic Report. We have no exp[lonS to report arising from this responsibility. USE OF THIS REPORT This report, including the opinions, has been prepared for and only for the charitys members as a body in accordance with Chapter 3 of Part 16 ofthe Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose orto any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing. OTHER REQUIRED REPORTING COMPANIES ACT 2006 EXCEPTION REPORTING Martin Cowie Senior Statutory Auditor for and on behalf of Pricewaterhousecoopers LLP Chartered Accountants and Statutory Auditors Belfast 31 May 2023 Under the Companies Act 2006 we are required to report to you if, in our opinion.. we have not obtained all the information and explanations we require for our audit,. or adequate accounting records have not been kept or certain disclosures of trustees, remuneration specified by law are not made,. or the financial statements are not in agreement with the accounting records and returns. We have no exceptions to report arising from this responsibility. 49