CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 INDEPENDENT AUDITORS, REPORT TO THE DIOCESAN COUNCIL OF DOWN AND DROMORE Opinion We have audited the financial statements of Diocese of Down and Dromore for the year ended 31 December 2022 which comprise the slalement of financial activities {including income and expenditure a¢countl, statement of financial position and the relaled 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the charity's affairs as at 31 December 2022 and of it5 incoming resources and application of resovrces, including its income and expenditure, for the year then ended". have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Basis for opinlon We Gonducted our audit in accordance with Inlemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements 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 stalements in the UK, including the FRC'S Ethical Standard, and we have futfilled our other ethical responsibilities in accordance wlth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion Concluslons relating to going concern In audtling the financial statements, we have concluded that the trustees. use of Ihe going concern basis of accounting in the preparation of the financial statements is appropriate. 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 charity's ability to continue as a going concern for a period of at least •e1ve months from when the financial statements are authorised for issue. Our responsibilities and the re5ponsibilitie5 of the trustees with respect to going concern are described in the relevant sections of this report. Other information The olher information comprises the infomation included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infonnation. Our opinion on the financial statements does not cover the other informalion and, except to the extent otherwise explicstly stated in our report. we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read Ihe other information and, in doing so, constder whelher 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 such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the Work we have perfortned, we conclude that there is a material misslalement of this other information. we are required to report that fact. We have nothing to pOrt in this regard.
CHURCH OF IRÉLAND DIOCESE OF DOWN AND OROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2022 INDEPENDENT AUDITORS, REPORT TO THE DIOCESAN COUNCIL OF DOWN AND DROMORE ICONT'D) Oplnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in Ihe course oflhe audit,. the infomiation given in the Irustees, port for the financial year for whrch the financial statements are prepared is consistent with the financial ststements., and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and retums,. or certain disclosures of trustees, mUneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responsibilities of trustees A5 explained more fully in the trustees, responsibilities statement, Ihe 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 internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the chaity's ability to continue as a goin g concern. disclosing, as applicable. matters related to going conrn and using the going concern basis of arKounting unless the tnjstees either intend lo liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements OLEr objectives are to obtain reasonable assurance about whether the financial 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 r( 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 laken on Ihe basis of these financial statements. Irregularities, including fraud, a 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 deteding irregularities, including fraud is detailed below-. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following.. the nature of the industry and sector. conlrol environment and business perfomance including the design of the remuneration policies, key drivers for directors. remuneration, bonus levels and performance targets., 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 documentation of their policies and procedures relating to-.
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 INDEPENDENT AUDITORS, REPORT TO THE DIOCESAN COUNCIL OF DOWN AND DROMORE {CONT'D) identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance-. detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud; the inteTnal controls established to mitigate risks of fraud or non-compliance with laws and regulations. Ihe matters discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a resu of these procedures, we considered the opportunrties and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS {UK), we are also required to perfomi specific procedures to respond to the risk of management override. We also obtained an understsnding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulalions that had a direct effect on Ihe detem)ination of material amounts and disclosures in the financial statements. The key laws and regulations we Gonsidered in this context included ongoing compliance with the UK Companies Act and lax legislation. In addition, we considered Provisions of other laws and regulation5 that do not have a direct effect on the financial statements but Complian with which may be fundamental for their ability to operate or to avoid a material penally. As part of an audit in accordance with I&As (UKI. we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identfy and assess the risks of material misstatement ofthe financial statements. whether due to fraud Of error, design and perform audit procedures responsive to those risks, and obtain audit evidence thal is sufficient and appropriate to provide a basis for our opinion. The tisk of not detecting a material misststement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of inlernal control relevant to the audit in order to design audil procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on Ihe appropriateness of the trustees, use of the going concem basis of accounting and, based on the audil evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charily's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our audilorfs report to the related disclosures in the financial statements or. if such disclosuies are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a goin9 concem. Evaluate the overall presentation, structure and content of the financial ststements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presenlation. We communicate with those charged with governance regarding, among other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal conlrol that we identify during our audit. 10
CHURCH OF IRELAND DIOCESE OF DOWN AND DROMORE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2022 INDEPENDENT AUDITORS, REPORT TO THE DIOCESAN COUNCIL OF DOWN AND DROMORE (CONT'D) Use of our report Th report is made solely to the charity's members, as a body. in accordance with section 65 of the Charities Act (Northern Ireland) 2008. Our audit work has been undertaken so that we might stale to the Gharily's members 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 lo anyone other than the charity and the charity's member5 as a body, for our audit Wotk, for this report, or for the opinions we have formed. CONOR DOLAN FCA (Senior Statutory Auditor) For and on behalf of FINEGAN GIBSON LTD Chartered Accountants & Statutory Auditors Causeway Tower 9 James Street South Belfast BT2 8DN Date. .l£.{tS 11