Financial Statements 2020 | 35
Matters on which we are required to report by exception We have nothing to report in respect of the following matters where we are required by the Co-operative or Community Benefit Societies Act 2014 or the Housing and Regeneration Act 2008 to report to you if , in our opinion :
n The information given in the Report of the Board for the financial year for which the financial statements are prepared is not consistent with the financial statements ;
n Adequate accounting records have not been kept by the Association ; or
n A satisfactory system of control has not been maintained over transactions ; or
n The Association financial statements are not in agreement with the accounting records and returns ; or
n We have not received all the information and explanations we require for our audit .
Responsibilities of the Board As explained more fully in the Board Members responsibilities statement set out on pages 31 - 32 , the Board is 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 Board Members 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 Board are responsible for assessing the Association ’ 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 Board either intend to liquidate the Association or to cease operations , or have no realistic alternative but to do so .
Auditor ’ s responsibilities for the audit of the 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 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 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 .
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council ’ s website at : www . frc . org . uk / auditorsresponsibilities . This description forms part of our auditor ’ s report .
Use of our report This report is made solely to the members of the Association , as a body , in accordance with the Housing and Regeneration Act 2008 and the Co-operative and Community Benefit Societies Act 2014 . Our audit work has been undertaken so that we might state to the Association ’ 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 to anyone other than the Association and the members as a body , for our audit work , for this report , or for the opinions we have formed .
Kyla Bellingall Senior Statutory Auditor
For and on behalf of BDO LLP , statutory auditor Two Snowhill , Birmingham , B4 6GA 10th September 2020
BDO LLP is a limited liability partnership registered in England and Wales ( with registered number OC305127 ).