Keele University
Council responsibilities
As explained more fully in their statement set out on pages 25 , the Council is responsible for : the preparation of the financial statements and for being satisfied that they give a true and fair view ; such internal control as it determines is necessary to enable the preparation of financial statements that are free from material misstatement , whether due to fraud or error ; assessing the Group and parent University ’ 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 it either intends to liquidate the Group or the parent University or to cease operations , or has no realistic alternative but to do so .
Auditor ’ s responsibilities
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 our opinion in an auditor ’ s report . Reasonable assurance is a high level of assurance , but does not 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 aggregate , they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements .
A fuller description of our responsibilities is provided on the FRC ’ s website at frc . org . uk / auditorsresponsibilities
Report on other legal and regulatory requirements
We are required to report on the following matters by the Accounts Direction dated 25 October 2019 issued by the Office for Students (‘ the Accounts Direction ’).
In our opinion , in all material respects :
• funds from whatever source administered by the Group or the University for specific purposes have been properly applied to those purposes and managed in accordance with relevant legislation ;
• income has been applied in accordance with the University ’ s Statutes ;
• funds provided by the Office for Students , UK Research and Innovation ( including Research England ), the Education and Skills Funding Agency and the Department for Education have been applied in accordance with the relevant terms and conditions ; and
• meet the requirements of the Accounts Direction dated 25 October 2019 issued by the Office for Students
Matters on which we are required to report by exception
We are required by the Accounts Direction to report to you where the University has an access and participation plan that has been approved by the Office for Students ’ director of fair access and participation and the results of our audit work indicate that the Group ’ s and the University ’ s expenditure on access and participation activities for the financial year disclosed in Note 33 has been materially misstated .
We are also required by the Accounts Direction to report to you where the results of our audit work indicate that the Group ’ s and the University ’ s grant and fee income , as disclosed in note 3 to the financial statements has been materially misstated .
We have nothing to report in these respects .
The purpose of our audit work and to whom we owe our responsibilities
This report is made solely to the Council in accordance with the Charters and Statutes of the institution and section 124B of the Education Reform Act 1988 . Our audit work has been undertaken so that we might state to the Council 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 University and the Council for our audit work , for this report , or for the opinions we have formed .
Tim Cutler
For and on behalf of KPMG LLP , Statutory Auditor Chartered Accountants , 1 St Peters Square , Manchester M2 3AE
24 November 2021
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