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INDEPENDENT AUDITOR ' S REPORT To the Board of Trustees of “ Teach for Armenia ” Educational Foundation Opinion
We have audited the financial statements of “ Teach for Armenia ” Educational Foundation ( the “ Foundation ”), which comprise the statement of financial position as at 31 December 2021 , the statement of comprehensive income , the statement of changes in net asset and the statement of cash flows for the year then ended , and notes to the financial statements , including a summary of significant accounting policies .
In our opinion , the accompanying financial statements present fairly , in all material respects , the financial position of the Foundation as at 31 December 2021 , and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards (“ IFRSs ”).
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (“ ISAs ”). 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 Foundation in accordance with the International Ethics Standards Board for Accountants ’ Code of Ethics for Professional Accountants ( the “ IESBA Code ”), and we have fulfilled our other ethical responsibilities in accordance the IESBA Code . We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion .
Responsibilities of Management and Those Charged with Governance for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRSs , and for such internal control as management determines 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 , management is responsible for assessing the Foundation ’ 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 management either intends to liquidate the Foundation or to cease operations , or has no realistic alternative but to do so . Those charged with governance are responsible for overseeing the Foundation ’ s financial reporting process .
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