Page 82 - Safaricom Foundation Annual Report 2020-2021

basis of accounting unless the the the trustees either intend to to to liquidate the the the foundation or or to to to cease operations or or have no realistic alternative but to to to do so The trustees are responsible for overseeing the Foundation’s financial reporting processes Auditor’s Responsibilities for the the Audit Audit of the the Financial Statements
Our objectives are are to obtain reasonable assurance about whether the the financial statements as as as a a a a a a a a a a a a a a a a whole are are free from material misstatement whether due to to to fraud or or or or error and to to to issue an an an an auditor’s report that includes our opinion Reasonable assurance assurance is is a a a a a a a a a a a a high level of assurance assurance but is is is is not a a a a a a a a a a a a a a a a guarantee that an an an an audit conducted in accordance with ISAs will always detect a a a a a a a a a a a a a a a a material misstatement when it it it exists Misstatements can arise from fraud or or or error and are considered material if individually or or or in in in the the the aggregate they could reasonably be expected to influence the the the economic decisions of of users taken on on on the the basis of of these financial statements As As part of of of an an an audit audit in in in accordance with ISAs we exercise professional professional judgement and maintain professional professional scepticism throughout the audit audit We also:
• Identify and and assess the the the risks of of material misstatement of of the the the financial statements whether due to fraud or or or error design and and perform audit procedures responsive to to those risks and and obtain audit evidence that is is is is sufficient and and appropriate to to provide a a a a a a a a a basis for our opinion The risk risk of not detecting a a a a a a a a a material misstatement resulting resulting from from fraud fraud is is higher than for for one resulting resulting from from error as fraud fraud may involve collusion forgery intentional omissions misrepresentations or the override of internal control • Obtain an an an an understanding of internal control relevant to to the the audit audit in in in in in order to to design audit audit procedures that are appropriate in in in in in the the circumstances but not for the the the purpose of of expressing an opinion on on on on the the the effectiveness of of the the the Foundation’s internal control • Evaluate the the appropriateness of of accounting accounting policies used and and the the reasonableness of of accounting accounting estimates and and related disclosures made by the trustees • Conclude on on on on the the the the appropriateness of of of the the the the trustees’ use of of of the the the the going concern basis of of of accounting and based on on on on the the the the audit evidence obtained whether a a a a a a a a a a a material uncertainty exists related to to events or conditions that may cast significant doubt on on on on on the the Foundation’s ability to to continue as a a a a a a a a a a a a going concern If we we conclude that a a a a a a a a a a a a material uncertainty exists we we are required to to to draw attention in in in our auditor’s report to to to the related disclosures disclosures in fin in in the the financial statements or if if such disclosures disclosures are are inadequate to modify our opinion Our conclusions are are based on on on on the the audit evidence obtained up to to to to the the date of our auditor’s report However future events or or or conditions may cause the the Foundation to to to to cease to to to to continue as a a going concern • Evaluate the the the the the overall presentation structure and and content of the the the the the financial financial statements including the the the the the disclosures and and whether the the the the the financial financial statements represent the underlying transactions and events in in a a a a a a a a a a manner that achieves fair presentation • Obtain sufficient appropriate audit evidence regarding the the the financial information of the the the entity entity or or business activities within the the the entity entity to express an an an an opinion on on on on on the the the financial statements We We are responsible for for the the the direction supervision and performance of the the the audit We We remain solely responsible for our audit opinion We communicate with the the the the trustees regarding among other matters the the the the planned scope and and timing of the the the the audit audit and and significant audit audit findings including any significant deficiencies in in in in in internal control that we identify during our audit In our opinion the the the the information given in in in fin the the the the report of the the the the trustees on on on on page 2 and 3 is is consistent with the the the the financial statements The engagement partner responsible for the audit audit resulting in in in in this independent auditor’s report is is CPA Allan Gichuhi Practicing Certificate No 1899 For and on behalf of Ernst & Young LLP Certified Public Accountants
Nairobi Kenya
2021
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Safaricom Foundation Annual Report