Page 274 - DSD ANNUAL REPORT 2022-2

INFORMA
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E: FINANCIAL
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E: FINANCIAL
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PART E: FINANCIAL INFORMATION STATE PRESIDENT FUND
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INFORMA
Annexure – Auditor-General’s responsibility for the audit
1. As part of an audit in accordance with the ISAs, I exercise Communication with those charged with governance
professional judgement and maintain professional scepticism 3. I communicate with the accounting authority regarding,
throughout my audit of the financial statements. among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant
Financial statements deficiencies in internal control that I identify during my audit.
2. In addition to my responsibility for the audit of the financial 4. I also provide the accounting authority with a statement that
statements as described in the auditor’s report, I also: I have complied with relevant ethical requirements regarding
* identify and assess the risks of material misstatement of independence, and to communicate with them all relationships
the financial statements whether due to fraud or error, and other matters that may reasonably be thought to bear
design and perform audit procedures responsive to those on my independence and, where applicable, actions taken to
risks, and obtain audit evidence that is sufficient and ap- eliminate threats or safeguards applied.
propriate to provide a basis for my opinion. The risk of not
detecting a material misstatement resulting from fraud
is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepre-
sentations, or the override of internal control
* obtain an understanding of internal control relevant to
the audit in order to design audit procedures that are ap-
propriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the fund’s
internal control
* evaluate the appropriateness of accounting policies used
and the reasonableness of accounting estimates and re-
lated disclosures made by the board, which constitutes the
accounting accounting authority conclude on the appropri-
ateness of the accounting authority’s use of the going con-
cern basis of accounting in the preparation of the financial
statements. I also conclude, based on the audit evidence
obtained, whether a material uncertainty exists relating to
events or conditions that may cast significant doubt on the
ability of the State President Fund to continue as a going
concern. If I conclude that a material uncertainty exists, I
am required to draw attention in my auditor’s report to the
related disclosures in the financial statements about the
material uncertainty or, if such disclosures are inadequate,
to modify my opinion on the financial statements. My con-
clusions are based on the information available to me at
the date of the auditor’s report. However, future events or
conditions may cause a fund to cease operating as a going
concern
* evaluate the overall presentation, structure and content
of the financial statements, including the disclosures, and
determine whether the financial statements represent
the underlying transactions and events in a manner that
achieves fair presentation.

DEPARTMENT OF SOCIAL DEVELOPMENT ANNUAL REPORT 2021/22 274