COMPILATION OF THE FINANCIAL STATEMENTS (PENSIONS)
The purpose of this schedule to our engagement letter is to set out the basis on which we are to compile the accounts for the pension scheme.
1. OUR RESPONSIBILITIES
1.1We shall compile the annual financial statements based on the accounting records maintained by you and the information and explanations given to us by you. We shall compile draft annual financial statements for your approval. We shall plan our work on the basis that no report is required by statute or regulation for the year, unless you inform us in writing to the contrary.
1.2Our work as the compilers of the annual financial statements will not be an audit of the financial statements in accordance with the International Standards on Auditing (UK and Ireland). Consequently our work cannot be relied upon to confirm that the accounting records or the financial statements are free from material misstatement, whether caused by fraud, other irregularities or error.
1.3We shall report, with any variations that we consider may be necessary, that in accordance with your instructions, we have compiled without carrying out an audit, the financial statements from the accounting records of the scheme and from the information and explanations supplied to us.