1.6 Your responsibility for preparation of the financial statements extends to the application of exemptions and options on transition to, and application of, new accounting standards. As Trustees of the scheme you should also consider the impact of new accounting standards on the scheme.
1.7 As part of our audit process, we will request from the Trustees and, where appropriate, those charged with governance, written confirmation concerning representations made to us in connection with the audit. In particular, where we bring misstatements in the financial statements to your attention that are not adjusted, we shall require written representation as to whether you believe the effects of the uncorrected misstatements are immaterial, individually and in aggregate, to the financial statements as a whole.
1.8 In order to assist us with the examination of your financial statements, we shall request sight of all documents or statements which are to be incorporated into the annual report of which the financial statements will form part, including the trustees’ report, the actuarial statements, summary of contributions, the compliance statement and the investment report. We have a professional responsibility to satisfy ourselves that they are consistent with and do not undermine the credibility of the financial statements. However, our responsibility in relation to reports by the scheme’s actuary and other scheme advisers is limited to understanding the implications of those reports for the scheme’s financial statements.
We look forward to full cooperation from your staff during our audit.