AnnualReportfor20251SeptCOMP2026 - Flipbook - Page 28
Matters on which we are required to report
by exception
In the light of the knowledge and understanding of the
charitable company and its environment obtained in the
course of the audit, we have not identi昀椀ed material
misstatements in the Trustees’ Report.
We have nothing to report in respect of the following
matters in relation to which Companies Act 2006 and
the Charities Accounts (Scotland) Regulations 2006 (as
amended) require us to report to you if, in our opinion:
• adequate accounting records have not been kept or
returns adequate for our audit have not been received
from branches not visited by us; or
• the 昀椀nancial statements are not in agreement with
the accounting records and returns; or
• certain disclosures of Trustees’ remuneration speci昀椀ed
by law are not made; or
• we have not received all the information and
explanations we require for our audit; or
• the Trustees were not entitled to prepare the 昀椀nancial
statements in accordance with the small companies
regime and take advantage of the small companies’
exemptions in preparing the Trustees’ Report and from
the requirement to prepare a Strategic Report.
Responsibilities of the Trustees
As explained more fully in the Trustees’ Responsibilities
Statement, the Trustees (who are also the directors of
the charitable company for the purposes of company
law) are responsible for the preparation of the 昀椀nancial
statements and for being satis昀椀ed that they give a
true and fair view, and for such internal control as
the Trustees determine is necessary to enable the
preparation of 昀椀nancial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the 昀椀nancial statements, the Trustees are
responsible for assessing the charitable company’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 the Trustees either
intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditors’ responsibilities for the audit of the
昀椀nancial statements
We have been appointed as auditor under section 144
of the Charities Act 2011 and section 44(1)(c) of the
Charities and Trustee Investment (Scotland) Act 2005
and report in accordance with the Act and relevant
regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance
about whether the 昀椀nancial statements as a whole
are free from material misstatement, whether due to
fraud or error, and to issue an Auditors’ Report that
includes our opinion. Reasonable assurance is a high
level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAs (UK) will always
detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate,
they could reasonably be expected to in昀氀uence the
economic decisions of users taken on the basis of these
昀椀nancial statements.
Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design
procedures in line with our responsibilities, outlined
above, to detect material misstatements in respect
of irregularities, including fraud. The extent to which
our procedures are capable of detecting irregularities,
including fraud, is detailed below.
• The nature of the sector, control environment and the
Charity’s performance.
• Results of our enquiries of management and the Trustees,
about their own identi昀椀cation and assessment of the risks
of irregularities.
• Any matters we identi昀椀ed having obtained and reviewed
the Charity’s documentation of their policies and
procedures relating to:
• identifying, evaluating and complying with laws
and regulations and whether they were aware
of any instances of non-compliance;
• detecting and responding to the risks of fraud and
whether they have knowledge of any actual,
suspected or alleged fraud;
• the internal controls established to mitigate
risks of fraud or non-compliance with laws and
regulations; and
• the matters discussed among the audit
engagement team regarding how and where
fraud might occur in the 昀椀nancial statements
and any potential indicators of fraud.
As a result of these procedures, we considered the
opportunities and incentives that may exist within
the organisation for fraud, which included incorrect
recognition of revenue, management override of
controls using manual journal entries, purchase ledger,
and identi昀椀ed the greatest potential for fraud as
incorrect recognition of revenue and management
override using manual journal entries.
In common with all audits under ISAs (UK), we are also
required to perform speci昀椀c procedures to respond to
the risk of management override.
28 Vincent Wildlife Trust Annual Report and Financial Statements 2025
