Page 45 - RFU Annual Report 2017

43
Financial Statements

Independent Auditor’s Report Standard, and we have fulfilled our in the financial statements or a
to the Members of the Rugby other ethical responsibilities in material misstatement of the other
Football Union accordance with these requirements. information. If, based on the work
We believe that the audit evidence we have performed, we conclude
Opinion we have obtained is sufficient and that there is a material misstatement
appropriate to provide a basis for our of this other information, we are
We have audited the financial opinion. required to report that fact.
statements of the Rugby Football
Union for the year ended 30 June Conclusions relating to We have nothing to report in this
2017 which comprise the Group going concern regard.
Profit and Loss Account, the Group
Statement of Comprehensive We have nothing to report in respect Matters on which we are required
Income, the Group and Parent of the following matters in relation to report by exception
Balance Sheets, the Group and to which the ISAs (UK) require us to
Parent Statement of Changes report to you where: We have nothing to report in respect
in Equity, the Group Cash Flow of the following matters where
Statement and notes to the financial the Directors’ use of the going the Co-operative and Community
statements, including a summary of concern basis of accounting in Benefit Societies Act 2014 requires us
significant accounting policies. The the preparation of the financial to report to you if, in our opinion:
financial reporting framework that statements is not appropriate; or
has been applied in their preparation a satisfactory system of control
is applicable law and FRS 102 “The the Directors have not disclosed over transactions has not been
Financial Reporting Standard in the financial statements any maintained; or
applicable in the UK and Republic of identified material uncertainties
Ireland” (United Kingdom Generally that may cast significant doubt the Rugby Football Union has not
Accepted Accounting Practice). about the Group’s or the Parent’s kept proper books of account; or
ability to continue to adopt the
In our opinion the financial going concern basis of accounting the financial statements are not
statements: for a period of at least twelve in agreement with the books of
months from the date when the account; or
give a true and fair view of the financial statements are authorised
state of the Group’s and of the for issue. we have not received all the
Parent’s affairs as at 30 June 2017 information and explanations we
and of the Group’s loss for the year Other information require for our audit.
then ended;
The Directors are responsible Responsibilities of Directors
have been properly prepared in for the other information. The
accordance with United Kingdom other information comprises the As explained more fully in the
Generally Accepted Accounting information included in the annual Directors’ Responsibilities Statement
Practice; and report other than the financial set out on page 42, the Directors
statements and our auditor’s report are responsible for the preparation
have been prepared in accordance thereon. Our opinion on the financial of the financial statements and for
with the Co-operative and statements does not cover the other being satisfied that they give a true
Community Benefit Societies Act information and, except to the extent and fair view, and for such internal
2014. otherwise explicitly stated in our control as the Directors determine is
report, we do not express any form of necessary to enable the preparation
Basis for opinion assurance conclusion thereon. of financial statements that are free
from material misstatement, whether
We conducted our audit in In connection with our audit due to fraud or error.
accordance with International of the financial statements, our
Standards on Auditing (UK) responsibility is to read the In preparing the financial statements,
(ISAs (UK)) and applicable law. other information and, in doing the Directors are responsible for
Our responsibilities under those so, consider whether the other assessing the Group’s and the
standards are further described in information is materially inconsistent Parent’s ability to continue as a going
the Auditor’s responsibilities for the with the financial statements or concern, disclosing, as applicable,
audit of the financial statements our knowledge obtained in the matters related to going concern
section of our report. We are audit, or otherwise appears to be and using the going concern basis
independent of the Rugby Football materially misstated. If we identify of accounting unless the Directors
Union in accordance with the ethical such material inconsistencies or either intend to liquidate the Group
requirements that are relevant to our apparent material misstatements, we or the Parent or to cease operations,
audit of the financial statements in are required to determine whether or have no realistic alternative but to
the UK, including the FRC’s Ethical there is a material misstatement do so.

Annual Report 2017