Page 88 - Annual Report 2021 EN
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Report on the Audit of the Financial Statements
Opinion Basis for Opinion Other information Responsibilities of Management
and Those Charged with Governance
We have audited the financial statements of Qatar We conducted our audit in accordance with International The Board of Directors is responsible for the other
for the Financial Statements
Financial Centre Regulatory Authority (“the Regulatory Standards on Auditing (ISAs). Our responsibilities information. The other information comprises the
Authority”), which comprise the statement of under those standards are further described in the annual report but does not include the financial
Management is responsible for the preparation and
financial position as at December 31, 2021, and Auditor’s Responsibilities for the Audit of the Financial statements and our auditor’s report thereon.
fair presentation of the financial statements in
the statement of comprehensive income, statement Statements section of our report. We are independent The annual report is expected to be made available
accordance with IFRS, and for such internal control as
of changes in equity and statement of cash flows of the Regulatory Authority in accordance with the to us after the date of this auditor’s report.
management determines is necessary to enable the
and notes to the financial statements, including International Ethics Standards Board for Accountants’
preparation of financial statements that are free from
a summary of significant accounting policies. Code of Ethics for Professional Accountants (IESBA Our opinion on the financial statements does not
material misstatement, whether due to fraud or error.
Code) together with the other ethical requirements that cover the other information and we will not express
In our opinion, the accompanying financial statements are relevant to our audit of the Regulatory Authority’s any form of assurance or conclusion thereon.
In preparing the financial statements, management is
present fairly, in all material respects, the financial financial statements in State of Qatar, and we have
responsible for assessing the Regulatory Authority’s
position of the Regulatory Authority as at December fulfilled our other ethical responsibilities. We believe In connection with our audit of the financial statements,
ability to continue as a going concern, disclosing, as
31, 2021, and its financial performance and its cash that the audit evidence we have obtained is sufficient our responsibility is to read the other information
applicable, matters related to going concern and
flows for the year then ended in accordance with and appropriate to provide a basis for our opinion. identified above when it becomes available and, in
using the going concern basis of accounting unless
International Financial Reporting Standards (IFRSs). doing so, consider whether the other information
management either intends to liquidate the QFCRA
is materially inconsistent with the financial
or to cease operations, or has no realistic alternative
statements or our knowledge obtained in the audit,
but to do so.
or otherwise appears to be materially misstated.
Those charged with governance are responsible
When we read the information of the annual
for overseeing the Regulatory Authority’s financial
report of the Regulatory Authority, if we conclude
reporting process.
that there is a material misstatement therein,
we are required to communicate the matter to
those charged with governance.
