Page 124 - Annual Report 2017

| 124 125 |

INDEPENDENT AUDITOR’S REPORT TO THE Board OF DIRECTORS OF Other Information
QATAR FINANCIAL CENTRE REGULATORY AUTHORITY
Other information consists of the information included in the annual
REPORT ON THE AUDIT OF THE report, other than the financial statements and our auditors’ report
thereon. Management is responsible for the other information. The
FINANCIAL STATEMENTS QFC Regulatory Authority’s 2017 Annual Report is expected to be
made available to us after the date of this auditors’ report.
Our opinion on the financial statements does not cover the other
Opinion information and we do not express any form of assurance conclu-

sion thereon.
We have audited the financial statements of the Qatar Financial
Centre Regulatory Authority (the “QFC Regulatory Authority”), In connection with our audit of the financial statements, our respon-
which comprise the statement of financial position as at 31 Decem- sibility is to read the other information identified above when it
ber 2017, and the statement of comprehensive income, statement becomes available and, in doing so, consider whether the other
of cash flows and statement of changes in equity for the year then information is materially inconsistent with the financial statements
ended, and notes to the financial statements, including a summary or our knowledge obtained in the audit or otherwise appears to
of significant accounting policies. be materially misstated.

In our opinion, the accompanying financial statements present
fairly, in all material respects, the financial position of the QFC Responsibilities of Management and
Regulatory Authority as at 31 December 2017 and its financial the Audit Committee for the Financial
performance and its cash flows for the year then ended in accor-
dance with International Financial Reporting Standards (IFRSs). Statements
Management is responsible for the preparation and fair presenta-
Basis for Opinion tion of the financial statements in accordance with IFRS, and for
such internal control as management determines is necessary to
We conducted our audit in accordance with International Stan- enable the preparation of financial statements that are free from
dards on Auditing (ISA). Our responsibilities under those standards material misstatement, whether due to fraud or error.
are further described in the Auditor’s responsibilities for the audit of
the financial statements section of our report. We are independent In preparing the financial statements, management is responsible
of the QFC Regulatory Authority in accordance with the Interna- for assessing the QFC Regulatory Authority’s ability to continue as
tional Ethics Standards Board for Accountants’ Code of Ethics for a going concern, disclosing, as applicable, matters related to
Professional Accountants (IESBA Code) together with the ethical going concern and using the going concern basis of accounting
requirements that are relevant to our audit of the financial state- unless management either intends to liquidate the QFC Regulatory
ments in Qatar, and we have fulfilled our other ethical responsibilities Authority or to cease operations, or has no realistic alternative but
in accordance with these requirements and the IESBA Code. We to do so.
believe that the audit evidence we have obtained is sufficient and The Audit Committee is responsible for overseeing the QFC
appropriate to provide a basis for our opinion. Regulatory Authority’s financial reporting process.