Baker Tilly is contracted by PCRIC as its Project Auditor and some of its activities include:
- Identifying and assessing the risks of material misstatement of the Project’s financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
- Obtaining an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Project’s internal control.
- Evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- Concluding on the appropriateness of the use of the going concern basis of accounting by the Directors and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Project’s ability to continue as a going concern.
- Evaluating the overall presentation, structure and content of the Project’s financial statements, including the disclosures, and whether the Project’s financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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