Page 103 - Beeks Financial Cloud Group Annual Report 2021

Beeks Financial Cloud Group PLC
Independent Auditors’ Report to the members of Beeks Financial Cloud PLC For the year ended 30 June 2021

AN OVERVIEW OF THE SCOPE OF / The key focus for the audit of statements, our responsibility is to
OUR AUDIT the parent company, as identified read the other information and, in
We performed a risk-based audit within the key audit matters doing so, consider whether the other
that requires an understanding of section, is the valuation of the information is materially inconsistent
the parent company’s business and investment in Velocimetrics with the parent company financial
in particular matters related to: Limited, where the impairment statements or our knowledge
assessment was audited to gain obtained in the audit or otherwise
Understanding the parent assurance over the valuation of appears to be materially misstated.
company, its environment, the investment at year end; If we identify such material
including controls inconsistencies or apparent material
/ Our assessment of audit risk, Performance of our audit misstatements, we are required
our evaluation of materiality, / An interim visit was undertaken to determine whether there is a
our allocation of performance to perform specific audit material misstatement of the parent
materiality and the procedures procedures on equity raises company financial statements or a
performed as part of the audit, completed to December 2020; material misstatement of the other
enables us to form an opinion and information. If, based on the work we FINANCE
on the parent company financial / The year-end audit was have performed, we conclude that
statements. We take into undertaken remotely. there is a material misstatement
consideration account sizes, risk of this other information, we are
profile, changes in the business Changes in approach from required to report that fact.
environment and other factors previous year
when assessing the level of work / There were no material changes We have nothing to report in
to be performed on each scoped in the scope of the current year this regard.
item; from the scope of the prior year.
/ We have obtained an OUR OPINION ON OTHER MATTERS
understanding of the entity-level OTHER INFORMATION PRESCRIBED BY THE COMPANIES
controls of the parent company, The directors are responsible ACT 2006 IS UNMODIFIED
which assisted us in identifying for the other information. The In our opinion, based on the work
and assessing the risks of material other information comprises the undertaken in the course of the audit:
misstatement due to fraud or information included in the annual / the information given in the
error, as well as assisting us in report, other than the financial strategic report and the directors’
determining the most appropriate statements and our auditor’s report report for the financial year for
audit strategy; thereon. Our opinion on the financial which the parent company
statements does not cover the other financial statements are prepared
Work to be performed on financial information and, except to the extent is consistent with the parent
information of parent company otherwise explicitly stated in our company financial statements; and
(including how it addressed the key report, we do not express any form / the strategic report and the
audit matters) of assurance conclusion thereon. directors’ report have been
/ We performed a full scope audit prepared in accordance with
of the financial statements of the In connection with our audit of applicable legal requirements.
parent company; the parent company financial
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