Page 96 - Beeks Financial Cloud Group Annual Report 2021

94 Beeks Financial Cloud Group PLC For the year ended 30 June 2021

Independent Auditors’ Report to the members of Beeks Financial Cloud PLC

Independent

Auditors’ Report

OPINION BASIS FOR OPINION in the financial statements or, if
Our opinion on the parent We conducted our audit in such disclosures are inadequate,
company financial statements is accordance with International to modify the auditor’s opinion. Our
unmodified Standards on Auditing (UK) conclusions are based on the audit
We have audited the parent (ISAs (UK)) and applicable law. evidence obtained up to the date
company financial statements of Our responsibilities under those of our report. However, future events
Beeks Financial Cloud Group PLC standards are further described or conditions may cause the parent
for the year ended 30 June 2021, in the ‘Auditor’s responsibilities for company to cease to continue as a
which comprise the company the audit of the parent company going concern.
statement of financial position, financial statements’ section of our
he company statement of report. We are independent of the Our evaluation of the directors’
changes in equity and notes parent company in accordance assessment of the parent
to the company financial with the ethical requirements company’s ability to continue to
statements, including a summary that are relevant to our audit of adopt the going concern basis of
of significant accounting policies. the parent company financial accounting was undertaken as part
statements in the UK, including the of our evaluation of The Group. This
The financial reporting framework FRC’s Ethical Standard as applied to evaluation included:
FINANCE
that has been applied in their listed entities, and we have fulfilled / Obtaining management’s cash
preparation is applicable law our other ethical responsibilities flow forecasts for The Group
and United Kingdom Accounting in accordance with these covering the period to December
Standards, including Financial requirements. We believe that the 2022. We assessed how these
Reporting Standard 101 ‘Reduced audit evidence we have obtained forecasts were compiled, and
Disclosure Framework’ (United is sufficient and appropriate to assessed their accuracy by
Kingdom Generally Accepted provide a basis for our opinion. validating underlying information
Accounting Practice). and verifying mathematical
CONCLUSIONS RELATING accuracy of the model used;
In our opinion, the parent company TO GOING CONCERN / Challenged management on
financial statements: We are responsible for concluding the key assumptions used with
/ give a true and fair view of the on the appropriateness of the the forecasts testing the accuracy
state of the parent company’s directors’ use of the going concern of the assumptions and inputs
affairs as at 30 June 2021; basis of accounting and, based by corroborating to underlying
/ have been properly prepared on the audit evidence obtained, information. We also assessed
in accordance with United whether a material uncertainty the mitigating actions available to
Kingdom Generally Accepted exists related to events or management and corroborated
Accounting Practice; and conditions that may cast significant these available actions to
/ have been prepared in doubt on the parent company’s supporting information;
accordance with the ability to continue as a going / Obtained forecast covenant
requirements of the concern. If we conclude that a compliance workings for the going
Companies Act 2006. material uncertainty exists, we are concern period and reperformed
required to draw attention in our the calculations to ensure
report to the related disclosures mathematical accuracy;