Page 98 - Beeks Financial Cloud Group Annual Report 2021
P. 98
96 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
OUR APPROACH TO THE AUDIT Key audit matters were identified as: We performed a full scope audit
/ Impairment of investment in of the financial statements of the
Velocimetrics Limited (new) parent company.
Our auditor’s report for the year
ended 30 June 2020 included one
key audit matter that has not been
reported as key audit matter in
our current year’s report, which
related to the impact of Covid-19
on going concern. This risk was
rebutted for the current year given
management’s ability to show no
significant impact of Covid-19 on
the performance of the business
and a strong cash balance due to
multiple equity raises in the year.
FINANCE
OVERVIEW OF OUR AUDIT
APPROACH
Overall materiality: £114,000,
which represents 1% of the parent
company’s total assets at the
planning stage of the audit.
