The responsibility for the integrity of the financial information included in the annual reports and financial statements rests with the Executive Board. The opinions on financial statements are included. As a non-profit organisation, we have high standards of ethical financial reporting supported by our core values. An attention is given to a constant track on how funds are used, to ensure that the adequate and unbiased reporting standards are attained. Our procedure provides reasonable assurance that operations are conducted in conformity with applicable rules as set out by donors in grant agreements.
The Executive Board pursues its responsibility for quality financial reporting which primarily acts as an audit committee, to ensure that our responsibility to ethical internal budget control and financial reporting are met. In our opinion, the organisation maintains, in all material respects, effective internal control over financial reporting based on the Executive Board assessment of and its conclusion on the internal control over funds. Each annual financial reporting includes the budget acquired as final payments for the projects completed in the previous year, which are included in current financial statements and represented in % of total cash flow as of December 31 of the reporting year.
The balance sheets, related statements of income, and cash flows for the period ended December 31 of the reporting year, and related notes expressed our qualified opinion. The Executive Board’s assessment on the internal control over financial reporting is presented. Its responsibility is to express an opinion on the organisation’s internal control over financial reporting based on an internal audit. Under most grant agreements we are not required to use external auditors. If an external auditor is required, the requirement is set out in the grant agreement, and this can be done by project. We thus believe that our audit provides a reasonable basis for our opinion. Go to the report