101 / 172
99
HSRC Annual Report 2016/17
Annexure – Auditor-General’s responsibility for the audit
1.
As part of an audit in accordance with the ISAs, I exercise professional judgment andmaintain professional scepticism
throughout my audit of the Financial Statements, and the procedures performed on reported performance
information for selected programme and on the entity’s compliance with respect to the selected subject matters.
Financial Statements
2.
In addition to my responsibility for the audit of the Financial Statements, as described in the auditor’s report, I also:
•
Identify and assess the risks of material misstatement of the 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 my opinion. The risk of not detecting a material misstatement resulting from fraud is higher
than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations
or the override of internal control;
•
Obtain 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
entity’s internal control;
•
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the Board of Directors, which constitutes the Accounting Authority;
•
Conclude on the appropriateness of the Accounting Authority’s use of the going-concern basis of accounting in the
preparation of the Financial Statements. I also conclude, based on the audit evidence obtained, whether a material
uncertainty exists relating to events or conditions that may cast significant doubt on the Human Sciences Research
Council’s ability to continue as a going concern. If I conclude that a material uncertainty exists, I am required to draw
attention in my auditor’s report to the related disclosures in the Financial Statements about the material uncertainty
or, if such disclosures are inadequate, to modify the opinion on the Financial Statements. My conclusions are based
on the information available to me at the date of the auditor’s report. However, future events or conditions may
cause an entity to cease operating as a going concern; and
•
Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and
whether the Financial Statements represent the underlying transactions and events in a manner that achieves fair
presentation.
Communication with those charged with governance
3.
I communicate with the Accounting Authority regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that I identify
during my audit.
4.
I also confirm to the Accounting Authority that I have complied with relevant ethical requirements regarding
independence, and communicate all relationships and other matters that may reasonably be thought to have a
bearing on my independence and, where applicable, related safeguards.