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42 City of Glasgow College Annual Report & Accounts 2019-20

Independent Auditor's Report

MARITIME

MARITIME

CITY OF GLASGOW COLLEGE

501969-

Independent auditor's report to the Board of

Management of City of Glasgow College, the Auditor

General for Scotland and the Scottish Parliament

Opinion on financial statements

We have audited the financial statements in the annual

report and accounts of City of Glasgow College for the

year ended 31 July 2020 under the Further and Higher

Education (Scotland) Act 1992 and section 44(1)(c) of

the Charities and Trustee Investment (Scotland) Act

2005. The financial statements comprise the Statement

of Comprehensive Income, Statement of Changes

in Reserves, Balance Sheet, and Statement of Cash

Flow and notes to the financial statements, including

a summary of significant accounting policies. The

financial reporting framework that has been applied in

their preparation is applicable law and United Kingdom

Accounting Standards, including Financial Reporting

Standard 102 The Financial Reporting Standard

applicable in the UK and Republic of Ireland (United

Kingdom Generally Accepted Accounting Practice). In

our opinion the accompanying financial statements:

• give a true and fair view in accordance with the

Further and Higher Education (Scotland) Act 1992 and

directions made thereunder by the Scottish Funding

Council of the state of the college's affairs as at 31

July 2020 and of its deficit for the year then ended;

• have been properly prepared in accordance with

United Kingdom Generally Accepted Accounting

Practice; and

• have been prepared in accordance with the

requirements of the Further and Higher Education

(Scotland) Act 1992 and directions made thereunder

by the Scottish Funding Council, the Charities

and Trustee Investment (Scotland) Act 2005, and

regulation 14 of The Charities Accounts (Scotland)

Regulations 2006 (as amended).

Basis of opinion

We conducted our audit in accordance with applicable

law and International Standards on Auditing (UK)

(ISAs (UK)), as required by the Code of Audit Practice

approved by the Auditor General for Scotland. Our

responsibilities under those standards are further

described in the auditor's responsibilities for the audit of

the financial statements section of our report. We were

appointed by the Auditor General on 31 May 2016. The

period of total uninterrupted appointment is nine years.

We are independent of the college in accordance with

the ethical requirements that are relevant to our audit of

the financial statements in the UK including the Financial

Reporting Council's Ethical Standard, and we have

fulfilled our other ethical responsibilities in accordance

with these requirements. Non-audit services prohibited

by the Ethical Standard were not provided to the college.

We believe that the audit evidence we have obtained

is sufficient and appropriate to provide a basis for our

opinion.

Conclusions relating to going concern basis of

accounting

We have nothing to report in respect of the following

matters in relation to which the ISAs (UK) require us to

report to you where:

• the use of the going concern basis of accounting

in the preparation of the financial statements is not

appropriate; or

• the college has not disclosed in the financial

statements any identified material uncertainties that

may cast significant doubt about its ability to continue

to adopt the going concern basis of accounting for a

period of at least twelve months from the date when

the financial statements are authorised for issue.

Risks of material misstatement

We report in a separate Annual Audit Report, available

from the Audit Scotland website, the most significant

assessed risks of material misstatement that we

identified and our conclusions thereon.

Responsibilities of the Board of Management for

the financial statements

As explained more fully in the Statement of the

Board of Management's Responsibilities, the Board

of Management is responsible for the preparation of

financial statements that give a true and fair view in

accordance with the financial reporting framework, and

for such internal control as the Board of Management

determines is necessary to enable the preparation

of financial statements that are free from material

misstatement, whether due to fraud or error.

In preparing the financial statements, the Board of

Management is responsible for assessing the college's

ability to continue as a going concern, disclosing, as

applicable, matters related to going concern and using

the going concern basis of accounting unless deemed

inappropriate.

Auditor's responsibilities for the audit of the

financial statements

Our objectives are to obtain reasonable assurance

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