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