INDEPENDENT PRACTITIONER’S REVIEW REPORT ON THE FINANCIAL STATEMENTS OF THE EUROPEAN FEDERATION OF ALLERGY AND AIRWAYS DISEASES PATIENTS´ASSOCIATIONS (EFA) FOR THE YEAR ENDED 31 DECEMBER 2016
Report on the Financial Statements
We have reviewed the financial statements of EFA, which comprise the balance sheet as at December 31, 2016, the income statement for the year then ended, and a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these statements in accordance with the financial-reporting framework applicable in Belgium, and for such internal control as management determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.
Practitioner’s Responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared in all material respects in accordance with the applicable financial reporting framework. This Standard also requires us to comply with relevant ethical requirements.
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. The practitioner performs procedures, primarily consisting of making inquiries of management and others within the entity, as appropriate, and applying analytical procedures, and evaluates the evidence obtained.
The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing. Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that these financial statements do not present fairly, in all material respects, the financial position of the European Federation of Allergy and Airways Diseases Patients’ Associations as at December 31, 2016, and the results of its operations for the year then ended, in accordance with the financial-reporting framework applicable in Belgium.
Report on Other Legal and Regulatory Requirements
The board of Directors is responsible for the compliance with the law of 27 June 1921 on non-profit organisations, international non-profit organisations and foundations, with the by-laws and with the legal and regulatory requirements regarding bookkeeping<
In the context of our mandate and in accordance with the Belgian standard which is complementary to the International Standard on Review Engagements (ISRE) 2400 as applicable in Belgium, our responsibility is to verify, in all material respects, compliance with certain legal and regulatory requirements. On this basis, we make the following additional statements, which do not modify the scope of our conclusion on the financial statements:
- Without prejudice to certain formal aspects of minor importance, the accounting records are maintained in accordance with the legal and regulatory requirements applicable in Belgium.
- EFA is registered as Not-for-Profit Organisation in Sweden. EFA is still currently working on its full registration in Belgium and ensuring compliance with the law and regulations. Based on our assessment there are no effects on the financial statements as stated above. There are no other transactions undertaken or decisions taken in breach of the by-laws or of the Law of 27 June 1921 on non-profit organisations, international non-profit organisations and foundations that we have to report to you.
Londerzeel, April 04, 2017
Jean Bernard Pieuli-Takou
Registered auditor