Building Lifelong Relationships - NUSS

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nuss annual report 2006 PG Financial Statements The National University of Singapore Society for the year ended December 00 contents 65 auditors’ report 66 balance sheet 67 income and expenditure account 68 statement of changes in members’ funds 69 cash flow statement 70 notes to the financial statements
Auditors’ report to the members of The National University of Singapore Society PG 65 <strong>NUSS</strong> ANNUAl RepoRt 2006 We have audited the accompanying financial statements of The National University of Singapore Society, which comprise the balance sheet as at 31 December 2006, and the income and expenditure account, statement of changes in members’ funds and cash flow statement for the year then ended and a summary of significant accounting policies and other explanatory notes. Management Committee’s Responsibility for the Financial Statements The Management Committee is responsible for the preparation and fair presentation of these financial statements in accordance with the Singapore Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the financial statements 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Management Committee, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements are properly drawn up in accordance with the Singapore Financial Reporting Standards and so as to give a true and fair view of the state of affairs of the Society as at 31 December 2006 and the results, changes in members’ funds and cash flows of the Society for the financial year then ended on that date. Foo Kon Tan Grant Thornton Certified Public Accountants Singapore, 1 March 2007
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contents PG 0 nuss annual report 20
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PG 0 nuss annual report 2006 In acc
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Management Committee 8 9 0 Chandra
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Dinner with the NUS Chancellor and
Page 15 and 16: Forming friendships through SMP NUS
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Page 19 and 20: 8.4 DISCIPLINARY There were no pend
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Page 27 and 28: PG nuss annual report 2006 5.5 Mr T
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Page 31 and 32: Report of Management Committee 1. M
Page 33 and 34: n Approved the disposal of old swim
Page 35 and 36: Initial illustrations of the redeve
Page 37 and 38: Upon the receipt of NParks’ in-pr
Page 39 and 40: Friendship between NUSS and Peking
Page 41 and 42: Teaching in Cambodia Gaining a deep
Page 43 and 44: Summary of Events for the Year Cate
Page 45 and 46: Chairperson Tan Siang Chik Deputy C
Page 47 and 48: A new reciprocal arrangement with t
Page 49 and 50: Income ($000s) 15,716 Net Operating
Page 51 and 52: Host GT Lye explains the correct wa
Page 53 and 54: Event Management Booking of Events
Page 55 and 56: Promoting networking among members
Page 57 and 58: Chairperson Wong Peng Meng Deputy C
Page 59 and 60: Chairperson Siva S Retnam Deputy Ch
Page 61 and 62: The Interclub Balut Championship 20
Page 63 and 64: Table Tennis The Sub-Committee esta
Page 65: PG nuss annual report 2006 Growing
Page 69 and 70: Income and expenditure account PG 6
Page 71 and 72: Cash flow statement PG 69 The annex
Page 73 and 74: Notes to the financial statements 2
Page 77 and 78: 3 Property and equipment Furniture,
Page 81 and 82: Notes to the financial statements P
Page 87 and 88: NUSS Over the years PG 85 NUSS ANNU
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Building Lifelong Relationships - NUSS

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