COIF Charity Funds - CCLA
COIF Charity Funds - CCLA
COIF Charity Funds - CCLA
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<strong>COIF</strong> Charities Deposit Fund<br />
Report of the Independent Auditors<br />
to the Trustees of <strong>COIF</strong> Charities Deposit Fund<br />
We have audited the accounts of <strong>COIF</strong> Charities Deposit<br />
Fund for the year ended 31 December 2006 which<br />
comprise the statement of total return, the balance sheet,<br />
the interest paid table and the related notes. These<br />
accounts have been prepared under the accounting<br />
policies set out therein.<br />
Respective responsibilities of the Trustees, Manager and<br />
Auditors<br />
The Manager's responsibilities for preparing the annual<br />
report and accounts in accordance with applicable law<br />
and United Kingdom Accounting Standards (United<br />
Kingdom Generally Accepted Accounting Practice) are set<br />
out in the statement of Manager's responsibilities.<br />
Our responsibility is to audit the accounts in accordance<br />
with relevant legal and regulatory requirements and<br />
International Standards on Auditing (UK and Ireland). This<br />
report, including the opinion has been prepared for and<br />
only for the depositors of the Fund as a body in<br />
accordance with the Scheme of the <strong>Charity</strong><br />
Commissioners under the Charities Act 1993, and for no<br />
other purpose. We do not, in giving this opinion, accept<br />
or assume responsibility for any other purpose or to any<br />
other person to whom this report is shown or into whose<br />
hands it may come save where expressly agreed by our<br />
prior consent in writing.<br />
We report to you our opinion as to whether the accounts<br />
give a true and fair view and are properly prepared in<br />
accordance with the Charities (Accounts and Reports)<br />
Regulations 1995 and the Scheme of the <strong>Charity</strong><br />
Commissioners under the Charities Act 1993. We also<br />
report to you if, in our opinion, the Report of the<br />
Investment Manager is not consistent with the accounts, if<br />
the Manager has not kept proper accounting records for<br />
the Fund, if the accounts are not in agreement with those<br />
accounting records or if we have not received all the<br />
information and explanations we require for our audit.<br />
We read the other information contained in the annual<br />
report and consider whether it is consistent with the<br />
audited accounts. This other information comprises only<br />
the Report of the Investment Manager and the other items<br />
set out on the contents page. We consider the<br />
implications for our report if we become aware of any<br />
apparent misstatements or material inconsistencies with<br />
the accounts. Our responsibilities do not extend to any<br />
other information.<br />
Basis of audit opinion<br />
We conducted our audit in accordance with International<br />
Standards on Auditing (UK and Ireland) issued by the<br />
Auditing Practices Board. An audit includes examination,<br />
on a test basis, of evidence relevant to the amounts and<br />
disclosures in the accounts. It also includes an assessment<br />
of the significant estimates and judgements made by the<br />
Manager in the preparation of the accounts, and of<br />
whether the accounting policies are appropriate to the<br />
Fund’s circumstances, consistently applied and<br />
adequately disclosed.<br />
We planned and performed our audit so as to obtain all<br />
the information and explanations which we considered<br />
necessary in order to provide us with sufficient evidence<br />
to give reasonable assurance that the accounts are free<br />
from material misstatement, whether caused by fraud or<br />
other irregularity or error. In forming our opinion we also<br />
evaluated the overall adequacy of the presentation of<br />
information in the accounts.<br />
Opinion<br />
In our opinion the accounts:<br />
• give a true and fair view, in accordance with United<br />
Kingdom Accounting Standards of the financial position<br />
of the Fund at 31 December 2006 and of the net income<br />
of the property of the Fund for the year then ended; and<br />
• have been properly prepared in accordance with UK<br />
generally accepted accounting principles, Regulation 4 of<br />
the Charities (Accounts and Reports) Regulations 1995<br />
and the Scheme of the <strong>Charity</strong> Commissioners under the<br />
Charities Act 1993, dated 27 June 1995.<br />
PricewaterhouseCoopers LLP<br />
Chartered Accountants and Registered Auditors<br />
London<br />
28 February 2007<br />
Footnotes to the Report of the Independent Auditors<br />
The accounts are published on the www.ccla.co.uk website, which is a<br />
website maintained by <strong>CCLA</strong>. The maintenance and integrity of the<br />
website maintained by <strong>CCLA</strong> is, so far as it relates to the Fund, the<br />
responsibility of <strong>CCLA</strong>. The work we carry out as auditors does not<br />
involve consideration of the maintenance and integrity of this website<br />
and accordingly we accept no responsibility for any changes that may<br />
occur to the accounts following their presentation on the website.<br />
Visitors to the website need to be aware that legislation in the United<br />
Kingdom governing the preparation and dissemination of the accounts<br />
may differ from legislation in their jurisdiction.<br />
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