2015 REPORT FINAL1

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88 CHRIST IS THE ANSWER MINISTRIES (CITAM) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2015 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2015 STATEMENT OF DEACON BOARDS’ RESPONSIBILITIES STATEMENT OF DEACON BOARDS' RESPONSIBILITIES The Societies Act of Kenya requires the Deacon Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Ministry at the end of the financial year and of its operating results for that year. The Deacon Board is also required to ensure that the Ministry maintains proper accounting records that disclose, with reasonable accuracy, the financial position of the Ministry. The Deacon Board is also responsible for safeguarding the assets of the Ministry. The Deacon Board accepts responsibility for the preparation and fair presentation of financial statements that are free from material mistatements whether due to fraud or error.They also accept responsibility for: i) Designing ,implementing and maintaining internal control relevant to the preparation and fair presentation of the financial statements; ii) Selecting and applying appropriate accounting policies; and iii) Making accounting estimates and judgements that are reasonable in the circumstances. The Deacon Board are of the opinion that the financial statements give a true and fair view of the state of the financial affairs of the Ministry as at 31st December 2015 and of its surplus and cash flows for the year then ended in accordance with the International Financial Reporting Standards (IFRSs) and the requirements of the Societies Act of Kenya. Nothing has come to the attention of the Deacon Board to indicate that the Ministry will not remain a going concern for at least the next twelve months from the date of this statement. Approved by the Deacon Board on …………………………………………..2016 and signed on its behalf by: ……………....................………. CHAIRMAN ……………....................………. TREASURER 4 CITAM Annual Report and Financial Statements | 2015
CHRIST IS THE ANSWER MINISTRIES (CITAM) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2015 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE CHRIST IS THE ANSWER MINISTRIES (CITAM) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2015 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE CHRIST IS THE ANSWER MINISTRIES (CITAM) 89 REPORT ON FINANCIAL STATEMENTS We have audited the accompaning financial statements of Christ Is The Answer Ministries(CITAM) set out on pages 90 to 100,which comprise the balance sheet as at 31st December 2015, the statement of surplus or deficit, statement of changes in funds and the statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. DEACON BOARDS’ RESPONSIBILITY FOR THE FINANCIAL STATEMENTS The Deacon Board is responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards and the requirements of the Societies Act of Kenya. This responsibility includes designing, implementing and maintaining internal controls 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. AUDITOR’S RESPONSIBILITY Our responsibility is to express an independent opinion on these financial statements based on our audit. We conducted our audit in accordance with International 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 depended on our professional judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we considered the internal controls relevant to the Ministry’s preparation and fair presentation of the financial statements in order to design audit procedures that were appropriate in the circumstances, but not for the purpose of expressing an opinion on the Ministry’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Deacon Board , 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 accompanying financial statements and cash flows give a true and fair view of the state of financial affairs of the Ministry as at 31st December 2015 and of its surplus and cash flows for the year then ended in accordance with the International Financial Reporting Standards and the Requiremements of the Societies Act of Kenya. REPORT ON OTHER LEGAL REQUIREMENTS As required by the Societies Act of Kenya we report to you, based on our audit, that: i) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit; ii) In our opinion, proper books of account have been kept by the Ministry, so far as appears from our examination of those books; and iii) The Ministry’s balance sheet and the statement of surplus or deficit are in agreement with the books of account. The engagement partner responsible for the audit resulting in this independent auditor's report is CPA Stephen Mbugua Tumbo- P/1603 East Africa CERTIFIED PUBLIC ACCOUNTANTS WESTLANDS BUSINESS PARK CHIROMO LANE, WESTLANDS P.O. BOX 46671 - 00100 NAIROBI DATE:………………………………… 5 CITAM Annual Report and Financial Statements | 2015
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4 CITAM Annual Report and Financial
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2015 REPORT FINAL1

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