preparation and fair presentation of financial statements that are free from

Preparation and fair presentation of financial

This preview shows page 5 - 11 out of 67 pages.

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.
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WO/PBC/22/3 page 3 Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the 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 depend on the auditor’s 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 auditor considers 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 management, 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, these financial statements present fairly, in all material respects, the financial position of the World Intellectual Property Organisation as at 31 st December 2013, and its financial performance and of its cash flows for the period 1 st January 2013 to 31 st December 2013. Report on Other Legal and Regulatory Requirements Further, in our opinion, the transactions of the World Intellectual Property Organisation that have come to our notice or which we have tested as part of
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WO/PBC/22/3 page 4 our audit have, in all significant respects, been in accordance with the WIPO Financial Regulations and Rules. In accordance with the Regulation 8.10 of the Financial Regulations and Rules, we have also issued a long-form Report on our audit of the World Intellectual Property Organisation. Shashi Kant Sharma Comptroller and Auditor General of India External Auditor New Delhi, India August 2014
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WO/PBC/22/3 page 5 REPORT OF THE EXTERNAL AUDITOR TO THE 54 TH SERIES OF MEETING OF THE GENERAL ASSEMBLY OF WORLD INTELLECTUAL PROPERTY ORGANIZATION FOR THE FINANCIAL YEAR 2013 Office of the Comptroller and Auditor General of India
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WO/PBC/22/3 page 6 WIPO-Report of the External Auditor Financial Year 2013 C&AG of India Page 1 EXECUTIVE SUMMARY This report presents the significant findings of the Comptroller and Auditor General of
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  • Summer '17
  • External auditor, Auditor's report, World intellectual Property organization

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