No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including
fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the
nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently
more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that
material misstatements may not be detected, even though the audit has been planned and performed in accordance with
ISAs (UK).
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