香港視網膜病變協會

REPORT ON INCOME AND EXPENDITURE ACCOUNT OF FLAG DAY

發布時間:2016/12/31

REPORT ON INCOME AND EXPENDITURE ACCOUNT OF FLAG DAY

RETINA HONG KONG

(Incorporated in Hong Kong with liabilities limited by guarantee)

For the Flag Day held on 20 August 2016

LEE SIK WAI &Co.

Certified Public Accountants

李式帷會計師事務所

 

RETINA HONG KONG

CONTENTS

 

INDEPENDENT PRACTITIONER'S ASSURANCE REPORT

INCOME AND EXPENDITURE ACCOUNT OF FLAG DAY HELD ON 20 AUGUST 2016

NOTES TO THE ACCOUNTS

 

INDEPENDENT PRACTITIONER’S ASSURANCE REPORT

TO THE COUNCIL OF MANAGEMENT OF RETINA HONG KONG ("the Permittee")

Public Subscription Permit No: FD/R082/2016

 

Pursuant to the conditions stated in the Public Subscription Permit issued by the Social Welfare Department of the Government of the Hong Kong Special Administrative Region ("SWD"), we have been requested to report on the attached income and expenditure account of the Permittee's regional flag day fund-raising activity in Hong Kong Island held on 20 August 2016 ("the Event").

 

Responsibilities of the Council of Management

 

The Council of Management is responsible for preparing the attached income and expenditure account in accordance with the basis of preparation set out in note 1, setting out the gross subscriptions raised from the Event and the expenses incurred in connection with the Event, in order to comply with the conditions stated in the Public Subscription Permit issued by the SWD. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and presentation of the income and expenditure account so that it reflects the subscriptions raised and expenses incurred in connection with the Event and is free from material misstatement.

 

Our Independence and Quality Control

We have compiled with the independence and other ethical requirements of the Code of Ethics for Professional Accountants issued by the Hong Kong Institute of Certified Public Accountants (‘’HKICPA’’), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behavior.

 

The firm applies Hong Kong Standard on Quality Control 1 and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

 

Practitioner’s Responsibilities

 

Our responsibility is to form a conclusion on the attached income and expenditure account, based on our engagement, and to report our conclusion to you. Our report is made solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

 

We conducted our engagement in accordance with Hong Kong Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information and with reference to Practice Note 850, Reporting on Flag days and General Charitable Fund-raising Activities Covered by Public Subscription Permits issued by the Social Welfare Department issued by the HKICPA. We have planned and performed our work to obtain limited assurance for giving our conclusion below.

 

The work undertaken in connection with this engagement is less in scope than an audit conducted in accordance with Hong Kong Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

 

Our engagement included carrying out limited procedures for obtaining sufficient appropriate evidence to be able to draw a conclusion, such as inquiries primarily of persons responsible for financial and accounting matters, analytical procedures applied to financial data and other procedures we considered necessary. The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

 

Inherent Limitations

 

Due to the nature of cash receipts and expenses relating to the Event, it was not practicable for us to determine whether the income and expenditure account and the books and records of the Permittee include all transactions relating to the Event. It was impracticable for us to quantify the potential impact of this on the income and expenditure account. Accordingly, our report relates solely to the income and expenditure account prepared from transactions that have been recorded in the Permittee's books and records.

 

Conclusion

 

Based on the foregoing, we report that nothing has come to our attention that causes us to believe that the attached income and expenditure account does not reflect, in all material respects, the gross subscriptions raised and the expenses incurred by the Permittee in respect of the Event that have been recorded in its books and records made available to us in accordance with the basis of preparation set out in note 2.

 

Intended Users and Purpose

 

This report is intended solely for the purpose of assisting the Permittee to satisfy the conditions stated in the Public Subscription Permit issued by SWD in connection with the Event and is not intended to be, and should not be, used for any other purpose. We agree that a copy of this report may be provided to the Director of Social Welfare without further comment from us.

 


Retina Hong Kong

Statement of Flag Day account for the Flag Day held on 20 August 2016

 

HK$                 HK$

 

INCOME

Golden Flag donation proceeds received                                                  74,165

Donation bags received                                                                        143,609

                                                                                                      __217,774

 

EXPENDITURE

Flag day report fee                                                         3,000

Cleaning and sewing                                                         302

Insurance                                                                     2,670

Stationery and printing                                                     480

Transportation and delivery                                            1,045

Volunteers allowances                                                   1,250

Sundry expenses                                                            790

                                                                                                    ____9,537

 

SURPLUS                                                                                           208,237

 

The annexed notes form an integral part of this account.

Certified true and correct, approved and authorized for issue by the Council of Management.

 


RETINA HONG KONG

NOTES TO THE ACCOUNTS FOR THE FLAG DAY RAISING EVENT

HELD ON 20 AUGUST 2016

 

1. PURPOSE OF FLAG DAY

The purpose of the flag day fund-raising are for:

a.      Charity’s recurrent expenses;

b.      Services for members and development;

c.       Community rehabilitation networking;

d.      Rehabilitation and aftercare services;

e.      Public education; and

f.         Policy concern group and service.

 

2. PRINCIPAL ACCOUNTING POLICY

a. Income recognition

Donations are recognized on a cash receipt basis.

 

3. GENERAL

In common with many organizations of similar size, the Charity’s system of internal control is dependent upon the close involvements of the Council of Management, who has made efforts to ensure that no material discrepancies exist.