Annual Report & Accounts 2017/18

154 NI Water Annual Report and Accounts 2017/18 Statutory Accounts Independent Auditors’ Report to the Members of Northern Ireland Water Limited continued Based solely on the work undertaken in the course of the audit, we report that • we have not identified material misstatements in the directors report or the strategic report; • in our opinion, the information given in the directors’ report and the strategic report is consistent with the financial statements; • in our opinion, the directors’ report and the strategic report have been prepared in accordance with the Companies Act 2006. 6 Matters on which we are required to report by exception Under the Companies Act 2006 we are required to report to you if, in our opinion: • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or • the parent Company financial statements are not in agreement with the accounting records and returns; or • certain disclosures of directors’ remuneration specified by law are not made; or • we have not received all the information and explanations we require for our audit. We have nothing to report in regard to these matters. Respective responsibilities and restrictions on use 1 Responsibilities of directors for the financial statements As explained more fully in the directors’ responsibilities statement set on page 87, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Group and the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. 2 Auditor’s responsibilities for the audit of the financial statements Our objective are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/auditorsresponsibilities. 3 The purpose of our audit work and to whom we owe our responsibilities Our report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members, as a body, for our audit work, for this report, or for the opinions we have formed. John Poole Senior Statutory Auditor for and on behalf of KPMG Statutory Auditor The Soloist Building 1 Lanyon Place Belfast, BT1 3LP 24 July 2018 154 Strategic Report NI Water Annual Report and Accounts 2017/18