54
HORSE SPORT IRELAND
Financial Ov
erview
Extract from the 2012 audited financial statements
We have audited the financial statements of Horse Sport Ireland for the year ended 31st December 2012 which
comprise the Income and Expenditure Account, Balance Sheet, Cash Flow Statement and the related notes.
These financial statements have been prepared on the basis of the accounting policies set out therein.
RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITOR
As described in the Statement of Directors' Responsibilities on pages 2 - 4, the company's directors are
responsible for the preparation of the financial statements in accordance with applicable law and Generally
Accepted Accounting Practice in Ireland including the accounting standards issued by the Accounting Standards
Board and published by the Institute of Chartered Accountants in Ireland.
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory
requirements and International Standards on Auditing (UK and Ireland).
This report is made solely to the company's members, as a body, in accordance with Section 193 of the
Companies Act, 1990. 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.
We report to you our opinion as to whether the financial statements give a true and fair view, in accordance with
Generally Accepted Accounting Practice in Ireland, and are properly prepared in accordance with the Companies
Acts, 1963 to 2012. We also report to you whether in our opinion: proper books of account have been kept by
the company; whether, at the balance sheet date, there exists a financial situation requiring the convening of an
extraordinary general meeting of the company; and whether the information given in the directors' report is
consistent with the financial statements. In addition, we state whether we have obtained all the information and
explanations necessary for the purposes of our audit and whether the financial statements are in agreement with
the books of account.
We also report to you if, in our opinion, any information specified by law regarding directors' remuneration and
directors' transactions is not disclosed and, where practicable, include such information in our report.
We read the Directors' Report and consider the implications for our report if we become aware of any apparent
misstatement within it.
BASIS OF AUDIT OPINION
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the
Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts
and disclosures in the financial statements. It also includes an assessment of the significant estimates and
judgements made by the directors in the preparation of the financial statements, and of whether the accounting
policies are appropriate to the company's circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered
necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial
statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming
our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.
Annual Report 2012
A full set of the HSI Audited Financial Statements is fi led with the Companies Registration Offi
ce.
HSI_Report_NEW DOCUMENT.indd 54
20/09/2013 15:37:29