Independent Auditors’ Report
- International Monetary Fund
- Published Date:
- September 2016
To the Board of Governors
of the International Monetary fund
We have audited the accompanying statements of financial position of the Special Drawing Rights Department of the International Monetary-Fund (“the Departments as of April 30, 2014 and 2013, and the related statement of comprehensive income for the years then ended, and the related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with the international financial Reporting Standards as issued b> the International Accounting Standards Board; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements based on our audits We conducted our audits in accordance with auditing standards generally accepted in the United States of America and with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about 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 auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error hi making those risk assessments, the auditor considers internal control relevant to the Department*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 Department’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant 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.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Special Drawing Rights Department of the International Monetary Fund at April 30, 2014 and 2013, and the results of its operations for the years then ended in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board.
Report on Supplementary Information
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole The supplementary schedules listed on pages 39 to 44 are presented for me purpose of additional analysis and are not a required part of the financial statements. These schedules are the responsibility of the Department s management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements Such schedules have been subjected to the auditing procedures applied in our audits of the financial statements and certain additional procedures, deluding comparing and reconciling such schedules directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with International Standards on Auditing and auditing standards generally accepted in the United States of America, In our opinion, such schedules are fairly staled in all material respects in relation to the statements taken as a whole.
July 7, 2014