Page 69 - Annual Report

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INDEPENDENT AUDITOR’S REPORT TO THE COUNCIL OF www.crowe.hk HONG KONG ACADEMY OF MEDICINE www.crowe.hk
HONG KONG ACADEMY OF MEDICINE
香
港
科
學
院
醫
學
專
HONG KONG ACADEMY OF MEDICINE 香港醫學專科學院 院
學
專
醫
香
港
科
學
香港醫學專科學院
香 港 醫 學 專 科 學 院 (Established in Hong Kong)
香港醫學專科學院
(Established in Hong Kong)
(Established in Hong Kong)

(Continued)
(Continued)

Opinion Responsibilities of the council members for the consolidated financial statements
Responsibilities of the council members for the consolidated financial statements

We have audited the consolidated financial statements of Hong Kong Academy of Medicine (“the The council members are responsible for the preparation of the consolidated financial statements that give
The council members are responsible for the preparation of the consolidated financial statements that give
a true and fair view in accordance with HKFRSs issued by the HKICPA and section 14 of Hong Kong
Academy”) and its structured entity, The Hong Kong Academy of Medicine Foundation Fund (collectively a true and fair view in accordance with HKFRSs issued by the HKICPA and section 14 of Hong Kong
Academy of Medicine Ordinance, and for such internal control as the council members determine is
“the Group”) set out on pages 4 to 34, which comprise the consolidated statement of financial position as Academy of Medicine Ordinance, and for such internal control as the council members determine is
necessary to enable the preparation of consolidated financial statements that are free from material
at 31 December 2022, the consolidated statement of income and expenditure, the consolidated statement necessary to enable the preparation of consolidated financial statements that are free from material
misstatement, whether due to fraud or error.
of income and expenditure and other comprehensive income, the consolidated statement of changes in misstatement, whether due to fraud or error.
reserve and funds and the consolidated statement of cash flows for the year then ended, and notes to the
In preparing the consolidated financial statements, the council members are responsible for assessing the
consolidated financial statements, including a summary of significant accounting policies. In preparing the consolidated financial statements, the council members are responsible for assessing the
Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern
Group’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 council members either intend to liquidate the
In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial and using the going concern basis of accounting unless the council members either intend to liquidate the
Group or to cease operations, or have no realistic alternative but to do so.
position of the Group as at 31 December 2022, and of its consolidated financial performance and its Group or to cease operations, or have no realistic alternative but to do so.

consolidated cash flows for the year then ended in accordance with Hong Kong Financial Reporting
Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and Auditor’s responsibilities for the audit of the consolidated financial statements

have been properly prepared in compliance with the Hong Kong Academy of Medicine Ordinance. Auditor’s responsibilities for the audit of the consolidated financial statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as
that includes our opinion. This report is made solely to you, as a body, in accordance with section 14 of the
Basis for opinion a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
Hong Kong Academy of Medicine Ordinance, and for no other purpose. We do not assume responsibility
that includes our opinion. This report is made solely to you, as a body, in accordance with section 14 of the
We conducted our audit in accordance with Hong Kong Standards on Auditing (“HKSAs”) issued by the Hong Kong Academy of Medicine Ordinance, and for no other purpose. We do not assume responsibility
towards or accept liability to any other person for the contents of this report.

HKICPA. Our responsibilities under those standards are further described in the Auditor’s responsibilities towards or accept liability to any other person for the contents of this report.
for the audit of the consolidated financial statements section of our report. We are independent of the Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can
Group in accordance with the HKICPA’s Code of Ethics for Professional Accountants (the “Code”), and we Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
arise from fraud or error and are considered material if, individually or in the aggregate, they could
have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can
reasonably be expected to influence the economic decisions of users taken on the basis of these
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. arise from fraud or error and are considered material if, individually or in the aggregate, they could
consolidated financial statements.
reasonably be expected to influence the economic decisions of users taken on the basis of these

consolidated financial statements.
As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain
Information other than the consolidated financial statements and auditor’s report thereon professional scepticism throughout the audit. We also:
As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain

The council members are responsible for the other information. The other information comprises all the professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the consolidated financial statements,
⚫
information included in the annual report, other than the consolidated financial statements and our whether due to fraud or error, design and perform audit procedures responsive to those risks and
auditor’s report thereon. ⚫ Identify and assess the risks of material misstatement of the consolidated financial statements,
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
whether due to fraud or error, design and perform audit procedures responsive to those risks and
not detecting a material misstatement resulting from fraud is higher than for one resulting from error,
Our opinion on the consolidated financial statements does not cover the other information and we do not obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
express any form of assurance conclusion thereon. not detecting a material misstatement resulting from fraud is higher than for one resulting from error,
internal control.
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of

Obtain an understanding of internal control relevant to the audit in order to design audit procedures
In connection with our audit of the consolidated financial statements, our responsibility is to read the other ⚫ internal control.
information and, in doing so, consider whether the other information is materially inconsistent with the that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Group’s internal control.
consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be ⚫ Obtain an understanding of internal control relevant to the audit in order to design audit procedures
materially misstated. that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
⚫ effectiveness of the Group’s internal control.
If, based on the work we have performed, we conclude that there is a material misstatement of this other estimates and related disclosures made by the council members.
information, we are required to report that fact. We have nothing to report in this regard. ⚫ Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the council members.
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香港醫學專科學院 2023 年度報告 67