ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 1996
STATEMENT OF THE GENERAL COUNCIL'S RESPONSIBILITIES
Trade Union law requires the General Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the TUC and of the surplus or deficit of the TUC for that period. In preparing those financial statements, the General Council is required to
a) Select suitable accounting policies and then apply them consistently;
b) Make judgements and estimates that are reasonable and prudent;
c)Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the TUC will continue to operate.
The General Council is also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the TUC and to enable them to ensure that the financial statements comply with the Trade Union and Labour Relations (Consolidation) Act 1992. It must also establish and maintain a satisfactory system of control over its accounting records, its cash holdings and all its receipts and remittances.
It is also responsible for safeguarding the assets of the TUC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
REPORT OF THE AUDITORS TO THE MEMBERS OF THE
TRADES UNION CONGRESS
|We have audited the financial statements on pages 3 to 10 which have been prepared under the historical cost convention and the accounting policies as set out on page 5.|
|Respective Responsibilities of the General Council and Auditors|
|As described on page 1, the General Council is responsible for the preparation of the financial statements. It is our responsibility to form an independent opinion based on our audit on those statements and to report our opinion to you.|
|Basis of our Opinion|
|We conducted our audit in accordance with Auditing Standards 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 General Council in the preparation of the financial statements, and of whether the accounting policies are appropriate to the TUC'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.|
|In our opinion, the financial statements give a true and fair view of the state of the TUC's affairs as at 31 December 1996 and of its surplus for the year then ended and have been properly prepared in accordance with the Trade Union & Labour Relations (Consolidation) Act 1992.|
|23/28 Great Russell Street London WC1B 3NG||HARD DOWDY Chartered Accountants Registered Auditor|