Page 102 - Annual Report 2016 EN

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INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF DIRECTORS OF
QATAR FINANCIAL CENTRE REGULATORY AUTHORITY

REPORT ON THE AUDIT OF THE

FINANCIAL STATEMENTS

Opinion

We have audited the financial statements of Qatar Financial Centre
Regulatory Authority (the “QFC Regulatory Authority”), which com-
prise the statement of financial position as at 31 December 2016,
and the statement of comprehensive income, statement of cash
flows and statement of changes in equity for the year then ended,
and notes to the financial statements, including a summary of sig-
nificant accounting policies.
In our opinion, the accompanying financial statements present
fairly, in all material respects, the financial position of the QFC
Regulatory Authority as at 31 December 2016 and its financial per-
formance and its cash flows for the year then ended in accordance
with International Financial Reporting Standards (IFRSs).

Basis for Opinion

We conducted our audit in accordance with International Stan-
dards on Auditing (ISAs). Our responsibilities under those standards
are further described in the Auditor’s responsibilities for the audit of
the financial statements section of our report. We are independent
of the QFC Regulatory Authority in accordance with the Interna-
tional Ethics Standards Board for Accountants’ Code of Ethics for
Professional Accountants (IESBA Code) together with the ethical
requirements that are relevant to our audit of the financial state-
ments in Qatar, and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the IESBA Code. We
believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.