2015 REPORT FINAL1

CHRIST IS THE ANSWER MINISTRIES (CITAM)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2015
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS
OF THE CHRIST IS THE ANSWER MINISTRIES (CITAM)
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2015
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE CHRIST IS THE ANSWER MINISTRIES (CITAM)
89
REPORT ON FINANCIAL STATEMENTS
We have audited the accompaning financial statements of Christ Is The Answer Ministries(CITAM) set out on pages 90 to 100,which comprise the
balance sheet as at 31st December 2015, the statement of surplus or deficit, statement of changes in funds and the statement of cash flows
for the year then ended, and a summary of significant accounting policies and other explanatory information.
DEACON BOARDS’ RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Deacon Board is responsible for the preparation and fair presentation of these financial statements in accordance with International
Financial Reporting Standards and the requirements of the Societies Act of Kenya. This responsibility includes designing, implementing and
maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error, selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the
circumstances.
AUDITOR’S RESPONSIBILITY
Our responsibility is to express an independent opinion on these financial statements based on our audit. We conducted our audit in accordance
with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance 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 depended on our professional judgement, including the assessment of the risks of material misstatement of the financial statements,
whether due to fraud or error. In making those risk assessments, we considered the internal controls relevant to the Ministry’s preparation and
fair presentation of the financial statements in order to design audit procedures that were appropriate in the circumstances, but not for the
purpose of expressing an opinion on the Ministry’s internal control. An audit also includes evaluating the appropriateness of accounting policies
used and the reasonableness of accounting estimates made by the Deacon Board , 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.
OPINION
In our opinion, the accompanying financial statements and cash flows give a true and fair view of the state of financial affairs of the Ministry as at
31st December 2015 and of its surplus and cash flows for the year then ended in accordance with the International Financial Reporting
Standards and the Requiremements of the Societies Act of Kenya.
REPORT ON OTHER LEGAL REQUIREMENTS
As required by the Societies Act of Kenya we report to you, based on our audit, that:
i) We have obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purposes of our audit;
ii) In our opinion, proper books of account have been kept by the Ministry, so far as appears from our
examination of those books; and
iii) The Ministry’s balance sheet and the statement of surplus or deficit are in agreement with the books of account.
The engagement partner responsible for the audit resulting in this independent auditor's report is CPA Stephen Mbugua Tumbo-
P/1603
East Africa
CERTIFIED PUBLIC ACCOUNTANTS
WESTLANDS BUSINESS PARK
CHIROMO LANE, WESTLANDS
P.O. BOX 46671 - 00100
NAIROBI
DATE:…………………………………
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CITAM Annual Report and Financial Statements | 2015