Statement of Directors’ responsibilities

“The Credit Unions (Northern Ireland) Order 1985 (as amended), requires the directors of the credit union to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the credit union and of the income and expenditure of the credit union for that period. In preparing those financial statements, the directors are required to:

Select suitable accounting policies and then apply them consistently

Make judgements and estimates that are reasonable and prudent

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the credit union will continue in business

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the credit union and which enables them to ensure that the financial statements comply with The Credit Unions (Northern Ireland) Order 1985, and any amendments thereto. They are also responsible for safeguarding the assets of the credit union and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.”

Sarah Harkness, Secretary


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