SUMMARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017
In our opinion, the accompanying summary fi nancial statements of Mercantile Credit Bank Limited (‘the Bank') are consistent in all material respects, with the audited financial statements, in accordance with the Financial Institutions (External Auditors) Regulations, 2010 and the Financial Institutions Act.
Summary Financial Statements
The Bank's summary fi nancial statements derived from the audited fi nancial statements for the year ended 31 December 2017 comprise:
• the summary statement of fi nancial position as at 31 December 2017;
• the summary statement of comprehensive income for the year then ended; and
• other disclosures.
The summary financial statements do not contain all the disclosures required by International Financial Reporting Standards, the Financial Institutions Act and the Uganda Companies Act, 2012. Reading the summary fi nancial statements and the auditor's report thereon, therefore, is not a substitute for reading the audited fi nancial statements and the auditor's report thereon.
The Audited Financial Statements and Our Report Thereon
We expressed an unmodifi ed audit opinion on the audited fi nancial statements in our report dated 24 April 2018. That report also includes the communication of other key audit matters. Key audit matters are those matters that, in our professional judgement, were of most signifi cance in our audit of the fi nancial statements for the current period.
Management Responsibility for the Summary Financial Statements
Management is responsible for the preparation of the summary financial statements in accordance with Financial Institutions (External Auditor) Regulations 2010 and the Financial Institutions Act.
Our responsibility is to express an opinion on whether the summary fi nancial statements are consistent, in all material respects, with the audited fi nancial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810 (Revised), ‘Engagements to Report on Summary Financial Statements'. CLICK HERE FOR MORE ON THIS NOTICE