31 To The Directors of The National Insurance Board of Trinidad and Tobago Our opinion In our opinion, the special purpose financial statements of The National Insurance Board of Trinidad and Tobago are prepared, in all material respects, in accordance with the accounting policies described in Note 4 to the special purpose financial statements and the requirements of the National Insurance Act. What we have audited The Board’s special purpose financial statements comprise: • statement of financial position • statement of comprehensive income • statement of cash flows • statement of changes in funds • notes to the special purpose financial statements. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the special purpose financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the National Insurance Board of Trinidad and Tobago in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code). We have fulfilled our other ethical responsibilities in accordance with the IESBA Code. Emphasis of Matter – Basis of accounting and restriction on distribution and use We draw attention to Note 4 of the special purpose financial statements, which describes the basis of accounting. The special purpose financial statements are prepared to assist the Finance Minister of The National Insurance Board of Trinidad and Tobago in meeting their reporting requirements under the National Insurance Act. As a result, the special purpose financial statements may not be suitable for another purpose. Our report is intended solely for the Finance Minister of The National Insurance Board of Trinidad and Tobago, and may be made available to the Inspector of Financial Institutions of the Central Bank of Trinidad and Tobago and should not be distributed to or used by parties other than those stipulated. Our opinion is not modified in respect to this matter.” Responsibilities of the Board for the special purpose financial statements The Board is responsible for the preparation of these special purpose financial statements in accordance with the accounting policies set out in Note 4 to the special purpose financial statements and the requirements of the National Insurance Act, and for such internal control as the Board determines is necessary to enable the preparation of special purpose financial statements that are free from material misstatement, whether due to fraud or error. In preparing the special purpose financial statements, the Board is responsible for assessing the entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board either intends to liquidate the Fund or to cease operations, or has no realistic alternative but to do so. INDEPENDENT AUDITOR’S REPORT ON SPECIAL PURPOSE FINANCIAL STATEMENTS