b'Independent Auditors Report to the Members ofMisstatements can arise from fraud or error and are considered Newsboys Foundationmaterial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on Report on the audit of the summarised financial report the basis of this summarised financial report.As part of an audit in accordance with the Australian Auditing Opinion Standards, we exercise professional judgement and maintain We have audited the summarised financial report of Newsboysprofessional scepticism throughout the audit.We also:Foundation (the Company), which comprises the statementIdentify and assess the risks of material misstatement of the of financial position as at 30 June 2020, and the statement offinancial report, whether due to fraud or error, design and comprehensive income. perform audit procedures responsive to those risks, and obtain The summarised financial report does not contain all theaudit evidence that is sufficient and appropriate to provide disclosures required by the Australian Accounting Standardsa basis for our opinion.The risk of not detecting a material - Reduced Disclosure Requirements (as adopted by Newsboysmisstatement resulting from fraud is higher than for one Foundation) and accordingly, reading the summarised financialresulting from error, as fraud may involve collusion, forgery, report is not a substitute for reading the audited financial report. intentional omissions, misrepresentations, or the override of internal control.In our opinion, the summarised financial report of NewsboysObtain an understanding of internal control relevant to the audit Foundation for the year ended 30 June 2020 is consistent, in allin order to design audit procedures that are appropriate in the material respects, with the financial report from which it wascircumstances, but not for the purpose of expressing an opinion derived. on the effectiveness of the Companys internal control.Basis for opinion Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related We conducted our audit in accordance with Australian Auditingdisclosures made by the Board of Directors.Standards.Our responsibilities under those standards are furtherConclude on the appropriateness of the Board of Directors described in the Auditors Responsibilities for the Audit of the Financialuse of the going concern basis of accounting and, based on the Report section of our report.We are independent of the Companyaudit evidence obtained, whether a material uncertainty exists in accordance with the ethical requirements of the Accountingrelated to events or conditions that may cast significant doubt Professional and Ethical Standards Boards APES 110 Code of Ethicson the Companys ability to continue as a going concern.If we for Professional Accountants (the Code) that are relevant to our auditconclude that a material uncertainty exists, we are required to of the financial report in Australia. We have also fulfilled our otherdraw attention in our auditors report to the related disclosures ethical responsibilities in accordance with the Code. in the financial report or, if such disclosures are inadequate, We believe that the audit evidence we have obtained is sufficientto modify our opinion.Our conclusions are based on the and appropriate to provide a basis for our opinion. audit evidence obtained up to the date of our auditors report.However, future events or conditions may cause the Company Responsibilities of the Board of Directors for theto cease to continue as a going concern.summarised financial report Evaluate the overall presentation, structure and content of the The Board of Directors of the Company is responsible for thefinancial report, including the disclosures, and whether the preparation and fair presentation of the summarised financialfinancial report represents the underlying transactions and report in accordance the full financial statements for theevents in a manner that achieves fair presentation.year ended 30 June 2020, and for such internal control as theWe communicate with those charged with governance regarding, Directors determine is necessary to enable the preparationamong other matters, the planned scope and timing of the audit of the summarised financial report that is free from materialand significant audit findings, including any significant deficiencies misstatement, whether due to fraud or error. in internal control that we identify during our audit.In preparing the summarised financial report, the Board ofThese responsibilities were fulfilled as part of the audit of the Directors is responsible for assessing the Companys ability tofinancial report from where the above summarised financial report continue as a going concern, disclosing, as applicable, matterswas derived.related to going concern and using the going concern basis ofOur audit report on the financial report for the year ended 30 June accounting unless the Board of Directors either intend to liquidate2020 was signed on 3 December 2020 and was not subject to any the Company or to cease operations, or have no realistic alternativemodification.but to do so. The Board of Directors is responsible for overseeing the Companys summarised financial reporting process.Auditors responsibilities for the audit of theGrant Thornton Audit Pty Ltd summarised financial report Chartered AccountantsOur objectives are to obtain reasonable assurance about whether the summarised financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion.Reasonable assurance is a high level of assurance, but is not a guarantee that an auditS C Trivett conducted in accordance with the Australian Auditing StandardsPartnerAudit & Assurancewill always detect a material misstatement when it exists. Melbourne, 3 December 2020NEWSBOYS FOUNDATION ANNUAL REPORT 202025'