Objectives and scope of the audit

The objective is to MVi's Annual Audit of the financial report for the period 1 January 2025 to 31 December 2025 to enable the auditor to express an independent opinion on:

• Fair Presentation of Financial Statements: Whether the annual financial statements are presented fairly, in all material respects, the organization’s financial position, performance, and cash flows are in accordance with the applicable accounting and reporting framework.
• Use of Funds: Whether the proceeds of MVi funds were used solely for their intended purposes.

The reporting

The reporting shall be signed by the responsible auditor (not just the audit firm) and shall include the title of the responsible auditor.

The reporting from the auditor shall include an independent auditor’s report in accordance with the format in standard ISA 800/805 and the auditor’s opinion shall be clearly stated. The independent auditor’s report shall clearly stipulate that the audit has been conducted in accordance with ISA 800/805. The reporting shall also include a Management letter that discloses all audit findings (significant and other findings), as well as weaknesses identified during the audit process. The financial report that has been subject of the audit shall be attached to the audit reporting. The auditor shall make recommendations to address the identified findings and weaknesses. The recommendations shall be presented in priority order.

If the auditor assesses that no findings or weaknesses have been identified during the audit that would result in a Management Letter, an explanation of this assessment must be disclosed in the audit reporting.

Measures taken by the organization to address weaknesses identified in previous audits shall also be presented in the Management Letter. The auditor shall report if previous year’s recommendations have been implemented, partially implemented or not implemented.