- May 5, 2022
- General
To the Shareholders of RF Bank & Trust (Bahamas) Limited
Report on the audit of the consolidated financial information
Our opinion
In our opinion, the consolidated financial information of RF Bank & Trust (Bahamas) Limited (the Bank) and its subsidiaries (together ‘the Group’) as at 31 December 2021, is prepared, in all material respects, in accordance with the basis of preparation as set out in Note 1 to the consolidated financial information.
What we have audited
The Group’s consolidated financial information comprises:
•the consolidated statement of financial position of the Group as at 31 December 2021;
•the consolidated statement of comprehensive income for the year then ended;
•the consolidated statement of changes in equity for the year then ended; and
•the consolidated statement of cash flows for the year then ended.
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 Auditors’ responsibilities for the audit of the consolidated financial information 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 Group in accordance with International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA Code). We have fulfilled our other ethical responsibilities in accordance with the IESBA Code.
Emphasis of Matter - Basis of preparation
We draw attention to Note 1 to the consolidated financial information, which describes the basis of preparation. The consolidated financial information is prepared to comply with the requirements of the Group’s regulator. As a result, the consolidated financial information may not be suitable for another purpose.
The consolidated financial information does not comprise a full set of consolidated financial statements prepared in accordance with International Financial Reporting Standards. Our opinion is not modified in respect of this matter.
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