In performing an audit of financial statements and an audit of internal control over financial reporting in accordance with GAAS, we: x Exercise professional judgment and maintain professional skepticism throughout the audits. x Iadnedn tpi ef yr faonr dma sa suedsist tphreorciesdk us roef smraetseproi anlsmi vies sttoa ttehmo seen tr oi sfktsh. eSfui nc ah npc ri aolcsetda ut er me se ni nt cs l, uwdhee et hx ea rmdi nu ei ntgo, for na uad toers et rbr aosr i, sa, nedv iddeesni gc ne regarding the amounts and disclosures in the financial statements. x Othbattaainreaanpupnrdoperrsiatatendinintgheofciirnctuemrnsatlancocnestr. ol relevant to the financial statement audit in order to design audit procedures x Or ebpt oa ri nt i na gn , ua ns sdeesrss tt ahne driins gk so tf hi na tt ear nmaal tceor ni at lr owl eoavkenrefsi sn ae nx ci si at sl , raenpdo rt et isnt ga rnedl eevvaanl ut at ot et ht he ea du edsi ti gonf ai nntde ronpael rcaot innt gr oel f of evcet ri vfei nn ae ns sc i oa fl internal control over financial reporting based on the assessed risk. x Eb yv aml uaantaegtehme eanptp, raospwr iealtleanseesvs aol fuaact ec ot uh ne toi nv ge rpaol ll ipc ri eess eunsteadt iaonndotfhteh er efai ns aonncaiballesntea st es mo fesnitgsn. i f i c a n t a c c o u n t i n g e s t i m a t e s m a d e x Ca bo onuc ltuFdi er swt Bh ea tnhceorr, pi n, Ionuc r. aj un dd gSmu eb ns itd, ti ah reirees ’a ar be icl iot ny dt iot icoonnst oi nr ueev ea ns tas ,gcooi nn gs i cdoe nr ec de rinn ftohre aa gr ge ar es go antaeb, lteh apte rr ai oi sde osfutbi ms t ea .n t i a l d o u b t Wo f et haer ea ur edqi tu, isr iegdn it foi ccaonmt ma uudni ti cfai nt ed wi n igt sh, tahnods ec ec rht aa ri ng ei dn twe ri tnha gl oc ov ne rt rnoaln- rceel ar et egda rmd iant gt e, ra smt oh na gt wo teh iedr emn tai tf ti ee dr s d, tuhrei npgl at nh ne ef di nsacnocpi ae l asnt ad t tei mm ei nngt audit. Definition and Inherent Limitations of Internal Control over Financial Reporting Ao tnh ei nr spt iet rustoi onnn’ es l i, ndteesring anle cdotnot rporloovvi de er rf ienaasnocni aa bl lree pa os sr ut irnagn icse ar epgraorcdeisnsgetfhf eecpt er de pbayr at ht i oo sne ocf hraerl gi aebdl ewf ii tnha ng oc ivael rsnt aa tnecme , emn tasniangaecmc oe nr dt ,aannc de wr eipt ho r at icncgo ui nnctliundge ps rt ihnocsi ep lpeos l igcei ense ar anldl yp ar oc cc ee pd tuerde si nt h taht e( 1U) npiet er tda iSnt at ot etsh eo fmAa mi n et er ni caan. c eAonf ri ne sc toi rt ud tsi ot hna’ st , ii nn treeransaol ncaobnl ter do el toavi le, ra cfci nu ar antcei layl aa rned rfeaci rol rydreedf l ae sc tntehcee ts rsaanr ys at cot ipoenrsmaint dp rdei ps pa or as ti ti oi onnos f of fi nt ha ne caisasl esttsa toef mt heen itns si tni tauctci oo nr d; (a2n)c ep rwo ivt ihd ae crceoaus no tni na bg l pe rai snscui pr al ensc ge etnheart atlrl ay nascaccetpi ot ends ianu tthhoer iUz na ti it oe nd s Sot fa tme sa noaf g Ae mmeenr itcaan, da nt hd otsheact hraercgeei dp tws iat hn dg oevxeprennadnict eu ;r ea sn do f( 3t )h ep rionvsitdi teu rt ieoans oanraeb bl ee ians gs umr aandcee or en gl ya ridni nagc cporredvaennct ei o wn , i ot hr teifmfeecltyodnettheectfiionnanacnidalcsotrarteecmtieonntso.f unauthorized acquisition, use, or disposition of the institution’s assets that could have a material BA el scoa, upsreo oj ef ci tt iso innsh oe fr eannty l iams si teastsi mo nesn, ti notfeer fnf ae lc tciov ne tnreosl sotvoe frufti un raen cpiearl i roedpsoar rt ien sgumb jaeyc tn toot tphree vr ei snkt , t oh ra td ceot enct tr oa lns dmc aoyr rbeec ct ,ommies si tnaatde emqeunattse. because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Beckley, West Virginia February 24, 2026
2025 Annual Report | 17
Made with FlippingBook - PDF hosting