DIRECTORS AND BOARDOVERSIGHT COMMITTEE RESPONSIBILITIES
Altura Credit Union Limited STATEMENT OF DIRECTORS’ AND BOARD OVERSIGHT COMMITTEE’S RESPONSIBILITIES for the year ended 30 September 2024 STATEMENT OF DIRECTORS' RESPONSIBILITIES The Credit Union Act 1997, as amended requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Credit Union and of the income and expenditure of the Credit Union for that year. In preparing these financial statements the directors are required to: ● select suitable accounting policies and then apply them consistently; ● make judgements and estimates that are reasonable and prudent; and 8 ● prepare the financial statements on the going concern basis unless it is inappropriate to presume that the credit union will continue in business. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Credit Union and to enable them to ensure that the financial statements are prepared in accordance with applicable Irish law and Generally Accepted Accounting Practice in Ireland, including the standards issued by the Financial Reporting Council, and in particular FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. They are responsible for safeguarding the assets of the Credit Union and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Directors and signed on its behalf by:
Member of the Board of Directors
Thomas Finn
Member of the Board of Directors
Leanne Brennan 7 th November 2024
Date:
Statement of Board Oversight Committee’s Responsibilities The Credit Union Act 1997, as amended requires the appointment of a Board Oversight Committee to assess whether the Board of Directors has operated in accordance with Part IV, Part IV (a) and any regulations made for the purposes of Part IV or Part IV (a) of the Credit Union Act 1997, as amended and any other matter prescribed by the Central Bank in respect of which they are to have regard in relation to the Board. On behalf of the Board Oversight Committee: Chairperson of the Board Oversight Committee: Date: Mary Quinn 7 th November 2024
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