To the Board of The Danish National Research Foundation
Opinion
We have audited the financial statements of The Danish National Research Foundation for the financial year 01.01.2023 - 31.12.2023, which comprise the income statement, balance sheet, statement of changes in equity, and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act subject to the adjustments caused by the special nature of the Foundation.
In our opinion, the financial statements give a true and fair view of the Foundation’s financial position on 31.12.2023 and of the results of its operations for the financial year 01.01.2023 - 31.12.2023 in accordance with the Danish Financial Statements Act subject to the adjustments caused by the special nature of the Foundation.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark, and the public auditing standards, as the audit is performed based on the provisions of the Act on the Danish National Research Foundation, see Consolidated Act No. 200 of 26 February 2019. Our responsibilities under those standards and requirements are further described in the “Auditor’s responsibilities for the audit of the financial statements” section of this auditor’s report.
The auditor general is independent of the Foundation in accordance with section 1(6) of the Danish Auditor General Act, and the approved auditor is independent of the Foundation in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have both fulfilled our other ethical responsibilities in accordance with these rules and requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Management’s responsibilities for the financial statements
Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act subject to the adjustments caused by the special nature of the Foundation, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, Management is responsible for assessing the Foundation’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Foundation or to cease operations or has no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, and the public auditing standards, as the audit is performed based on the provisions of the Act on the Danish National Research Foundation, see Consolidated Act No. 200 of 26 February 2019, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, and the public auditing standards, as the audit is performed based on the provisions of the Act on the Danish National Research Foundation, see Consolidated Act No. 200 of 26 February 2019, we exercise professional judgement and maintain professional skepticism throughout the audit.