One of Ireland’s highest profile cancer charities, the Marie Keating Foundation, saw its income drop 30% last year. Income declined from €1.96 million in 2007 to €1.37 million in 2008.
The fall in income, however, may be more a product of the Foundation’s good performance in 2007 than a downward trend, as income in 2005 and 2006 was around €1.3 million.
The results for 2008 were also qualified by the charity’s auditors, PricewaterhouseCoopers (PwC), who said the audit was limited in scope as a result of difficulties establishing income from fundraising events, according to reports in the Sunday Tribune.
A qualified opinion is issued by an independent auditor when the scope of the audit has been restricted in some manner or the financial records have departed from generally accepted accounting principles (GAAP).
PwC said “we have been unable to satisfy ourselves that all transactions were completely and correctly recorded.”
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