Investor Presentaiton
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Charlottetown Airport | 2013 Annual Report
Financial
Statements
Charlottetown Airport Authority Inc.
December 31, 2013
March 3, 2014
Independent Auditor's Report
To the Board of Directors of
Charlottetown Airport Authority Inc.
We have audited the accompanying financial
statements of Charlottetown Airport Authority Inc.,
which comprise the statement of financial position
as at December 31, 2013, and the statements of
operations, changes in net assets and cash flows for
the year then ended, and a summary of significant
accounting policies and other explanatory information.
Management's Responsibility for the Financial
Statements
Management is responsible for the preparation and
fair presentation of these financial statements in
accordance with Canadian accounting standards for
not-for-profit organizations, 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.
An audit involves performing procedures to obtain audit
evidence about the amounts and disclosures in the
financial statements. The procedures selected depend
on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial
statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal
control relevant to the entity's preparation and fair
presentation of the financial statements in order to
design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the entity's
internal control. An audit also includes evaluating
the appropriateness of accounting policies used and
the reasonableness of accounting estimates made
by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained in
our audit is sufficient and appropriate to provide a
basis for our opinion.
Opinion
In our opinion, the financial statements present
fairly, in all material respects, the financial position of
Charlottetown Airport Authority Inc. as at December
31, 2013, and the results of its operations and its cash
flows for the year then ended in accordance with
Canadian accounting standards for not-for-profit
organizations.
Auditor's Responsibility
Our responsibility is to express an opinion on
these financial statements based on our audit. We
conducted our audits in accordance with Canadian
generally accepted auditing standards. Those
standards require that we comply with ethical
requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial
statements are free from material misstatement.
Areenault Best Cameron Ellis
Chartered AccountantsView entire presentation