Report of the Independent Auditor on the Summary Financial StatementsTo the Board of Directors of B.C. Family Hearing Resource Society
The summary financial statements, which comprise the summary statement of financial position as at August 31, 2019, the summary statement of operations and changes in net assets and summary statement of cash flows for the year then ended, and related notes, are derived from the audited financial statements of B. C. Family Hearing Resource Society for the year ended August 31, 2020. We expressed a qualified audited opinion on those financial statements in our report dated October 17, 2020.
In our opinion, except for the effect of any adjustments that we might have determined to be necessary had we been able to satisfy ourselves concerning the completeness of the donations referred to in the preceding paragraph, the summary financial statements derived from the audited financial statements of BC Family Hearing Resource Society for the year ended August 31, 2020 are a fair summary of those financial statements in accordance with Canadian accounting standards for not-for-profit organizations.
The summary financial statements do not contain all the disclosures required by Canadian accounting standards for not-for-profit organizations. Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of BC Family Hearing Resource Society.
Basis for Qualified Opinion
In common with many not-for-profit organizations, the Society derives revenue from fundraising activities the completeness of which is not susceptible to satisfactory audit verification. Accordingly, verification of these revenues was limited to the amounts recorded in the records of the Society. Therefore, we were not able to determine whether any adjustments might be necessary to fundraising revenue, excess of revenues over expenses, and cash flows from operations for the years ended August 31, 2020 and 2019, current assets as at August 31, 2020 and 2019, and net assets as at September 1 and August 31 for both the 2020 and 2019 years. Our audit opinion on the financial statements for the year ended August 31, 2020 was modified accordingly because of the possible effects of this limitation in scope.
We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Society in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.
Management’s Responsibility for the Summary Financial Statements
Management is responsible for the preparation of the summary financial statements in accordance with Canadian accounting standards for not-for-profit organizations.
Our responsibility is to express an opinion on whether the summary financial statements are a fair summary of the audited financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810, Engagements to Report on Summary Financial Statements.
Chartered Professional Accountants
Langley, British Columbia
October 20, 2020