SUMMARY
FINANCIAL STATEMENTS
REPORT OF THE INDEPENDENT AUDITOR ON THE SUMMARY FINANCIAL STATEMENTS
The accompanying summary financial statements, which comprise the summary statement of financial
position as at September 30, 2017, and the summary statement of operations for the year then ended,
are derived from the audited financial statements of the College of Veterinarians of Ontario as at
September 30, 2017 and for the year then ended on which we expressed an unmodified opinion in our
report dated December 5, 2017.
Criteria Applied in the Preparation of the
Summary Financial Statements
The criteria applied by management in the preparation of these summary financial statements are as
follows:
• The information in the summarized financial statements is in agreement with the related information
Those financial statements, and the summary financial statements, do not reflect the effects of events
that occurred subsequent to the date of our report on those financial statements.
The summary financial statements do not contain all the disclosures required by Canadian accounting
in the complete financial statements; and
• The summarized financial statements contain all the information necessary to avoid distorting or
obscuring matters disclosed in the complete financial statements, including the notes therein.
standards for not-for-profit organizations. Reading the summary financial statements, therefore, is not a Management determined that the statement of changes in net assets and the statement of cash flows
substitute for reading the audited financial statements of the College of Veterinarians of Ontario. do not provide additional useful information, and as such has not included them as part of the summary
financial statements.
Management’s Responsibility for the Summarized Financial Statements
Management is responsible for the fair summarization of the audited financial statements in accordance
with the criteria disclosed in the summary financial statements.
Auditor’s Responsibility
Our responsibility is to express an opinion on the summarized financial statements based on our
procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810
“Engagements to Report on Summary Financial Statements”.
Opinion
In our opinion, the summary financial statements derived from the audited financial statements of the
College of Veterinarians of Ontario for the year ended September 30, 2017 are a fair summary of those
financial statements, in accordance with the criteria disclosed in the summary financial statements.
Cowperthwaite Mehta
Chartered Professional Accountants
Licensed Public Accountants
Toronto, Ontario
December 5, 2017
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CVO Annual Report 2017
CVO Annual Report 2017
33