19 | CVO ANNUAL REPORT 2025
Report of the Independent Auditor on the Summary Financial Statements
To the Council, College of Veterinarians of Ontario
Opinion – The summary financial statements of the College of Veterinarians of Ontario, which comprise the summary statement of financial position as at September 30, 2025 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 for the year ended September 30, 2025.
In our opinion, these accompanying summary financial statements are a fair summary of the audited financial statements, in accordance with the criteria disclosed in the summary financial statements.
Summary financial statements – The summary financial statements do not contain all the disclosures required by Canadian accounting stanadards for not-for-profit organizations. Reading the summary financial statements and the auditor’ s report thereon, therefore, is not a substitute for reading the audited financial statements of the College of Veterinarians of Ontario and the auditor’ s report thereon.
The audited financial statements and our report thereon – We expressed an unmodified audit opinion on the financial statements in our report dated December 17, 2025.
Management’ s responsibilities for the summary 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 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”.
SUMMARY STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025
2025 2024
ASSETS CURRENT Cash |
$ |
362,696 |
$ |
518,261 |
Investments |
|
3,888,993 |
|
4,623,338 |
Accounts receivable |
|
30,356 |
|
61,202 |
HST receivable |
|
407,915 |
|
180,954 |
Prepaid expenses |
|
209,440 |
|
152,604 |
|
|
4,899,400 |
|
5,536,359 |
TANGIBLE CAPITAL ASSETS $ 1,409,832 $ 1,566,032
$ 6,309,232 $ 7,102,391
|
LIABILITIES CURRENT
Accounts payable and accrued liabilities
|
$ |
470,190 |
$ |
628,203 |
NET ASSETS
INVESTED IN TANGIBLE |
|
|
CAPITAL ASSETS |
1,409,832 |
1,566,032 |
UNRESTRICTED |
4,429,210 |
4,908,156 |
|
5,839,042 |
6,474,188 |
$ 6,309,232 $ 7,102,391
Guelph, Ontario December 17, 2025
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