2011 Consolidated Financial Report

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iArl, ("M APO t MAI A 2��- KPMG LLP Chartered Accountants 618 Greenwood Centre 3260 Doziel Drive Windsor, ON N8W 5KB Telephone (519) 251 -3500 Fax (519) 251 -3630 (519) 251 -3540 Internet www.kpnrg.ca INDEPENDENT AUDITORS' REPORT To the Members of Council, Inhabitants and Ratepayers of the Corporation of The Corporation of the County of Essex We have audited the accompanying consolidated financial statements of The Corporation of the County of Essex, which comprise the consolidated statement of financial position as at December 31, 2011 and the consolidated statements of operations and accumulated surplus, change in net financial assets and cash flows for the year then ended, and notes, comprising a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Canadian public sector accounting standards and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform an audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, In making those risk assessments, we consider internal controls relevant to the Entity's preparation and fair presentation of the consolidated 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 consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of The Corporation of the County of Essex as at December 31, 2019, and the results of its operations, changes in net financial assets and cash flows for the year then ended in accordance with Canadian public sector accounting standards. kAwz�r 1417 Chartered Accountants, Licensed Public Accountants June 22, 2012 Windsor, Canada KPMG LLP is a Caaadian limited liahtliiy partnorshrp and a member firm of Ilia KPMG network of indapendool nlonlhor times affiliated with KPMG International Cooperalive ( "KPMG International "), a Swiss anlity. KPMG Canada provides servicos to KPMG LLP.