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2014 Consolidated Financial Report
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2014 Consolidated Financial Report
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Last modified
7/13/2023 11:48:37 AM
Creation date
7/14/2015 2:43:17 PM
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F - Finance and Accounting
F - Finance and Accounting - Date
10/9/2020
Type of Document
Financial Statements
F - Finance and Accounting - Description
10/9/2020
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Administrative Report <br /> Page 2 <br /> July 15, 2015 <br /> 2015 County of Essex Consolidated Financial Report <br /> The Essex County Civic and Education Centre is not consolidated. The <br /> County's contribution to the operations of the Civic Centre, and its share of <br /> the Centre's surplus is reported in the Consolidated Financial Report. <br /> The Sun Parlor Home Residents' Trust Fund is not consolidated. The <br /> operations of the Fund are reported separately in the Consolidated Financial <br /> Report on the Trust Fund Statement of Financial Position and Statement of <br /> Continuity. <br /> The 2014 audit was conducted by KPMG. The auditors' opinion is attached to <br /> the Consolidated Financial Report. <br /> Discussion <br /> Audit Opinion <br /> KPMG has expressed a clean audit opinion following its examination of the <br /> accounts of the Corporation. <br /> This condition reflects the auditors' opinion that the results of operations for <br /> the year ended December 31, 2014, and its financial position as at <br /> December 31, 2014 are presented fairly in the Consolidated Financial <br /> Report. <br /> KPMG report to County Council: 2014 Financial Statements <br /> Professional standards require KPMG to communicate to County Council, as <br /> the Corporation's governance body, on financial controls and accounting <br /> policies, such as: unusual transactions, illegal and fraudulent activities, audit <br /> discrepancies, Auditor's independence etc., attached as A penix A is <br /> KPMG's correspondence to Council. Provided below is summary of KPMG's <br /> findings: <br /> • No significant unusual transactions identified <br /> • No change in the application of accounting policies identified <br /> • No exceptions in testing on significant estimates <br /> • No illegal acts or possibly illegal acts identified <br /> • No fraud or suspected fraud involving administration or employees <br /> having significant roles in internal control <br />
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