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16Tel4168650200Fax4168650887www.bdo.caBDOCanadaLLPRoyalBankPlazaSouthTower200BayStreet33rdFloorPOBox32TorontoONM5J2J8CanadaIndependentAuditorsReportTotheMembersofOntarioElectronicStewardshipWehaveauditedtheaccompanyingfinancialstatementsofOntarioElectronicStewardshipwhichcomprisethebalancesheetsasatDecember312012December312011andJanuary12011andthestatementsofchangesinnetassetsoperationsandcashflowsfortheyearsendedDecember312012andDecember312011andasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.ManagementsResponsibilityfortheFinancialStatementsManagementisresponsibleforthepreparationandfairpresentationofthesefinancialstatementsinaccordancewithCanadianaccountingstandardsfornot-for-profitorganizationsandforsuchinternalcontrolasmanagementdeterminesisnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatementwhetherduetofraudorerror.AuditorsResponsibilityOurresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonouraudits.WeconductedourauditsinaccordancewithCanadiangenerallyacceptedauditingstandards.Thosestandardsrequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthefinancialstatements.Theproceduresselecteddependontheauditorsjudgmentincludingtheassessmentoftherisksofmaterialmisstatementofthefinancialstatementswhetherduetofraudorerror.Inmakingthoseriskassessmentstheauditorconsidersinternalcontrolrelevanttotheentityspreparationandfairpresentationofthefinancialstatementsinordertodesignauditproceduresthatareappropriateinthecircumstancesbutnotforthepurposeofexpressinganopinionontheeffectivenessoftheentitysinternalcontrol.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesmadebymanagementaswellasevaluatingtheoverallpresentationofthefinancialstatements.Webelievethattheauditevidencewehaveobtainedinourauditsissufficientandappropriatetoprovideabasisforourauditopinion.OpinionInouropinionthesefinancialstatementspresentfairlyinallmaterialrespectsthefinancialpositionofOntarioElectronicStewardshipasatDecember312012December312011andJanuary12011andtheresultsofitsoperationsanditscashflowsfortheyearendedDecember312012andDecember312011inaccordancewithCanadianaccountingstandardsfornot-for-profitorganizations.CharteredAccountantsLicensedPublicAccountantsMarch72013TorontoOntario