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Independent Auditors Report To the Members of Ontario Electronic Stewardship We have audited the accompanying financial statements of Ontario Electronic Stewardship which comprise the balance sheet as at December 31 2014 and the statements of changes in net assets operations and cash flows for the year then ended and a summary of significant accounting policies and other explanatory information. Managements Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian accounting standards for notforprofit organizations and for such internal control as management determines is necessary to enable the preparation of 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 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 the audit to obtain reasonable assurance about whether the 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 the auditors judgment including the assessment of the risks of material misstatement of the financial statements whether due to fraud or error. In making those risk assessments the auditor considers internal control relevant to the entitys preparation and fair presentation of the 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 entitys 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 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 these financial statements present fairly in all material respects the financial position of Ontario Electronic Stewardship as at December 31 2014 and the results of its operations and its cash flows for the year then ended in accordance with Canadian accounting standards for notforprofit organizations. Chartered Professional Accountants Licensed Public Accountants March 23 2015 Toronto Ontario 2014 F INANCIAL STATEMENTS 18