# HOLLAND COLLEGE We have audited the accompanying consolidated financial statements of Holland College which comprise the consolidated statements of financial position as at March 31, 2013, March 31, 2012 and April 1, 2011 and the consolidated statements of operations, consolidated statements of changes in net asset | | | |---|---| | Type | PDF | | Size | 76 KB | [Open original PDF →](https://hollandcollege.com/assets/documents/presidents-office/fs-holland-college-2013.pdf) Referenced from: [Consolidated Financial Statements](/pages/about/consolidated-financial-statements-html/) ## Document text Consolidated Financial Statements of ## HOLLAND COLLEGE Year ended March 31, 2013 ## INDEPENDENT AUDITOR'S REPORT ## To the Board of Governors of Holland College We have audited the accompanying consolidated financial statements of Holland College which comprise the consolidated statements of financial position as at March 31, 2013, March 31, 2012 and April 1, 2011 and the consolidated statements of operations, consolidated statements of changes in net assets and consolidated statements of cash flows for the years ended March 31, 2013 and March 31, 2012, and 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 accounting standards for not-for-profit organizations, 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. ## Auditor's Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audits 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 consolidated financial statements. The procedures selected depend on the auditor's 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, the auditor considers the internal control 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 College as at March 31, 2013, March 31, 2012 and April 1, 2011 and the results of its operations, changes in net assets and cash flows for the years ended March 31, 2013 and March 31, 2012 in accordance with Canadian accounting standards for not-for-profit organizations. Charlottetown, Prince Edward Island July 16, 2013 ine accompanying notes are an integral part or tese consoudatea ninancial statements. On Behalf of the Board. ## HOLLAND COLLEGE Consolidated Statements of Financial Position | | March 31, 2013 | March 31, 2012 | April 1, 2011 | | --- Source: [https://hollandcollege.com/assets/documents/presidents-office/fs-holland-college-2013.pdf](https://hollandcollege.com/assets/documents/presidents-office/fs-holland-college-2013.pdf)