Outdoor Power Equipment Institute of Canada Page 6
There were no significant changes in previously adopted accounting policies or their application. Significant Accounting Estimates Management is responsible for the accounting estimates included in the financial statements. Estimates and the related judgments and assumptions are based on management's knowledge of the business and past experience about current and future events. Our responsibility as auditors is to obtain sufficient appropriate evidence to provide reasonable assurance that management's accounting estimates are reasonable within the context of the financial statements as a whole. Management has advised us that there were no significant estimates recorded in the financial statements. Significant Financial Statement Disclosures We did not identify any financial statement disclosures that are particularly significant, sensitive or require significant judgments, that we believe should be specifically drawn to your attention. Significant Unusual Transactions There were no significant or unusual transactions identified during our audit. Disagreements with Management We are required to communicate any disagreements with management, whether or not resolved, about matters that are individually or in aggregate significant to the financial statements. We are pleased to inform you that we had no disagreements with management during the course of our audit. Consultation with Other Accountants Management may consult with other accountants about auditing and accounting matters to obtain a second opinion. In such cases, we are required to ensure that the accountant has knowledge of the facts and circumstances and has conducted the engagement in accordance with Canadian GAAS on the Reports on the Application of Accounting Principles. Management has informed us that OPEIC has not consulted with other accountants about auditing or accounting matters. Audit Adjustments and Uncorrected Misstatements Our audit of the financial statements was designed to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.
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