Ornge
THE “ORNGE” FINANCIAL STATEMENTS WHICH BEGIN BELOW WERE EXTRACTED FROM:
Ontario
Ministry of Finance
PUBLIC ACCOUNTS
of
ONTARIO
2010-2011
PUBLIC ACCOUNTS, 2010-2011
1-227
Ornge
June 29, 2011 The accompanying consolidated financial statements of Ornge have been prepared in accordance with Canadian generally accepted accounting principles, and are the responsibility of management. The preparation of financial statements necessarily involves the use of estimates and assumptions based on management’s judgment that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. The financial statements have been properly prepared within reasonable limits of materiality and in light of information available up to June 16, 2011. Management is responsible for the fair presentation of the consolidated financial statements in accordance with Canadian generally accepted accounting principles and for the design and implementation of internal control to prevent and detect fraud and error. Management has assessed the risk that the consolidated financial statements may be materially misstated as a result of fraud, and has determined such risk to be low. The Board of Directors of Ornge is responsible for ensuring that management fulfills its responsibilities for financial reporting and internal controls. The Board generally meets periodically with management to satisfy itself that such responsibilities have been fulfilled. The consolidated financial statements for the year ended March 31, 2011 have been audited by KPMG LLP (“KPMG”). KPMG’s responsibility is to express an opinion on whether the consolidated financial statements are fairly presented in accordance with Canadian generally accepted accounting principles. The Auditors’ Report dated June 16, 2011 outlines the scope of KPMG’s examination and opinion on
Ontario
Ministry of Finance
PUBLIC ACCOUNTS
of
ONTARIO
2010-2011
PUBLIC ACCOUNTS, 2010-2011
1-227
Ornge
June 29, 2011 The accompanying consolidated financial statements of Ornge have been prepared in accordance with Canadian generally accepted accounting principles, and are the responsibility of management. The preparation of financial statements necessarily involves the use of estimates and assumptions based on management’s judgment that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. The financial statements have been properly prepared within reasonable limits of materiality and in light of information available up to June 16, 2011. Management is responsible for the fair presentation of the consolidated financial statements in accordance with Canadian generally accepted accounting principles and for the design and implementation of internal control to prevent and detect fraud and error. Management has assessed the risk that the consolidated financial statements may be materially misstated as a result of fraud, and has determined such risk to be low. The Board of Directors of Ornge is responsible for ensuring that management fulfills its responsibilities for financial reporting and internal controls. The Board generally meets periodically with management to satisfy itself that such responsibilities have been fulfilled. The consolidated financial statements for the year ended March 31, 2011 have been audited by KPMG LLP (“KPMG”). KPMG’s responsibility is to express an opinion on whether the consolidated financial statements are fairly presented in accordance with Canadian generally accepted accounting principles. The Auditors’ Report dated June 16, 2011 outlines the scope of KPMG’s examination and opinion on