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THE 1986-1990 HEPATITIS C FUND
Auditors' Report
To the Joint Committee of the 1986-1990 Hepatitis C Fund
We have audited the statement of financial position of the 1986-1990 Hepatitis C Fund as at March 31, 2002 and the statement of expenses and revenue for the year then ended. These financial statements are the responsibility of the Joint Committee of the Fund. 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 plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial schedule. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
In our opinion, these financial statements present fairly, in all material respects, the financial position of the Fund as at March 31, 2002 and the results of its operations and its cash flows for the year then ended in accordance with Canadian generally accepted accounting principles.
Our previous report dated September 23, 2002 has been withdrawn and the financial statements have been revised to reflect a re-classification of legal fees from operating expenses to start-up costs in the amount of $6,644,379.
Chartered Accountants
September 23, 2002, except for paragraph four of this report which is dated
November 19, 2002.
Statement of Financial Position
Statement of Expenses and Revenue
Notes to the Financial Statements
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