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KPMG LLP
Telephone (604) 793-4700
Chartered Accountants
Fax
(604) 793-4747
200-9123 Mary Street
Internet
www.kpmg.ca
Chilliwack BC V2P 4H7
Canada
INDEPENDENT AUDITORS' REPORT
To the Shareholder of Tourism Chilliwack Inc.
We have audited the accompanying financial statements of Tourism Chilliwack Inc. which comprise the
statement of financial position as at December 31, 2011, December 31, 2010 and January 1, 2010,
the statements of operations, change in net financial assets and cash flows for the years ended
December 31, 2011 and December 31, 2010, and notes comprising a summary of significant accounting
policies and other explanatory information.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with Canadian public sector accounting standards, 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 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 an 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 our 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, we consider internal control relevant to the entity's 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 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 financial statements.
We believe that the audit evidence we have obtained in our audits is sufficient and appropriate to provide
a basis for our audit opinion.
Opinion
In our opinion, the financial statements present fairly, in all material respects, the financial position of
Tourism Chilliwack Inc. as at December 31, 2011, December 31, 2010 and January 1, 2010 and the
results of its operations, its changes in net financial assets and its cash flows for the years ended
December 31, 2011 and December 31, 2010 in accordance with Canadian public sector accounting
standards.
Chartered Accountants
February 14, 2012
Chilliwack, British Columbia
KPMG LLP, is a Canadian limited liability partnership and a member firm of the KPMG
network of independent member firms affiliated with KPMG International, a Swiss cooperative.
KPMG Canada provides services to KPMG LLP.
Tourism Chilliwack Inc.
Financial Statements
2011 City of Chilliwack Annual Report
66