Management Report
Management's Responsibility for the Financial Statements
The accompanying consolidated financial statements of Bluewater District School Board are the responsibility of the Board management and have been prepared in compliance with legislation, and in accordance with Canadian generally accepted accounting principles established by the Public Sector Accounting Board of The Canadian Institute of Chartered Accountants except as described in note 1 to the consolidated financial statements.
A summary of significant accounting policies are described in note 1 to the consolidated financial statements. The preparation of consolidated financial statements necessarily involves the use of estimates based on management's judgement, particularly when transactions affecting the current accounting period cannot be finalized with certainty until future periods.
Board management maintains a system of internal controls designed to provide reasonable assurance that assets are safeguarded, transactions are properly authorized and recorded in compliance with legislative and regulatory requirements, and reliable financial information is available on a timely basis for preparation of the consolidated financial statements. These systems are monitored and evaluated by management and by the Board's internal auditors.
The Board meets with management and the external auditors to review the financial statements and discuss any significant financial reporting or internal control matters prior to their approval of the consolidated financial statements.
The consolidiated financial statements have been audited by BDO Canada LLP, independent external auditors appointed by the Board. The accompanying 2010-11 Auditors' Report outlines their responsibilities, the scope of their examination and their opinion on the Board's financial statements.
John Bryant Director of Education |
Brenda Booth Superintendent of Business and Treasurer |
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Financial Services