MEYERS NORRIS PENNY«ue

AUDITORS' REPORT
To the Members of L' Association des Francophones de Nanaimo

We have audited the statement of financial position of L'Association des Francophones de Nanaimo
as at March 31, 2004 and the statements of operations, changes in net assets and cash flow for the
year then ended. These financial statements are the responsibility of the association's management.
Our responsibility is to express an opinion on these financial statements based on our audit.

Except as explained in the following paragraph, 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 statements. 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 common with many not for profit organizations, the association derives revenue from donations
totalling $8,114 (2003 - $6,408), gifts in kind totalling $206,882 (2003 - $192,740), and revenue
derived from special events totalling $49,094 (2003 -$49,882). The completeness of this revenue is
not susceptible to satisfactory audit verification. Accordingly, our verification of these revenues
was limited to the amounts recorded in the records of the association and we were not able to
determine whether any adjustments might be necessary to donations, gifts in kind, and revenue
derived from special events, deficiency of revenues over expenses, assets and fund balances.

In our opinion, except for the effects of adjustments, if any, which we might have determined to be
necessary had we been able to satisfy ourselves concerning the completeness of the donations and
admissions referred to in the preceding paragraph, these financial statements present fairly, in all
material respects, the financial position of the association as at March 31, 2004 and the results of its
operations and its cash flows for the year then ended in accordance with Canadian generally
accepted accounting principles. As required by the Society Act (British Columbia), we report that
in our opinion, these principles have been applied on a basis consistent with that of the preceding

year.
Meyer Mr Pam LLA
Nanaimo, B.C. CHARTERED ACCOUNTANTS
May 11, 2004
-l-
AIS = sevensent memes o CHARTERED ACCOUNTANTS & BUSINESS ADVISORS
BAKER TILLY 96 WALLACE STREET, P.O. BOX 514, NANAIMO, BC _V9R5L5

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