We have audited the balance sheet of Halifax Port Corporation as at December 31, 1995, and the statements of earnings and surplus and changes in financial position for the year then ended. These financial statements are the responsibility of the Corporation management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with 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 our opinion. these statements, present fairly, in all material respects, the financial position of the Corporation as at December 31. 1995, and the results of operations and the changes in its financial position for the year then ended in accordance with generally accepted accounting principles applied on a basis consistent with that of the preceding year.
Further, in our Opinion, the transactions of the Corporation that have come to our notice during our examination of the financial statements have, in all significant respects, been in accordance with the Financial Administration Act and Regulations, the Canada Ports Corporation Act, and the by-laws of the Corporation.
Chartered Accountants
Halifax Nova Scotia
January 26, 1996
Balance Sheet
Commitments (Note 5)
Contingent liabilities (Note 6)
See accompanying notes to the financial statements.
