Audited Financial Statements
Message from Ernst & Young Ford Rhodes Sidat Hyder.
To,
Board of Governors,
Leadership For Environment And
Development (LEAD) - Pakistan
We have audited the annexed balance sheet of the Leadership for Environment and Development (LEAD) Pakistan (the Society) as at 31 December 2011 and the related income and expenditure account, statement of cash flows and statement of changes in funds together with the notes forming part thereof (here-in-after referred to as the financial statements) for the year then ended. It is the responsibility of the management to establish and maintain a system of internal control, and prepare and present the financial statements in conformity with the approved accounting standards as applicable in Pakistan. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements of the Society for the years ended 31 December 2009 were audited by another firm Chartered Accountants, who report dated 20 July 2010 expressed an unqualified opinion thereon.
We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about 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 policies used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis our opinion.
Opinion
In
our opinion, the financial
statements present fairly, in
all material respects, the
financial position of the
Society as at 31 December 2011,
and of its surplus, cash flow
and changes in funds for the
year then ended, in accordance
with the approved accounting as
applicable in Pakistan.
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(Last updated: May 17, 2011)
