OE News Special Edition July 2013

REPORT OF THE INDEPENDENT AUDITOR ON THE SUMMARY FINANCIAL
STATEMENTS
To the Members of Operating Engineers’ Pension Plan:
The accompanying summary financial statements, which comprise the summary Statements of Net Assets
Available for Benefits as at April 30, 2012 and 2011, the summary Statements of Changes in Net
Assets Available for Benefits, and the summary Statement of Expenses for the years then
ended, are derived from the audited financial statements of the Operating Engineers’ Pension
Plan for the years ended April 30, 2012 and 2011. We expressed a qualified opinion on those
financial statements in our report dated September 24, 2012. Those financial statements, and
the summary financial statements, do not reflect the effects of events that occurred subsequent
to the date of our report on those financial statements.
The summary financial statements do not contain all the disclosures required by Section
9(7) of the Pension Benefits Standards Act of British Columbia. Reading the summary
financial statements, therefore, is not a substitute for reading the audited financial
statements of Operating Engineers’ Pension Plan.
Administration's Responsibility for the Summary Financial Statements
The administration and the Plan’s trustees are responsible for the preparation and fair
presentation of a summary of the audited financial statements in accordance with Section 9(7) of
the Pension Benefits Standards Act of British Columbia.
Auditors' Responsibility
Our responsibility is to express an opinion on the summary financial statements based on our
procedures which were conducted in accordance with Canadian Auditing Standard (CAS) 810,
“Engagements to Report on Summary Financial Statements.”
Except as described in the Basis for Qualified Opinion paragraph, we conducted our audit in
accordance with Canadian Auditing Standards. Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free from material misstatement.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our qualified audit opinion.
Basis for Qualified Opinion
We did not review the accounting records of the participating employers to ascertain whether
remittances made by them were in accordance with the requirements of the Plan. Accordingly, our
work in respect of remittances from employers was limited to the amounts recorded in the books of
the Plan.
Qualified Opinion
In our opinion, except for the possible effects of the matter described in the Basis for
Qualified Opinion paragraph, the summary financial statements present fairly in all material
respects the net assets available for benefits of the Plan as at April 30, 2012 and 2011 and the
results of its operations and changes in net assets available for benefits for the years then ended
in accordance with Section 9(7) of the Pension Benefits Standards Act of British Columbia.
Vancouver, British Columbia
April 11, 2013
Chartered Accountants
Special Edition Summer 2013 News 19