2016 Annual Report - Final

2014 Annual Report
2016 Annual Report

20142016 Annual Annual Report Report
2016 Annual Report
Table of Contents
Table of Contents
Who We Are 3
International Who We Are Recognition 3 3
Our International Vision Recognition 3 3
Our Our Mission Vision 3 3
Our Our Board Mission of Directors 3 3
What Our We Board Do of Directors 4 3
Message What from We Do the Chairman 5 4
Message Message from from the the CEO Chairman 6 5
Auditor’s Message Report from the CEO 7 6
Financial Auditor’s Statements Report 8 7
Notes Financial to Financial Statements Statements 11 8
2017 Notes Canadian to Financial Underwater Statements Conference and Exhibition 15 11
2017 Canadian Underwater Conference and Exhibition 15
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20142016 Annual Annual Report Report
2016 Annual Report
Table Who of We Contents Are
The Diver Certification Board of Canada (DCBC) is an independent federally incorporated not-forprofit
Who We
body
Are
which operates under the authority of agreements with the Canada - Newfoundland
3
and
Labrador International Offshore Recognition Petroleum Board and the Canada - Nova Scotia Offshore Petroleum Board. 3
The
Our
DCBC
Vision
was founded in 2002 by the diving industry to replace the offshore diver certification
3
regime Our Mission of the National Energy Board and the offshore petroleum boards. The DCBC is the 3 only
national Our Board body of Directors which certifies offshore and inshore occupational diving and ROV personnel 3 in Canada.
International What We Do Recognition
4
DCBC Message is a founding from the Chairman member of the International Diving Regulators Forum (IDRF) and has 5 observer status
Message in the from European the CEO Diving Technology Committee (EDTC). Certificates issued by the DCBC 6 are recognized
Auditor’s by Australia Report (ADAS), France, Norway, South Africa, the United Kingdom (HSE) and 7 the International
Marine Contractors Association (IMCA).
Financial Statements 8
Our Notes Vision to Financial Statements 11
Our 2017 vision Canadian is of an Underwater internationally Conference recognized and Exhibition national certification scheme for the occupational 15 diving
and ROV industry, guided by various stakeholders who are dedicated to the development and
enhancement of the Canadian underwater industry without personal gain or profit.
Our Mission
Our mission is to provide a national Canadian certification scheme for occupational diving and ROV
personnel, based on a single national standard of competencies, in order to enhance industry safety
by demonstrating personal competency.
Our Board of Directors
Jonathan Chapple*
Bruce Banks
Dennis Barrington
Cory Beaudry
Marc-André Désy
Garth Hiebert
Shawn MacPhail
John Mitchell
Ian White
* Chairman
Aqua-Lung Canada
Divers Institute of Technology
Wet Work Marine
BC College of Diving
Expertech Marine
Dominion Divers Ltd.
Dominion Diving Ltd.
Retired MOL Diving Inspector
Closed Bell Diver/ Air DSS
Past Directors
Steven Hart
2001 to 2009 (First Chairman)
David Squires
2001 to 2011 (Second Chairman)
James H Wilson 2001 to 2010
John Scott 2002 to 2011
David W. Geddes 2002 to 2011
Ian Rodd 2004 to 2013
Steve Duffy 2007 to 2016
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20142016 Annual Annual Report Report
2016 Annual Report
Table What of We Contents Do
The DCBC offers certification to professional diving and
Who We Are 3
ROV personnel who can demonstrate that they have
sufficient International training Recognition and experience to enable them to
3
meet Our Vision the competency requirements of the appropriate
3
section Our Mission of the Canadian Standards Association (CSA)
3
Competency Standard for Diving, Hyperbaric Chamber,
Our Board of Directors 3
and Remotely Operated Vehicle Operations (CSA
Standard What We Z275.4). Do 4
Message from the Chairman 5
The DCBC has accredited eighteen commercial diver training establishments (DTE) whose training
meets Message the from requirements the CEO of the CSA standard for Occupational Diver Training (CSA Standard 6 Z275.5),
ten Auditor’s in Canada Report and seven in the United States and one in the West Indies. DTE’s also assess 7 the competency
Financial of Statements experienced commercial and other professional divers, provide training where 8 necessary,
and recommend the diver for certification.
Notes to Financial Statements 11
Certificates 2017 Canadian Issued Underwater in the Past Conference Ten Years and Exhibition 15
Certificate Type 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
SCUBA
15 12 14 28 26 66 123 54 70 71
SCUBA Supervisor 2 1 1 3 3 5
7 6 6 0
RSS Diver
114 110 78 72 83
448 424 504 655 779
USS Diver 793 932 878 974 972
SS Supervisor 17 10 23 28 46 55 48 57 40 69
Closed Bell Diver 20
39 58 26 45 67 52 50 11 23
Offshore Air Supervisor 4 5 5 1 3 2 6 4 0 4
Bell Diving Supervisor
2 9 8 8 15 19 10 8 4 6
Diving Safety Specialist 3 5 10 2 8 6
15 9 4 7
LST/LSS/HCO/Tender/ROV 0 3 8 5 16 20 20 6 2 4
Total 511 508 631 756 941 1147 1323 1150 1183 1239
Growth in Total Certificates Issued vs. Certificates Renewed
1400
1200
1000
800
600
Total Certificates
Certificate Renewals
400
200
0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
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20142016 Annual Annual Report Report
2016 Annual Report
Table of Contents
Message from the Chairman
Who We Are 3
”The Board continues to support the drive, led by the
International Recognition 3
Canadian Association of Diving Contractors (CADC)
Our Vision 3
for a single national diving standard based on the
Our Mission 3
CSA occupational diving safety code...”
Our Board of Directors 3
What We Do 4
Message from the Chairman 5
In Message my final from year the as Chairman CEO I am pleased to report
Auditor’s that 2016 Report was another solid year of perfordian
Underwater Conference & Exhibition 7 (CUCE)
As mentioned above another outstanding 6 Canamance
for the Diver Certification Board of Canada.
Financial Statements completed in Ottawa, March 2017. 8 The organizing
committee of volunteers - from DCBC, CADC
The Notes DCBC to Financial Board of Statements Directors has continued to
11
and industry - worked extremely hard to ensure
contribute 2017 Canadian to improving Underwater safety Conference in the Canadian and Exhibition
that the conference lived up to
15
its well-earned
diving industry by actively monitoring the effectiveness
of DCBC policies and processes. During
reputation for excellent technical sessions and
networking. The 2018 conference in Vancouver
the past year the Board has focused on the accreditation
policy and procedures
for diver train-
the rotation of locations running from the East
will be the 10 th anniversary and will complete
ing establishments, including increased quality Coast, through central Canada, to the West
control of training programs, improved
audit
Coast. The CUCE is a unique event in Canada and
checklists, and feedback. This important work will is presented by the DCBC in order to support the
ensure consistency and will culminate
in a revised underwater industry in which we all participate.
school accreditation policy to be published before
the end of this year.
In summary, during my 6-year term as Chairman,
the DCBC has re-examined and updated core
I will take this opportunity once again to re-iterate policies and procedures as well as improving its
the Board’s steadfast support for the development
of the Z275 series of Canadian Standards ble largely due to the commitment and dedica-
own internal organization. This has been possi-
Association (CSA) standards. These standards are tion of my fellow Directors and our Executive
among the very best in the world and are the staff. I thank all of them for their support and I
foundation of the DCBC national certification look forward to the continued success of the
scheme. In recognition of the quality of these DCBC as the baton is passed to a new Chairman
standards and the involvement of all sectors of later in 2017.
the diving industry, the Board continues to support
the drive, led by the Canadian Association of
Diving Contractors (CADC), for a single national Jonathan Chapple
diving standard based on the CSA occupational LCDR RN (Ret’d), FCMI, MIExpE, LLB
diving safety code Z275.2. As I noted at the recent
Chairman, DCBC
Canadian Underwater Conference & Exhibition, I
am pleased that the discussion within our industry
is underway – may this lead to a successful outcome.
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20142016 Annual Annual Report Report
2016 Annual Report
Table of Contents
Message from the CEO
Who We Are 3
“We also continue to work with members of the
International Recognition International Diving Regulators & Certifiers Forum 3
Our Vision (IDRCF), of which DCBC is a founding member, most 3
Our Mission recently on the harmonization of bell diver training” 3
Our Board of Directors 3
What We Do 4
Message from the Chairman 5
In Message 2016 DCBC from issued the CEO 1239 certificates, compared The IDRCF, of which DCBC is a founding 6 member,
to 1183 in 2014.
is currently discussing the international harmonization
of unrestricted surface supplied diver
Auditor’s Report 7
We Financial completed Statements audits of five existing accredited
training requirements; one of our 8 roles will be to
diver training establishments (DTE), following our
Notes to Financial Statements ensure that CSA committees are kept 11 up to date
regular schedule which requires all accredited
with their progress.
schools 2017 Canadian to be audited Underwater every two Conference and a half and years. Exhibition 15
We also conducted initial accreditation audits for Working with the Canadian Underwater and Hyperbaric
Medicine Association (CUHMA) we be-
three new DTE’s based in Hudson, FL, Charleston,
SC and St. Kitts & Nevis.
gan the arduous process of confirming the qualifications
of all the physicians listed as diving
We continued working with all
parts of the occupational
diving community, in Canada and be-
medical examiners on our website. Once all currently
listed physicians are confirmed we will
yond. We worked with labour inspectors in
Nova
turn over responsibility for placing physicians on
Scotia and Ontario on issues relating to diver certification
and with major clients of diving
con-
the list to CUHMA.
tractors on issues relating to managing diving We have begun a total overhaul of our website,
contracts. We spoke at the Canadian
Dam Association
annual conference on the subject of the will build the new website using the content
beginning with the selection of a contractor who
“knowledgeable client”.
management software, WordPress. The new
website will allow candidates to apply online and
will be optimized for use on tablets and smart
phones.
Of course we continue to participate fully in the
work of the Canadian Standards Association’s
committees for the CSA Z275 family of divingrelated
standards. In recognition of the value of
the CSA standards to the work of the DCBC we
have again contributed to the costs of the production
of diving standards in the amount of
$1,774.50.
We also continue to work with members of the
International Diving Regulators & Certifiers Forum
(IDRCF), most recently on the harmonization
of bell diver training requirements.
As this report goes to print we are celebrating
the success of the 9 th Canadian Underwater Conference
& Exhibition (CUCE) in Ottawa, ON. In
2018 the conference will return to the Vancouver,
BC area and be held in the brand new 10,000
-square foot Britannia Ballroom at the Sheraton
Vancouver Airport Hotel. We hope to see you
there.
David G. Parkes, M.Ed.
Chief Executive Officer
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20142016 Annual Annual Report Report
Table of Contents
Who We Are 3
International Recognition 3
Our Vision 3
AUDITORS' REPORT
Our Mission 3
To the Board of: DIVER CERTIFICATION BOARD OF CANADA
Our Board of Directors 3
What Report We on Do the Financial Statements
4
We have audited the accompanying financial statements of DIVER CERTIFICATION BOARD OF CANADA, which
comprise the statement of financial position as at December 31, 2016, the statement of changes in net assets, the
statements of operations, and cash flows for the year then ended, and a summary of significant accounting policies
and other explanatory information.
Message from the Chairman 5
Message from the CEO 6
Auditor’s Report 7
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
Canadian accounting standards for not-profit-organizations and for such internal control as management determines
is necessary to enable the preparation of financial statements that are free from material misstatement, whether due
to fraud or error.
Financial Statements 8
Notes to Financial Statements 11
2017 Canadian Underwater Conference and Exhibition 15
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit
in accordance with Canadian generally accepted 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.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by management,
as well as evaluating the overall presentation of the financial statements.
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
In common with many non-profit organizations, the organization derives part of its revenue from delegate fees from
the annual conference, the completeness of which is not susceptible to satisfactory audit verification. Accordingly, in
the current and prior year our verification of these revenues was limited to the amounts recorded in the records of
the organization and we were not able to determine whether any adjustments might be necessary to revenues,
excess of revenue over expenses, assets and net assets.
Qualified Opinion
In our opinion, except for the effects (or the possible effects) of the matter described in the Basis for Qualified
Opinion paragraph, the financial statements present fairly, in all material respects, the financial position of DIVER
CERTIFICATION BOARD OF CANADA as at December 31, 2016, and its financial performance and its cash flows for the
year then ended in accordance with Canadian generally accepted accounting principles.
Bluenose Accounting Chartered Accountants
Halifax, Nova Scotia
Febuary 28, 2017
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DIVER CERTIFICATION BOARD OF CANADA
DIVER CERTIFICATION BOARD OF CANADA
2016 Annual Report
STATEMENT OF FINANCIAL POSITION
STATEMENT OF FINANCIAL POSITION
20142016 Annual Annual Report Report
DECEMBER 31 2016 2015
Table DECEMBER of Contents 31 2016 2015
2015 Annual Report Table of Contents
ASSETS Who We Are 3
DIVER
DIVER
ASSETS CERTIFICATION BOARD OF CANADA
International
CERTIFICATION BOARD OF CANADA
Who
We Are Recognition 3 3
CURRENT STATEMENT
STATEMENT
CURRENT
ASSETS
Table ASSETS OF FINANCIAL POSITION
Our of
International Vision Contents
Cash OF Recognition FINANCIAL POSITION
3 3
Cash
$ 320,506
$ 320,506
$ 299,606
$ 299,606
Accounts Our
DECEMBER DECEMBER Accounts receivable
Mission Vision receivable 31
41,949 41,949 2016
31 2016
3 345,58245,582
2015
HST Who receivable We Are 2015
HST receivable 6,963 3
6,963 6,777 6,777
Prepaid Our expenses
Board
Prepaid Mission of Directors
expenses 28,460 3 3
International Recognition 28,460 3 13,860 13,860
Inventory What
ASSETS
Our ASSETS Inventory Board We Do of Directors
7,875 7,875 3 414,53114,531
Our Vision
3
Message What We from Do the Chairman $ 405,753 $ 405,753 $ 4380,356
$ 5 380,356
Our
CURRENT CURRENT Mission ASSETS ASSETS
3
LIABILITIES Message
Cash Cash
LIABILITIES
from the CEO Chairman
$ $ 320,506 320,506 $
5 6
Our Board of Directors 3 $ 299,606 299,606
Auditor’s Message Accounts
Report from receivable the CEO 41,949 41,949 6 7 45,582 45,582
CURRENT What HST HST We CURRENT
LIABILITIES
receivable Do LIABILITIES
6,963 6,963 4
6,777
6,777
Accounts Financial Auditor’s Prepaid Accounts payable
Statements expenses Report
and payable accrued and accrued liabilities liabilities $ 10,489 $ 28,460 10,489 28,460 $ 7
$ 8
Message 10,319 13,860 10,319 13,860
Deferred Notes Financial Inventory Deferred revenue from the Chairman to Financial Statements revenue Statements 19,896 7,875 19,896 7,875 5
81127,380
14,531 27,380 14,531
Payroll
source Payroll deductions source deductions 4,624 5,448
2017 Notes Canadian to Financial Underwater Statements Conference and Exhibition $ $
4,624
Message from the CEO
6
405,753 405,753 11 $ 15 $ 5,448
380,356 380,356
Auditor’s
Report 35,009 35,009 7
43,147 43,147
2017 LIABILITIES
Canadian Underwater Conference and Exhibition 15
Financial Statements 8
COMMITMENTS Notes CURRENT COMMITMENTS to
Financial (Note LIABILITIES
Statements 6) (Note 6)
11
Accounts payable and
2016 Canadian accrued liabilities $ $ 10,489 10,489 $ $ 10,319 10,319
NET ASSETS
Deferred NET
Underwater Conference and Exhibition 15
ASSETS
revenue 19,896 19,896 27,380 27,380
Payroll source deductions 4,624
4,624 5,448
5,448
UNRESTRICTED
35,009 43,147
370,744 35,009
337,209 43,147
UNRESTRICTED
370,744 337,209
COMMITMENTS (Note (Note 6) 6)
$ 405,753 $ 380,356
$ 405,753 $ 380,356
NET NET ASSETS
UNRESTRICTED
UNRESTRICTED
370,744 337,209
Approved by the Directors:
370,744 337,209
Approved
by the Directors:
Director
Director
$ 405,753 $ 380,356
$ 405,753 $ 380,356
Director
Director
Approved
by the Directors:
Approved by the Directors:
Director
Director
Director
Director
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DIVER CERTIFICATION BOARD OF CANADA
STATEMENT OF FINANCIAL POSITION
20142016 Annual Annual Report Report
DECEMBER 31 2016 2015
Table of Contents
DIVER ASSETS CERTIFICATION BOARD OF CANADA
Who We Are 3
International STATEMENT CURRENT ASSETS
Recognition OF OPERATIONS AND CHANGES IN NET ASSETS
Cash $ 320,506
3
$ 299,606
Our YEAR
Accounts Vision ENDED
receivable
DECEMBER 31 2016
41,949 3 2015
45,582
HST receivable 6,963 6,777
Our Prepaid Mission expenses 28,460 3 13,860
Our Inventory Board of Directors 7,875 3 14,531
REVENUE
What Certificate We Do fees $ $ 257,470 405,753 $ 4 $ 260,974 380,356
Conference 107,399 116,242
Message
Operating LIABILITIES
from
grants
the
(Note
Chairman
5) 36,000
5
36,000
Message Accrediation from cost the recovery CEO 28,546 6 15,144
Other CURRENT LIABILITIES
17,801 18,511
Auditor’s
Accreditation Accounts
Report
payable fees and accrued liabilities $ 3,802 10,489
7
$ 5,000 10,319
Financial Deferred Statements revenue 19,896 8 27,380
Payroll source deductions 451,018 4,624 451,871 5,448
Notes to Financial Statements 11
EXPENDITURES
35,009 43,147
2017 Canadian Underwater Conference and Exhibition 15
Advertisements 3,487 4,354
Board COMMITMENTS meetings (Note 6)
39,651 36,461
Conference
85,436 96,211
Furniture NET ASSETS and equipment
1,110 2,673
Insurance 2,534 2,655
Interest and bank charges 4,195 4,008
Office UNRESTRICTED
31,103 370,744 37,070 337,209
Professional fees 19,374 18,033
Rent 16,195 16,846
Salaries and benefits $ 189,041 405,753 $ 180,575 380,356
Training - 455
Travel 25,357 23,261
417,483 422,602
Approved by the Directors:
EXCESS OF REVENUE OVER EXPENSES
Director
$ 33,535 $ 29,269
Director
CHANGE IN NET ASSETS
Unrestricted net assets at beginning of year $ 337,209 $ 307,940
Excess of revenue over expenses 33,535 29,269
Unrestricted net assets at end of the year $ 370,744 $ 337,209
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DIVER CERTIFICATION BOARD OF CANADA
STATEMENT OF FINANCIAL POSITION
20142016 Annual Annual Report Report
DECEMBER 31 2016 2015
Table of Contents
ASSETS
Who DIVER We CERTIFICATION Are BOARD OF CANADA
3
CURRENT ASSETS
International STATEMENT Cash OF Recognition CASH FLOWS
$ 320,506
3
$ 299,606
Our Accounts Vision receivable 41,949 3 45,582
YEAR HST ENDED receivable DECEMBER 31 2016 6,963 2015 6,777
Our Prepaid Mission expenses 28,460 3 13,860
Our Inventory Board of Directors 7,875 3 14,531
CASH FLOWS FROM OPERATING ACTIVITIES
What Receipts We from Do fees, grants and other $
$
347,252
405,753
$ 4 $
325,177
380,356
Message Net receipts from from the conference Chairman 99,915 5 117,541
Payment
LIABILITIES
for salaries (189,865) (179,487)
Message Payment from for other CEO expenses (135,255) 6 (152,447)
Auditor’s Payment
CURRENT
Report for
LIABILITIES
conference (100,037) 7 (99,885)
Accounts payable and accrued liabilities $ 10,489 $ 10,319
Financial Deferred Statements revenue 22,010 19,896 8 10,899 27,380
Notes CASH Payroll FLOWS source
to Financial FROM deductions
Statements INVESTING ACTIVITIES
4,624 5,448
11
Purchase of furniture and equipment (1,110) 35,009 (2,673) 43,147
2017 Canadian Underwater Conference and Exhibition 15
CHANGE IN CASH AND EQUIVALENTS DURING THE YEAR 20,900 8,226
COMMITMENTS (Note 6)
CASH AND EQUIVALENTS
AT BEGINNING OF YEAR 299,606 291,380
NET ASSETS
CASH AND EQUIVALENTS AT
END OF YEAR $ 320,506 $ 299,606
REPRESENTED UNRESTRICTED BY:
370,744 337,209
Cash $ 320,506 $ 299,606
Approved by the Directors:
Director
Director
$ 405,753 $ 380,356
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DIVER CERTIFICATION BOARD OF CANADA
STATEMENT OF FINANCIAL POSITION
20142016 Annual Annual Report Report
DECEMBER 31 2016 2015
Table of Contents
DIVER ASSETS CERTIFICATION BOARD OF CANADA
Who We Are 3
NOTES CURRENT TO FINANCIAL ASSETSSTATEMENTS
International
Cash
Recognition
$ 320,506
3
$ 299,606
DECEMBER
Our Accounts 31,
Vision receivable 2016
41,949 3 45,582
HST receivable 6,963 6,777
Our Prepaid Mission expenses 28,460 3 13,860
1. MISSION
Our Inventory
AND VISION OF ORGANIZATION
Board of Directors 7,875 3 14,531
The What Board We is Do a not-for-profit organization under section 149 (1) of the Income $ Tax 405,753 Act, and, 4 as $ such, 380,356
is exempt from income taxes. Accordingly, no provision has been made in the accounts for income
taxes. Message
LIABILITIES
from the Chairman 5
Message from the CEO 6
a) Vision CURRENT LIABILITIES
Auditor’s
Accounts
Report
payable and accrued liabilities $ 10,489
7
$ 10,319
The Diver Certification Board of Canada’s vision is of an internationally recognized national
certification Financial Deferred Statements revenue 19,896
scheme for the occupational diving and ROV industry, guided by various stakeholders 8 27,380
who
Payroll
Notes are to dedicated
source deductions
Financial to Statements the development and enhancement of the Canadian underwater
4,624
11 industry
5,448
without personal gain or profit
35,009 43,147
2017 Canadian Underwater Conference and Exhibition 15
b) Mission statement
COMMITMENTS (Note 6)
The mission of the Diver Certification Board of Canada is to provide a national Canadian certification
scheme for occupational diving and ROV personnel, based on a single national standard of
competencies,
NET ASSETS
in order to enhance industry safety by demonstrating personal competency.
2. SIGNIFICANT UNRESTRICTED ACCOUNTING POLICIES
370,744 337,209
The financial statements were prepared in accordance with Canadian accounting standards for notprofit-organizations
(ASNPO). The financial statements include the following $ significant 405,753 accounting $ 380,356
policies:
a) Fund accounting
Revenues Approved and expenses by the Directors: related to program delivery and administrative activities are reported in the
Unrestricted Fund. This is the only fund in use for the period covered by these statements.
Director
b) Cash and cash equivalents
Director
The entity's policy is to disclose bank balances under cash and cash equivalents, including bank
balances and term deposits with a maturity period of three months or less.
c) Furniture and equipment
Property & equipment additions are expensed in the year of acquisition. Expensed during the year
d) Revenue recognition
The Board recognizes grants and conference income in the period to which they relate and when
collection is reasonably assured. Certificate and accreditation fees are recognized when the
certificate is issued or accreditation granted and when collection is reasonably assured. Other
revenue is recognized when the risk and rewards have transferred and when collection is
reasonably assured.
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DIVER CERTIFICATION BOARD OF CANADA
STATEMENT OF FINANCIAL POSITION
20142016 Annual Annual Report Report
DECEMBER 31 2016 2015
Table of Contents
DIVER CERTIFICATION BOARD OF CANADA
ASSETS
NOTES Who We TO FINANCIAL Are STATEMENTS
3
CURRENT ASSETS
International Recognition 3
DECEMBER Cash 31, 2016
$ 320,506 $ 299,606
Our Accounts Vision receivable 41,949 3 45,582
HST receivable 6,963 6,777
Our Mission 3
e) Donated Prepaid services expenses 28,460 13,860
Our Inventory Board of Directors 7,875 3 14,531
The organization benefits greatly from donated materials and services in the form of volunteer
time. What The We value Do of donated materials and services is not recognized in these $ financial 405,753 statements. 4 $ 380,356
Message from the Chairman 5
f) Use LIABILITIES of estimates
Message from the CEO 6
The CURRENT preparation LIABILITIES of financial statements in conformity with Canadian ASNPO requires management
to Auditor’s make Accounts estimates Report
payable and and assumptions accrued that liabilities affect the reported amounts of assets $ and 10,489 liabilities 7 and $ 10,319
disclosure Financial Deferred of Statements contingent revenue assets and liabilities at the date of financial statements and 19,896 the reported 8 27,380
amounts Payroll of source revenues deductions and expenses during the reporting period. These estimates 4,624 are reviewed 5,448
periodically Notes to Financial and adjustments Statements are made to income as appropriate in the year they become known. 11
35,009 43,147
g) 2017 Inventory Canadian Underwater Conference and Exhibition 15
Inventories COMMITMENTS consists of (Note log book 6) are stated at the lower of cost or net realizable value on a on a first
in first out basis
NET ASSETS
3. GOING CONCERN
The UNRESTRICTED financial statements have been prepared in accordance with Canadian ASNPO 370,744 on a going 337,209
concern basis. Under the going concern assumption, a organization is viewed as being able to
realize its assets and discharge its liabilities in the normal course of operations.
$ 405,753 $ 380,356
4. FINANCIAL INSTRUMENTS
The organization's financial instruments consist of cash, accounts receivable, HST receivable,
accounts payable and accrued liabilities and payroll source deductions. In management's opinion,
Approved by the Directors:
unless otherwise noted, the organization is not exposed to significant interest rate, currency
exchange rate or credit rate risk arising from these financial instruments.
Director
Under the standards for recognition and measuring financial instruments, all financial assets are
classified into one of the following four categories: Director held for trading, held to maturity, loans and
receivables or available for sale. All financial liabilities are classified into one of the following two
categories: held for trading or other financial liabilities. The organizations financial assets and
financial liabilities are classified and measured as follows:
ASSET/LIABILITY CATEGORY MEASUREMENT
Cash Held for trading Fair values
Accounts receivable Loans and receivables Amortized cost
HST receivable Loans and receivables Amortized cost
Accounts payable and
accrued liabilities Other financial liabilities Amortized cost
Payroll source deductions Other financial liabilities Amortized cost
The fair value of cash approximates its carrying values due to the nature or capacity for prompt
liquidation.
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DIVER CERTIFICATION BOARD OF CANADA
STATEMENT OF FINANCIAL POSITION
20142016 Annual Annual Report Report
DECEMBER 31 2016 2015
Table of Contents
DIVER ASSETS CERTIFICATION BOARD OF CANADA
Who We Are 3
NOTES CURRENT TO FINANCIAL ASSETS STATEMENTS
International
Cash
Recognition
$ 320,506
3
$ 299,606
DECEMBER Our Accounts Vision 31, receivable 2016
41,949 3 45,582
HST receivable 6,963 6,777
Our Prepaid Mission expenses 28,460 3 13,860
4. Our FINANCIAL Inventory Board of INSTRUMENTS Directors (Continued)
7,875 3 14,531
Credit What Risk We Do $ 405,753 4 $ 380,356
Message from the Chairman 5
Credit LIABILITIES risk is the risk that one party to a financial instrument will cause a financial loss for the other
party Message by failing from the to CEO discharge an obligation. Financial instruments that potentially subject 6 the
company CURRENT to concentrations LIABILITIES of credit risk consist of cash and accounts receivable. The organization
Auditor’s Report 7
deposits Accounts its cash payable in reputable and accrued financial liabilities institutions and therefore believes $ 10,489 the risk of loss $ to 10,319 be
remote. Financial Deferred The Statements revenue organization is exposed to credit risk from accounts receivable. 19,896 The organization
8 27,380
believes Payroll this source credit deductions risk is minimized as the organization has a large and diverse 4,624 customer base. 5,448 A
provision
Notes to
for
Financial
impairment
Statements
of accounts receivable is established when there is objective evidence
11
that
the 2017 organization Canadian Underwater will not be able Conference to collect and all amounts Exhibition due.
35,009 43,147
15
Liquidity risk
COMMITMENTS (Note 6)
Liquidity risk is the risk that the organization will encounter difficulty in meeting obligations
associated NET ASSETS with financial liabilities.
The entity is exposed to the risk mainly in respect of its accounts
payable. The organization generates enough cash from operation activities to fund operations and
fulfil obligations as they become due. Sufficient financing facilities are in place should cash
requirements UNRESTRICTED exceed cash generated from operations.
370,744 337,209
5. OPERATING GRANTS
$ 405,753 $ 380,356
2016 2015
Canada-Nova Scotia Offshore Petroleum Board $ 10,000 $ 10,000
Canada-Newfoundland Approved by the Directors: and Labrador Offshore Petroleum Board 10,000 10,000
Members of the Canadian Association of Petroleum Produces
Exxon Mobil Canada Ltd. Director
4,000 4,000
Suncor Energy Inc. 4,000 4,000
Encana Corporation Director
4,000 4,000
Husky Energy Inc. 4,000 4,000
Hibernia Management and Development Company Ltd. 4,000 4,000
40,000 40,000
Prior year grant collected and (uncollected)
Encana Coporation (4,000) (4,000)
$ 36,000 $ 36,000
2
13

DIVER CERTIFICATION BOARD OF CANADA
STATEMENT OF FINANCIAL POSITION
20142016 Annual Annual Report Report
DECEMBER 31 2016 2015
Table of Contents
DIVER ASSETS CERTIFICATION BOARD OF CANADA
Who We Are 3
NOTES CURRENT TO FINANCIAL ASSETS STATEMENTS
International
Cash
Recognition
$ 320,506
3
$ 299,606
DECEMBER Our Accounts Vision 31, receivable 2016
41,949 3 45,582
HST receivable 6,963 6,777
Our Prepaid Mission expenses 28,460 3 13,860
6. Our COMMITMENTS
Inventory Board of Directors 7,875 3 14,531
What We Do $ 405,753 4 $ 380,356
The Board has entered into a contract for the lease of its premises until 2018 at an annual lease rate
of Message $14,568. LIABILITIES
from the Chairman 5
Message from the CEO 6
CURRENT LIABILITIES
7.
Auditor’s
CAPITAL Accounts
Report
RISK payable MANAGEMENT
and accrued liabilities $ 10,489
7
$ 10,319
Financial Deferred Statements revenue 19,896 8 27,380
The Payroll Board's source objective deductions when managing capital is to ensure sufficient liquidity to 4,624 support its financial 5,448
Notes to Financial Statements 11
obligations and to conduct operations and execute strategic plans in the best
35,009
interest and support
43,147
of 2017 its members Canadian and Underwater causes. Conference and Exhibition 15
The COMMITMENTS Boards objectives (Note are met 6) by maintaining adequate funds to guard against the possibility that
cash flows from its fees revenues
and grants will not be sufficient to meet future cash flow
requirements. NET ASSETSIn addition, the
Board actively monitors its capital structure and to make necessary
adjustments as a result to changes in economic conditions.
UNRESTRICTED 370,744 337,209
The Board's capital structure consists of unrestricted net assets. As at December 31, 2016, the
Board's unrestricted net assets were $372,850 (2015 $337,209).
$ 405,753 $ 380,356
Approved by the Directors:
Director
Director
2
14

20142016 Annual Annual Report Report
2016 Annual Report
Table of Contents
Join us in Vancouver, BC for the
Who We Are 3
10 th Annual Canadian Underwater Conference & Exhibition
International Recognition 3
Our Vision 3
Our Mission 3
Our Board of Directors 3
What We Do 4
Message from the Chairman 5
Message from the CEO 6
Auditor’s Report 7
Financial Statements 8
Notes to Financial Statements 11
2017 Canadian Underwater Conference and Exhibition 15
15
2
15

2014 Annual Report