August 2013 Canadian Hereford Digest

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C A N A D I A N

H E R E F O R D

D I G E S T

Canadian Hereford Association Notes to the Financial Statements For the year ended December 31, 2012 Management’s Responsibility To the Members of Canadian Hereford Association: 0DQDJHPHQW LV UHVSRQVLEOH IRU WKH SUHSDUDWLRQ DQG SUHVHQWDWLRQ RI WKH DFFRPSDQ\LQJ ÀQDQFLDO VWDWHPHQWV LQFOXGLQJ UHVSRQVLELOLW\ IRU VLJQLÀFDQW DFFRXQWLQJ MXGJPHQWV DQG HVWLPDWHV LQ DFFRUGDQFH ZLWK &DQDGLDQ DFFRXQWLQJ VWDQGDUGV IRU QRW IRU SURÀW RUJDQL]DWLRQV 7KLV UHVSRQVLELOLW\ LQFOXGHV VHOHFWLQJ DSSURSULDWH DFFRXQWLQJ SULQFLSOHV DQG PHWKRGV DQG PDNLQJ GHFLVLRQV DIIHFWLQJ WKH PHDVXUHPHQW RI WUDQVDFWLRQV LQ ZKLFK REMHFWLYH MXGJPHQW LV UHTXLUHG ,Q GLVFKDUJLQJ LWV UHVSRQVLELOLWLHV IRU WKH LQWHJULW\ DQG IDLUQHVV RI WKH ÀQDQFLDO VWDWHPHQWV PDQDJHPHQW GHVLJQV DQG PDLQWDLQV WKH QHFHVVDU\ DFFRXQWLQJ V\VWHPV DQG UHODWHG LQWHUQDO FRQWUROV WR SURYLGH UHDVRQDEOH DVVXUDQFH WKDW WUDQVDFWLRQV DUH DXWKRUL]HG DVVHWV DUH VDIHJXDUGHG DQG ÀQDQFLDO UHFRUGV DUH SURSHUO\ PDLQWDLQHG WR SURYLGH UHOLDEOH LQIRUPDWLRQ IRU WKH SUHSDUDWLRQ RI ÀQDQFLDO VWDWHPHQWV 7KH %RDUG RI 'LUHFWRUV LV FRPSRVHG SULPDULO\ RI 'LUHFWRUV ZKR DUH QHLWKHU PDQDJHPHQW QRU HPSOR\HHV RI WKH 2UJDQL]DWLRQ 7KH %RDUG LV UHVSRQVLEOH IRU RYHUVHHLQJ PDQDJHPHQW LQ WKH SHUIRUPDQFH RI LWV ÀQDQFLDO UHSRUWLQJ UHVSRQVLELOLWLHV 7KH %RDUG IXOÀOV WKHVH UHVSRQVLELOLWLHV E\ UHYLHZLQJ WKH ÀQDQFLDO LQIRUPDWLRQ SUHSDUHG E\ PDQDJHPHQW DQG GLVFXVVLQJ UHOHYDQW PDWWHUV ZLWK PDQDJHPHQW DQG H[WHUQDO DFFRXQWDQWV 7KH %RDUG LV DOVR UHVSRQVLEOH IRU UHFRPPHQGLQJ WKH DSSRLQWPHQW RI WKH 2UJDQL]DWLRQҋV H[WHUQDO DFFRXQWDQWV 013 //3 LV DSSRLQWHG E\ WKH 0HPEHUV WR UHYLHZ WKH ÀQDQFLDO VWDWHPHQWV DQG UHSRUW GLUHFWO\ WR WKHP WKHLU UHSRUW IROORZV 7KH H[WHUQDO DFFRXQWDQWV KDYH IXOO DQG IUHH DFFHVV WR DQG PHHW SHULRGLFDOO\ DQG VHSDUDWHO\ ZLWK ERWK WKH %RDUG DQG PDQDJHPHQW WR GLVFXVV WKHLU UHYLHZ HQJDJHPHQW UHVXOWV -XO\ _____________________________________ General Manager

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