Page 73 - Operation Lifesaver Estonia / Annual Report 2012

71
Operation Lifesaver Estonia Annual Report 2012
To the Management Board of non-profit organisation
“Operation Lifesaver Estonia”
We have audited the annual financial statements of
non-profit organisation Operation Lifesaver Estonia that
contains the balance sheet as of 31 December 2012,
income statement, statement on changes in equity and
cash flow statement for the financial year ended on
the above date, a summary of the accounting principles
applied for preparing the annual financial statements
and other explanatory notes. The audited annual financial
statements on pages 4 to 12 have been appended to this
report
Management Board’s obligations regarding the annual
financial statements
The obligation of the Management Board is to prepare
the annual financial statements and their correct and
timely presentation in accordance with the requirements
of the Estonian Good Accounting Practices. This obligation
includes the establishment and maintaining of an
appropriate internal audit system that ensures the correct
preparation and presenting of annual financial statements
without any material deviations caused by fraud or errors,
selection and application of appropriate accounting
principles and making justified accounting decisions.
Sworn auditor’s obligation
We are obliged to express our opinion regarding the
annual financial statements based on the audit. We have
conducted the audit in accordance with the International
Financial Accounting Standards (Estonia) that requires our
compliance with the ethical requirements and we plan and
conduct the audit so that we can get justified assurance
that the annual financial statements contain no material
misrepresentations.
The audit comprises conducting procedures with the
objective to get evidence about the financial indicators and
information published in the annual financial statements.
The amount and content of such procedures depend on
the decision of the sworn auditor, including the evaluation
of risks that the annual financial statements may contain
material misinterpretations caused by fraud or errors. In
making such risk assessment, a sworn auditor considers
the internal audit results that are relevant for preparing
and correct recording of the annual financial statements
of an economic unit in order to plan appropriate auditing
procedures but not for forming an opinion about the
results of the internal audit procedures of the economic
unit. The audit covers also the appropriateness of the
accounting principles used, justification of the accounting
assessments made by the Management Board and overall
presentation of the annual financial statements. We
believe that the evidence collected during the audit is
sufficient and relevant for expressing an opinion.
Opinion
We find that the annual financial statements appended
reflect in all their material parts fairly the financial
situation of non-profit organisation Operation Lifesaver
Estonia as of 31 December 2012, the results of the financial
year ended on that day and its cash flows in accordance
with the Estonian Good Accounting Practices.
Liili Kask
Sworn Auditor No. 206
Balti Audit OÜ
Activity license No. 148
Lootsi 11, Tallinn
Estonia
Annual Financial Statements
2012 2011
Wage and salary expense 33 869 31 272
Social security taxes 11 643 10 758
Other 3 0
Total labor expense 45 515 42 030
Average number of employees in full time equivalent
units 3 3
Labor expense
(In Euros)
Independent Auditor’s Report