Hiatus House Financial Statements - Year ended March 31, 2025 - Independent Auditor’s Report Summary

Aug 25, 2026

Uploaded by Ivy

Independent auditor’s report for Hiatus House covers the audited financial statements for the year ended March 31, 2025, including the statement of financial position, statement of operations, statement of changes in fund balances, statement of cash flows, and related notes with significant accounting policies. The auditors express an opinion that the statements fairly present the entity’s financial position, results of operations, and cash flows in accordance with Canadian accounting standards for not-for-profit organizations. The report describes the audit basis, auditor independence, and key responsibilities of management, those charged with governance, and the auditors, including risk assessment, internal control understanding, evaluation of accounting estimates, going concern considerations, and overall financial statement presentation.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages17

Reading Time43 min

AccessFree to download

Independent Auditor’s Report

Opinion

Basis of Opinion

Responsibilities of Management and Those Charged with Governance

Auditor’s Responsibilities for the Audit of the Financial Statements

HIATUS HOUSE Financial Statements Year ended March 31, 2025 KPMG LLP 618 Greenwood Centre 3200 Deziel Drive Windsor, ON N8W 5K8 Canada Telephone 519 251 3500 Fax 519 251 3530 INDEPENDENT AUDITOR’S REPORT To the Board of Directors of Hiatus House Opinion We have audited the financial statements of the Hiatus House (the Entity), which comprise: 􀁸 the statement of financial position as at March 31, 2025 􀁸 the statement of operations for the year then ended 􀁸 the statement of changes in fund balances for the year then ended 􀁸 the statement of cash flows for the year then ended 􀁸 and notes to the financial statements, including a summary of significant accounting policies (Hereinafter referred to as the “financial statements”) . In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Entity as at March 31, 2025 and its results of operations and its cash flows for the year then ended in accordance with Canadian accounting standards for notfor-profit organizations. Basis of Opinion We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the ''Auditor’s Responsibilities for the Audit of the Financial Statements'' section of our auditor’s report. We are independent of the Entity in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. KPMG LLP, an Ontario limited liability partnership and member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. KPMG Canada provides services to KPMG LLP. Page 2 Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with Canadian accounting standards for not-for-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. In preparing the financial statements, management is responsible for assessing the Entity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Those charged with Governance are responsible for overseeing the Entity's financial reporting process. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Canadian generally accepted auditing standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: 􀁸 Identify and assess the risks of material misstatement of the financial statements, whether due to fr

FAQs

What financial statements are included in the audit for Hiatus House for the year ended March 31, 2025?

The report covers the statement of financial position, statement of operations, statement of changes in fund balances, statement of cash flows, and the notes including a summary of significant accounting policies.

What is the audit opinion on the financial statements?

The auditors state that the financial statements present fairly, in all material respects, the entity’s financial position, results of operations, and cash flows for the year ended March 31, 2025 in accordance with Canadian accounting standards for not-for-profit organizations.

What are management’s key responsibilities described in the report?

Management is responsible for preparing and fairly presenting the financial statements, implementing internal control as needed, assessing the entity’s ability to continue as a going concern, and disclosing going-concern matters as applicable.

Aug 25, 2026

Uploaded by Ivy