Hood & stikqng LLP.
Author | Francisco, San |
Independent Auditors' Report
COUNCIL OF THE CALIFORNIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS and BOARD OF TRUSTEES OF THE CALIFORNIA CERTIFIED PUBLIC ACCOUNTANTS EDUCATION FOUNDATION
San Mateo, California
Report on the Combined Financial Statements
We have audited the accompanying combined financial statements of California Society of Certified Public Accountants (Society) and California Certified Public Accountants Education Foundation (Foundation), which comprise the combined statements of financial position as of April 30, 2014 and 2013, and the related combined statements of activities, functional expenses, and cash flows for the years then ended, and the related notes to the financial statements.
Management's Responsibility for the Combined Financial Statements
Management is responsible for the preparation and fair presentation of these combined financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of combined financial statements that are free from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these combined financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the combined financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the combined financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the combined 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 combined 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. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting...
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