Finances

REPORT OF THE AUDITORS TO THE MEMBERS

We have audited the accompanying balance sheet as at 31 December 2007, and the income and expenditure statement for the year then ended.  These financial statements are the responsibility of the Association’s committee. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the Singapore Standards on Auditing.  Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation.  We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements are properly drawn up in accordance with the Singapore Financial Reporting Standards so as to give a true and fair view of the state of affairs of Transient Workers Count as at 31 December 2007 and of the income and expenditure of Transient Workers Count for the year ended on that date.