Finances

REPORT OF THE AUDITORS TO MEMBERS

We have audited the accompanying the financial statements of Transient Workers Count Too,which comprise the statement of financial position as at 31 December 2009, and the statement of comprehensive income for the year ended, and a summary of significant accounting policies and other explanatory notes.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements. This responsibility includes:

(a) selecting and applying appropriate accounting policies; and

(b) making accounting estimates that are reasonable in circumstances.

Auditor's Responsibility

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 comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the 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 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates many by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion,

a) the financial statements have been drawn up in accordance with the provisions of The Association and so as to give a true and fair view of the state of affairs of the Association as at 31 December 2009 and of its results for the year ended on that date; and

b) the accounting records required by the Act to be kept by the Association have been properly kept in accordance with provisions of the said Act.

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