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HomeMy WebLinkAboutRang, Lloyd - Financial StatementsCit'Itat"10 Ministry ofMunicipal Affairs Financial Statement — V 6 ` and Housing Auditor's Report Candidate — Form 4 Municipal Elections Act, 1996 (Section 88,25) Instructions All candidates must complete Boxes A and B. Candidates who receive contributions or incur expenses must complete Boxes C. D, Schedule 1 and Schedule 2 as appropriate. Candidates who receive contributions or incur expenses in excess of $10,000 must also attach an Auditor's Report. All surplus funds (after any refund to the candidate or their spouse) shall be immediately paid to the clerk who is responsible for the conduct of the election. YYYY MM DD YYYY MM DD For the campaign period from (day clerk received nomination) [,2 0 2 2 1 0 6 1 0 7 1 to K2 0 2� 1 2 -5 �3 1) [Z] Initial filing reflecting finances from start of campaign to December 31 (or 45 days after voting day in a by-election) C7 Supplementary filing reflecting finances from start of campaign to end of extended campaign period Candidate's name as shown on the ballot Last Name or Single Name Given Names) Rang Lloyd Office for Which the Candidate Sought Election Ward Name or Number (if any) Municipal (Local) Councillor Ward 2 Municipality W` Clarington Spending Limit Contribution Limit General Parties and Other Expressions of Appreciation Contributions from Candidate and Spouse $25,495,20 $2,649,52 $9,882.40 I did not accept any contributions or incur any expenses. (Complete Boxes A and B only) i, Lloyd Rang declare that to the best of my knowledge and belief that these financial statements and attached supporting schedules are true and correct. Date Filed Initial or Agent 2023/03/28 Date (yyyyfmmtdd) 0503P 12022/04) 0 Queen's Printer fw Ontario. 2022 Disp wbie an frangais Page 1 of 7 LOAN Name of bank or recognized lending institution Amount borrowed INCOME Total amount of all contributions (froth line 1A in Schedule 1) + $ %653.22 Revenue from items $25 or less + $ Sign deposit refund + $ 250.00 Revenue from fundraising events not deemed a contribution (from Part III of Schedule 2) + $ Interest earned'by campaign bank account + $ ' Other (provide full details) 1, + $ 2. +$ 3. +$ 4. + $ 5. -- + $ Total Campaign income (Do not include loan) _ $ 19,903.22 C1 EXPENSES (Note: Include the value of contributions of goods and services) 1. Expenses subject to general spending limit inventory from previous campaign used in this campaign (list details in Table 2 of Schedule 1) + $ Advertising + $ 1,694,89 Brochures/flyers + $ 4,011.38 Signs (including sign deposit) + $ 4,358,68 Meetings hosted + $ Office expenses incurred until voting day + Phone and/or internet expenses incurred until voting day + $ Salaries, benefits, honoraria; professional fees incurred until voting day + $ _ Bank charges incurred until voting day + $ 129.63 Interest charged on loan until voting day + $ Other (provide full details} 1. Buttons + $ �s+ 90,40 2. Stanley St Consulting (Web Strategy) $ 4,329.65 3. T-Shirts +$ 496.07 4. 'We— sS to Hosting + Design + $ 1,695.00 5, Video + $ 1,075.00 6. Stripe Payment System + $ 661.54 Total Expenses subject to general spending limit = $ 18,642.24 C2 2. Expenses subject to spending limit for parties and other expressions of appreciation 1. Campaign Party + $ 515.49 0503P (2022104j Page 2 of 7 2, + $ 3. _+ $ 4. +$ 5, + $ Total Expenses subject to spending limit for parties and other expressions of appreciation -- $ 515.49 C3 3. Expenses not subject to spending limits Accounting and audit + $ Cost of fundraising events/activities (list details in Fart IV of Schedule 2) + $ Office expenses incurred after voting day + $ Phone and/or intereet expenses incurred after voting day + $ Salaries, benefits, nonorans, professional fees incurred after voting day + $' Bank charges incurred after voting day + $ 30.00 Interest charged on loan after voting day + $ Expenses related to recount + $ Expenses related to controverted election + $ Expenses related to compliance audit + $ Expenses related to candidate's disability (provide full details) 2.+,$ 3. + 4. + $ 5. +$ Ether (provide full details) 1 +$ 2. + $ 3. + $ 4: +$ 5: + $ Total Expanses not subject to spending limits - $ 30.00 : C4 Total Campaign Expenses (02 + C3 + Col - $ 19,087.73 C5 .$..,. Excess (deficiency) of income over expenses (income minus Total Expenses) (Cl — C5) + $ 815.49 D1 If there is a surplus, deduct any refund of candidate's or spouse's contributions to the campaign — $ Surplus (or deficit) for the campaign _ $ 816.49 D2 If line D2 shows a surplus, the amount must be paid in trust, at the time the financial statements are filed, to the municipal clerk who is responsible for the conduct of the election. 9603P (2022104) Page 3 of 7 t tiri<'„ t' 's•'tI Dart i - Summary of Contributions Contributions in money from candidate and spouse + $ Contributions in goods and services from candidate and spouse (include value listed in Tables and Table 2) + $ Total value of contributions not exceeding $100 per contributor Include ticket revenue, contributions in money, goods and services where the total contribution from a contributor is $100 or less (do not include contributions from candidate or spouse). + W Total value of contributions exceeding $100 per contributor (from line 18; list details in Table 3 and Table 4) • Include ticket revenue, contributions in money, goods and services where the total contribution from a contributor exceeds $100 $ 19,653.22 (do not include contributions from candidate or spouse). + Less: ineligible contributions paid or payable to the contributor — $ Contributions paid or payable to the clerk, including contributions from anonymous sources exceeding $25 $ Total Amount of Contributions (record under income in Box C) _ $ 19,663.22 1 A Part '11— Contributions from candidate or spouse Table 1: Contributions in goods or services CSM}tlan o. s ur erstices te�..f a;vied 171"100 t Additional information is listed on separate supplementary attachment, if completed manually. Table 2. Inventory of campaign goods and materials from previous municipal campaign used in this campaign (Note: Value must be recorded as a contribution from the candidate and as an expense.) Total (l Additional information is listed on separate supplementary attachment, if completed manually. part ill — Contributions exceeding $100 per contributor — individuals other than candidate or spouse Page 4 or 7 9603P (2022'04) Table 3: Monetary contributions from individuals other than candidate or spouse Full Addra>ss Date 1tew9ived, :, „Amount JAt tl l .4turnad (YYYY�mmZddj eive (6} to imia 'Ot'o ar Exhibit 1 19,653,22 Total 19,663.22 M Additional information is listed on separate supplementary attachment, if completed manually. Table 4: Contributions In goods or services from individuals other than candidate or spouse (Note: Must also be recorded as Expenses in Box C.) 'y(d�Eieseri tY ofd3cri( dd : a', �Z {YYVA Total Additional information is listed on separate supplementary attachment, if completed manually. Total for Part III — Contributions exceeding $100 per contributor 1 g,663.22`1g (Add totals from Table 3 and Table 4 and record the total In Part 1 - Summary of Contributions) 9$03P (202VO4) Page a of I ( !' in ,rn R[?{. S.71f,Ri§rc utk It a .�a�. ,.,,ta,v w�, �: > wry :aisxsurur. i` Complete a separate schedule for each event or activity held. [ Additional schedule($) attached, if completed manually. Fundraising Event/Activity 1 Description of fundraising eventlactivity Date of event/activity (yyyy(mm/dd) _ Part I — Ticket revenue Admission charge (per person) $ 2A (if there are a range of ticket prices, attach complete breakdown of all ticket sales) Number of tickets sold x _ - 28 Total Part 1(2A X 28) (include in Part l of Schedule 1) Part 11 - Other revenue deemed a contribution Provide details (e.g., revenue from goods sold in excess of fair market value) 1 +$ 2. �-- + $ -- 3. __ + $ 4. + $ 5. + $ Total Part It (include in Part I of Schedule t) Part tli — Other revenue not deemed a contribution Provide details (e.g,, contribution of $25 or less; goods or services sold for $25 or less) 1. + $ 2. + $ 3: + 4. } $ Total Part III (include under Income in Box C) Part 1V — Expenses related to fundraising event or activity Provide details 1'. 2. 3. 4, 5. Total Part IV Expenses (include under Expenses in Box C) Page.. a of 7 9603P (2022/04) A candidate who has received contributions or incurred expenses in excess of $10,000 must attach an auditor's report. Professional Designation of Auditor Chartered Professional Accountant Markham _ March 28, 202-� Contact Information Last Name or Single Name Given Name(s) j Licence Number Albert Peter 3-3190699 Address Suite/Unit Number Street Number Street Name 300 60 Columbia Way Municipality Province Postal Code Markham Ontario TL3R 6C9 905-946-1066 PEAibert@bdo.ca The report must be done in accordance with generally accepted auditing standards and must: set out the scope of the examination provide an opinion as to the completeness and accuracy of the financial statement and whether it is free of material misstatement Report is attached Personal information, if any, collected on this form is obtained under the authority of sections 8825 and 95 of the Municipal Elections Act, 1996. Under section 88 of the Municipal Elections Act,1996 (and despite anything in the Municipal Freedom of information and Protection of privacy Act) documents and materials filed with or prepared by the clerk or any other election official under the Municipal Elections Act, 1996 are public records and, until their destruction, may be inspected by any person at the clerk's office at a time when the office is open. Campaign financial statements shall also be made available by the clerk in an electronic format free of charge upon request. 9503P (2022/04) Page 7 of 7 Exhibit I Name Full Address Date Received Amount Received Bob Lopinski 2212 Stillmeadow Rd, Mississauga, ON 1513 1X4 2022-07-18 $500.00 Ferdinando Longo 15 Barrington PI, Courtice, ON LIE 2K9 2022-07-18 $300.00 Sushil Tailor 40 Adrian Gres, Brampton, ON L6X 5M6 2022-07-18 $250.00 Aashish Oberoi 36 Topbank Dr, Etobicoke, ON M9W 7C2 2022-07-18 $100.00 Daniel Moulton 508-160 Baldwin St, Toronto, ON M5T 3K7 2022-07-18 $100.00 Chris Drew 1305-95 Lombard St, Toronto, ON M5C 2V3 2022-07-18 $50.00 Brian Rutherford 173 Celina St, Oshawa, ON L1 H 4N3 2022-07-18 $1.00 Lise Jolicoeur 31 Diver Bait Dr, Picton, ON KOK 2TO 2022-07-19 $250.00 Daniel Gatto 136 Albany Ave, Toronto, ON M5R 3C4 2022-07.19 $50.00 Will Hunter 25 Seymour Ave, Toronto, ON M4J 3T3 2022.07.21 $20.22 Priscilla Nykolialion 1177 Whiteoaks Ave, Mississauga, ON L5J 3136 2022-07-22 $50.00 Salvatore Spadafora 54 Poplar Plains Rd, Toronto, ON M4V 2M8 2022-07-22 $50.00 Christine McMillan 149 Glebe Ave, Ottawa, ON K1S 2C4 2022-07-24 $50.00 Kimberly Maxwell 127 Nelson St, Bowmanville, ON L1C OA7 2022-07-26 $100.00 David Innes IA Darwin Rd, Toronto, ON M5N 2N9 2022-08-02 $100.00 Paul McGary 680 Aruba Gres, Oshawa, ON LU 6136 2022-08-02 $50.00 David Israelson 273 Hunter Rd, Niagara -on -the -Lake, ON LOS 1,10 2022-08-08 $100.00 Matt Maychak 131-2320 Gerrard St E, Toronto, ON M4E 2E1 2022-08-11 $200.00 Mandy Moore 299 Indian Rd, Toronto, ON M6R 2X5 2022-08-27 $200.00 Aaron Freeman 108 Galley Ave, Toronto, ON M6R 1H1 2022-08-28 $100.00 Kevin Kirkpatrick 39 Millburn Dr, Bowmanville, ON UC 51-6 2022-08-29 $200.00 Bradley Whittle 57 Duke St, Bowmanville, ON UC 2V4 2022-08-30 $250.00 Charles Sousa 984 Silver Birch Trail, Mississauga, ON L5J 4S3 2022-09-06 $200.00 William Humber 15 Beech Ave, Bowmanville, ON L1C 3A1 2022-09-06 $100.00 Jonathan Leigh 5 % Cassels Ave, Toronto, ON M4E 1X9 2022.09.06 $100.00 Siva Vimalachandran 355 Sparrow Cir, Pickering, ON L1V 7E6 2022-09-06 $100.00 Tim Kocur 2508-33 Bay St, Toronto, ON M5J 2Z3 2022-09-06 $100.00 Gathyayini Manoharan 86 Bridgeport Dr, Toronto, ON M1C 5E9 2022-09-06 $100.00 Meera Rai Govindaraj 14 Ambleside Gres, Markham, ON L3R 7T1 2022-09-06 $100.00 Kira Raybould 309 Gainsborough Rd, Toronto, ON M4L 3C8 2022-09-06 $60.00 Robert Rotenberg 144 King St E, Toronto, ON M5C 1G8 2022-09-06 $50.00 Linda Jansma 69 King Lane, Hampton, ON LOB 1J0 2022-09-06 $50.00 Steevan Sritharan 207-56 Maitland St, Toronto, ON M1P 5H5 2022-09-06 $50.00 Robert Cerjanec 30 Murellen Gres, Toronto, ON M4A 2K5 2022-09-06 $25.00 Adrian Foster 2 Found Crt, Courtice, ON L1 E 2V2 2022-09-07 $500.00 Ana Bail5o 9 Southview Ave, Toronto, ON M6H 1T3 2022-09-07 $200.00 Vadivelu Santhakumar 5560 Mcadam Rd, Mississauga, ON L4Z 1 P1 2022-09-07 $200.00 Anne Marie Aikins 1014-170 Bayview Ave, Toronto, ON M5A OM4 2022-09-07 $100.00 Asquith Allen 3-16 Arrowsmith Ave, Toronto, ON M6M 2W7 2022-09-08 $600.00 Will Hunter 25 Seymour Ave, Toronto, ON MU 3T3 2022-09-08 $26.00 Monique Smith 154 Wasi Falls Rd, Callander, ON POH 1HO 2022-09-09 $150.00 Omar Khan 42 Knoliview Cres, Toronto, ON M2K 2E2 2022-09-09 $100.00 Tanya Coyle 885 Whitney Dr, Mississauga, ON L4Y 1E6 2022-09-09 $100.00 Nick Brown 92 Pead St N, Hamilton, ON L8R 2Z3 2022-09-09 $50.00 Eric Brouwer 637 Willard Ave, York, ON M6S 3S1 2022.09-10 $200.00 Cameron Summers 27 Balsdon Gres, Whitby, ON LIP 11-5 2022-09-11 $250.00 Linga Easwaran 99 Woodriver St, Richmond Hill, ON L4S 1,18 2022-09-12 $100.00 Louis Tsilivis 8-19 Tennis Gres, Toronto, ON M4K 1J4 2022-09-12 $80.00 Denise Lam 2710-21 Iceboat Terr, Toronto, ON M5V 4A9 2022-09-13 $50.00 Virkrem Khumna 313-9140 Leslie St, Toronto, ON M5V 2Y1 M22-09-14 $1,000.00 Rajaralnam Ravikaran 823 Envoy Dr, Mississauga, ON L5W 1H3 2022-09-14 $1,000.00 Roger Bouma 127 Riverside Or S, Oshawa, ON UH 6P7 2022-09-14 $250.00 Deb Matthews 23 Gibson Ave, Toronto. ON M5R 1 T4 2022-09-14 $200.00 Richard Francella 803-155ousa Mantles SLTcronto,ON M6POA9 2022-09-14 $100.00 Brad Jakobsen 135 Nelson St, Bowmanville, ON UG OA7 2022-09-14 $100.00 Coralis D'Souza 1-421 Shaw St, Toronto, ON M6J 2X4 2022-09-14 $50.00 Patricia Favre 301-300 Coxwell Ave, Toronto, ON M4L 3B6 202MI)A4 $50.00 Yvonne Leung 23 Mallory Ave, Markham, ON OR 6137 2022-09-14 $50.00 Alia Hussain 290310 Hardison Garden Blvd, Toronto, ON M2N 7E2 2022-09-14 $50.00 Ammie Persaud 8" Liverpool Rd, Pickering, ON L- W 1S4 2022-09-14 $50.00 Gord Wallace 9 Chester Lane Newcastle, ON L1B 1ES 2022-09-15 $200.00 Fahim KadeMina 31 Diverbelt, Picton, ON KOK 2TO 2022-09-15 $200.00 Dale Mellor 88 Nelson St, Bowmanville, ON L1C OA6 2022-09-15 $150.00 Thusianthan Sivasubramaniam 176 Russell Jarvis Or, Markham, ON L3S 4EB 2022-09-15 $100.00 Abinaya Chandrabalan 7 Lynn Gale Cres, Scarborough, ON MIT 2E1 2022-09-15 $100.00 Ramanathan Lambotharan 89 Red Ash Dr, Markham, ON L3S 412 2022-09-16 $1,200.00 Gail Nyberg 19 Sunset Rd, Boxmanville, ON L1C 2E5 2022-09-16 $200.00 Jordan Rey 901 Bay St, Toronto, ON M5S 3G2 2022-0B-17 $260.00 Leslie O'Leary 1014 Royal York Rd, Toronto, ON MBX 2G4 2022-09-17 $150.00 Farnaz Petal 4 Hisccck Blvd Toronto, ON M1G 1S4 2022-09-17 $50.00 Tonya Salomons 2044B75 Dundas St W, Etobkdce, ON M9A 1B3 2022-09-17 $20.00 Brinda Mahendra 42 Valley Stream Dr, Scarborough, ON M1V 2A5 2022-09-18 $50.00 John Wildeboer 153 Spoil Cres, Bowa ile, ON Ll0 5H4 2022-09-18 $50.00 Chris Drew 1305-95 Lombard St, Taranto, ON M5C 2V3 2022-09-18 $25.00 Terrence Liu 14 Cdlahie Sp Toronto, ON M6J 1T7 2022-09-19 $500.00 Chris Morey 76 Belvedere Blvd, Toronto, ON MBX 1K4 2022-09-19 $Wairn Shaven Kerr 95 Haddington Ave, Toronto, ON MSN 2" 2022-09.19 $250,00 Sureahkurrer Kanapalhipillai 4 Bellahaven Gras, Scarborough, ON M1M 11-13 2022-09-20 $1,000.00 Armremgan Balasingam 4Parsonage Dr, Scarborough, Onl M1 B 4,17 2022-09-20 $1,000.00 Shannon Currie 209470 Mortimer Ave, Toronto, ON MU 2G5 2022-09-20 $75.00 Susan Mach 27 Weller Ave, Toronto, ON M6S 1Bit 2022-09-22 $250,00 Heart Sivalingam 72The Meadows AVe,Markham,ON L6B1B6 2022-09-23 $500,00 Kevin Leung 34 Randolph Rd, East York, ON M4G 3R7 202249.24 $150.00 Robert Campbell 6 Roseha kith Ave, Toronlc, ON M4C 3P2 2022-09.24 $100.00 Erin Ramsay 24Akrad Shrubb Lana, Bowmanwlla, ON L1C DB2 2M2 9-0 25 $200.00 Subangi Sivalhasan 19 Reginald Lamb Gres, Markham, ON L68 034 2022-0&25 $5000 Matthew Baker 101 Douglas Ave, Toronto, ON M5M 1G7 2022-09.26 $500 00 Niranlan Ni 3347 Joan Dr, Mississauga, ON L58 111-3 2022-09-27 $10000 Jeremy Millard 544 Spedha Case, Taonta, ON M5S 2J9 2022-10-01 $10000 Bernard Laxrenoe 755 Cusses Ave, London, ON N5W 3117 2022-10-03 $50.00 Jennifer MCKelvie 7 Dslbsabice Cres, Toronto, ON MIC 3G5 2022-10.04 $250.00 Katherine Festeryga 130S55 Charles St W, Toronto, ON M5S 2W9 2022-10.04 $100.00 Arun Rodrigo 625 MCRObBdB Ave, Toronto, ON MISE 4R5 2022-101 $10C.00 Adrian Short 67 Temperance St. Saxmanvilla, ON UC 3B1 W22-10-M $25.00 Gerald Butts 134 Cowley Ave, Ottawa, ON MY 0G6 2022AID-05 $250.00 Dalton MCGuinly 2022-10-05 $200.00 Aaron Dobbin 38 Poacher SI, Toronto, ON M4J 2Y9 2022-10-05 $5000 Chris Chdstodoulou 13 Summi old On, Bowmanvilla, ON LlC 2E8 2022-10-05 $50.00 Rob Newman 1-1002 Avenue Rd, Toronto, ON M5P 2K8 2022-10-05 550.00 Sharon Bonnycae9e 96 West Side Dr, Bowmanville, ON UC 4Y9 2022-10-05 $20.00 Ted Watson 1385 Maple Grove Rd, Bowmanvile, ON LlG 6109 2022-10-06 $100.00 Leslie Motz Will Hunter Mary -Margaret McMahon Vincent Gasparro Isaac Ransom Sheamus Murphy 92 Dorset Dr, Brampton, ON L6T 2Y9 25 Seymour Ave, Toronto, ON MU 3T3 34 Keystone Ave, Toronto, ON M4C 1 H1 85 Mcgillivray Ave, Toronto, ON M5M 2Y5 2 Trott Lane, Ajax, ON US 7N2 19 Denewood Cres, Ottawa, ON K2E 7G4 2022-10-09 $250.00 2022-10-13 $26.00 2022-10-15 $50.00 2022-10-17 $250.00 2022-10-18 $100.00 2022-10-19 $200.00 $19,653.22 BOO LLP f"� Fa : 905 946 9524 60 C Canada Wa ■V] Fax: 905 946 9524 bU Columbia Way, Suite 300 www.bdo.ca Markham ON UR OC9 Canada Independent Auditor's Report To Lloyd Rang: Qualified Opinion We have audited the Financial Statement - Auditor's Report Candidate - Form 4 (the Financial Statement) of Lloyd Rang (the Candidate), which includes Schedule 1 - Contributions and Schedule 2 - Fundraising Events and Activities for the period from June 7, 2022 to December 25, 2022 (relating to the election held on October 24, 2022), and other explanatory information. In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the accompanying Financial Statement of the Candidate for the period from June 7, 2022 to December 25, 2022 (relating to the election held on October 24, 2022) is prepared, in all material respects, in accordance with Section 88.25 of the Municipal Elections Act, 1996 (the Act). Basis for Qualified Opinion Due to the nature of the types of transactions inherent in an election campaign, the completeness of donations of goods and services and receipts and disbursements is not susceptible to satisfactory audit verification. Accordingly, our verification of these transactions was limited to the amounts recorded in the accounting records of the Candidate. Therefore, we were not able to determine whether any adjustments might be necessary to income and expenses and surplus / deficit. 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 Statement section of our report. We are independent of the Candidate in accordance with the ethical requirements that are relevant to our audit of the Financial Statement 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 qualified opinion. Emphasis of Matter - Basis of Accounting The Financial Statement is prepared to assist the Candidate to meet the requirements of the Act referred to above. As a result, the Financial Statement may not be suitable for another purpose. Our opinion is not modified in respect of this matter. Responsibilities of the Candidate for the Financial Statement The Candidate is responsible for the preparation of the Financial Statement in accordance with the Act, and for such internal control as the Candidate determines is necessary to enable the preparation of the Financial Statement that are free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statement Our objectives are to obtain reasonable assurance about whether the Financial Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditors 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 Statement. BDO Canada LLP, a Canadian limited iiabi!ity P rtee4q,, is s member of RDO here .XIIIW Limited. a UK Compa hn ited by g:arantec. and forms part cf the in:c•mationat EDO network of indepenieet memb_r firns, JBDO Independent Auditor's Report (continued) 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 Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit 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 Candidate's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates, if any, and related disclosures made by the Candidate. We communicate with the Candidate regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Chartered Professional Accountants, Licensed Public Accountants Markham, Ontario March 28, 2023