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Report of the Treasurer for the Year Ended December 31, 2011 (2012) / Chapter Skim
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Independent Auditor's Report--Letter from KMPG
Pages 41-41

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From page 41...
... An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
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Key Terms

  • cash flows
  • financial position
  • internal control
  • financial reporting
  • includes examining

  • designing audit
  • material respects
  • audit includes
  • obtain reasonable
  • statements based

  • test basis
  • overall financial
  • financial statement
  • audit procedures
  • significant estimates

  • delaware limited
  • evidence supporting
  • statements referred
  • reasonable assurance
  • includes consideration

  • net assets
  • statement presentation
  • material misstatement
  • limited liability
  • standards require

  • kpmg llp
  • accounting principles
  • accepted accounting
  • auditing standards
  • reasonable basis


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