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To the Board of Directors of Manitoba Public Insurance Corporation:
We have audited the balance sheet of Manitoba Public
Insurance Corporation as at February 29, 2008
and the statements of operations, retained earnings,
comprehensive income (loss), accumulated other
comprehensive income and cash flows for the year then
ended. These financial statements are the responsibility
of the corporation’s management. Our responsibility is to
express an opinion on these financial statements based
on our audit.
We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance 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 management, as well as evaluating the overall financial statement presentation.
In our opinion, these financial statements present fairly, in all material respects, the financial position of the corporation as at February 29, 2008 and the results of its operations and its cash flows for the year then ended in accordance with Canadian generally accepted accounting principles.
Chartered Accountants
Winnipeg, Canada
April 26, 2007 |
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To the Board of Directors of Manitoba Public Insurance Corporation:
I have valued the policy liabilities of Manitoba Public Insurance Corporation for its balance sheet at February 29, 2008 and their change in the statement of operations for the year then ended in accordance with accepted actuarial practice, including selection of appropriate assumptions and methods.
In my opinion, the amount of policy liabilities makes appropriate provision for all policyholder obligations and the financial statements fairly present the results of the valuation.
James K. Christie
Fellow, Canadian Institute of Actuaries
Winnipeg, Manitoba
April 26, 2007 |
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