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We have audited the accompanying fnancial statements of Canada Foundation for Sustainable Development Technology, which comprise the statements of fnancial position as at December 31, 2012, December 31, 2011 and January 1, 2011, the statements of operations and cash fows for the years ended December 31, 2012, and December 31, 2011, and notes, comprising a summary of signifcant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these fnancial statements in accor-dance with Canadian public sector accounting standards, and for such internal control as management deter-mines is necessary to enable the preparation of fnancial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these fnancial statements based on our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the fnancial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fnancial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the fnancial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity’s preparation and fair presentation of the fnan-cial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the efectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the fnancial statements.

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

Opinion

In our opinion, the fnancial statements present fairly, in all material respects, the fnancial position of Canada Foundation for Sustainable Development Technology as at December 31, 2012, December 31, 2011 and January 1, 2011, and its results of operations and its cash fows for the years ended December 31, 2012 and December 31, 2011, in accordance with Canadian public sector accounting standards.

Chartered Accountants, Licensed Public Accountants April 24, 2013 Ottawa, Canada

SDTC 2012 Annual Report Financial Statements

To the Members of Canada Foundation for Sustainable Development Technology

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