To the Board of Directors ETC Group: action group on erosion, technology and concentration
We have audited the statement of financial position of ETC Group: action group on erosion, technology and concentration as at August 31, 2008 and the statements of operations, changes in net assets and cash flows for the year then ended. These financial statements are the responsibility of thé Organization's management. Our responsibility is to express an opinion on these financial statements based on our audit.
Except as explained in thé following paragraph, 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 aiso includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.