BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2016
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An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the non-consolidated financial statements. The procedures selected
depend on our judgment, including the assessment of the risks of material misstatement
of the non-consolidated financial 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 non-consolidated financial statements 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 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 non-consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.
Opinion
In our opinion, the non-consolidated financial statements present fairly, in all material
respects, the non-consolidated financial position of the Credit Union as of March 31,
2016 and its non-consolidated financial performance and its non-consolidated cash flows
for the year then ended in accordance with International Financial Reporting Standards.
Chartered Accountants
Bridgetown, Barbados
June 6, 2016
