CiDA_Financial Audit_2011

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GeorgianAudit&ConsultingComp;"t""
A CroweHorwathBusinessAllianceAssociate
INDEPENDENTAUDITORS'REPORT
Nameof Entity: CivilDevelopmentAgency
YearEnd:3!.L2.11,
To:ManagementoftheCivilDevelopmentAgency
Wehaveauditedtheattachedstatementof incomeandexpendituresby projectfor theyear
endedDecember37, 20LL [the financialreport). The financialrepoit i0t1 comprises
contributionsandexpensesfor theperiodfromJanuaryL,2077to December3L,2011.The
totalexpensesamountedto GEL599,780.ThetotalinstallmentsreceivedareGELTZg,7B0.
The financial report is the responsibilityof the Civil DevelopmentAgency. Our
responsibilityis to expressan opinion on the financialreport 2011 as requiredby the
InternationalStandardsonAuditing.
It is CIDA'sresponsibilityto manageandusethe fundsreceivedfrom the donorsaccording
to the agreementsbetweenthe donors and CIDA.Our responsibilityis to ensurethai
administrationof thedonorfundstakesplacein a satisfactorymannerandthatthe financial
reportingproperlyreflectstheproject.
We conductedour audit in accordancewith the InternationalStandardson Auditing.Our
reportis in accordancewith the auditingstandardISAB05"special
Considerations- Audits
of SingleFinancialStatementsand SpecificElements,Accountsor Items of a Financial
Statement".Generallyacceptedauditingstandardsrequirethat we plan and performthe
auditto obtainreasonableassuranceabout:
satisfactorysecuringdonor funds,includingassetsacquiredin accordancewith the
donation
Theauditincludes:
evaluationof the used accountingstandardstogetherwith an assessmentof the
contentsandpresentationofthe financialreport
to budget
we believethatourauditprovidesa reasonablebasisforouropinion.
Inouropinion:
accountinginformationrequiredby the InternationalStandardson Auditing,together
with satisfactorysecuringdonorfunds,includingassetsacquiredin accordancewith the
donation
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Palace,4thfloor,2 Gamrekelist.
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Tel.:(99532129o4s 22;Tet./Fax:(99532)2go4s 23:E-mait:gacc@caucasus.net