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REPORT OF INDEPENDENT AUDITORS – Continued <br /> <br /> <br />2 <br />preparation and fair presentation of consolidated financial statements that are free from material <br />misstatement, whether due to fraud or error. <br />In preparing the consolidated financial statements, management is required to evaluate whether there <br />are conditions or events, considered in the aggregate, that raise substantial doubt about the <br />Companies’ ability to continue as a going concern within one year after the date that the consolidated <br />financial statements are available to be issued. <br />Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements <br />Our objectives are to obtain reasonable assurance about whether the consolidated financial <br />statements as a whole are free from material misstatement, whether due to fraud or error, and to issue <br />an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is <br />not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with <br />generally accepted auditing standards will always detect a material misstatement when it exists. The <br />risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from <br />error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override <br />of internal control. Misstatements, including omissions, are considered material if there is a substantial <br />likelihood that, individually or in the aggregate, they would influence the judgment made by a <br />reasonable user based on the consolidated financial statements. <br />In performing an audit in accordance with generally accepted auditing standards, we: <br /> Exercise professional judgment and maintain professional skepticism throughout the audit. <br /> Identify and assess the risks of material misstatement of the consolidated financial statements, <br />whether due to fraud or error, and design and perform audit procedures responsive to those <br />risks. Such procedures include examining, on a test basis, evidence regarding the amounts <br />and disclosures in the consolidated financial statements. <br /> Obtain an understanding of internal control relevant to the audit in order to design audit <br />procedures that are appropriate in the circumstances, but not for the purpose of expressing <br />an opinion on the effectiveness of the Companies’ internal control. Accordingly, no such <br />opinion is expressed. <br /> Evaluate the appropriateness of accounting policies used and the reasonableness of significant <br />accounting estimates made by management, as well as evaluate the overall presentation of <br />the consolidated financial statements. <br /> Conclude whether, in our judgment, there are conditions or events, considered in the <br />aggregate, that raise substantial doubt about the Companies’ ability to continue as a going <br />concern for a reasonable period of time. <br />We are required to communicate with those charged with governance regarding, among other <br />matters, the planned scope and timing of the audit, significant audit findings, and certain internal <br />control related matters that we identified during the audit.