Crowsnest Centre's Auditors Report

Back in April we received a prelimary report that told us the Centre would lose some where in the range of $64,000, last week we were finally presented the official report from the Auditor's, two concerns first of all the approximatly $64,000 as now grown to $91,000 and change. Second concern read the letter from the Auditor please determine for yourself how much comfort you receive from a statement like this below.


Young Parkyn McNab LLP
CHARTERED ACCOUNTANTS

AUDITORS' REPORT

To: The Board of Directors of
Crowsnest Leaming Centre Society

We have audited the statement of financial position of Crowsnest Leaming Centre Society as at December 31, 2007 and the statements of operations, changes in net assets and cash flows for the year then ended. These financial statements are the responsibility of the Society's management. Our responsibility is to express an opinion on these financial statements based on our audit.
Except as noted in the 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.

For a significant portion of the year the accounting records of the Society were not sdequate to support the recorded revenues and expenditures. Also, our examination indicated deficiencies in internal controls over certain revenues and expenditures. As a consequence, we were unable to satisfy ourselves that all revenues and expenditures of the Society had been recorded nor were we able to satisfy ourselves that the recorded transactions were proper. As a result, we were unable to determine whether adjustments were required in respect of recorded or unrecorded assets, revenue, net assets and cash flows.

In view of the possible material effects on the financial statements of the matters described in the preceding paragraph, we are unable to express an opinion whether these financial statements are presented fairly in accordance with Canadian generally accepted accounting principles.



Lethbridge, Alberta

March 26, 2008

Chartered Accountants