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Vadnais Lake Area Water <br />Management Organization <br />Management Information <br />SAS 61 — Communication with Audit Committees <br />Statement of Auditing Standards No. 61, "Communication With Audit Committees," <br />requires the auditor to ensure that certain matters related to the conduct of an audit are <br />communicated to those who have responsibility for oversight of the financial reporting process. <br />The Vadnais Lake Area Water Management Organisation does not have a formal audit <br />committee. As such, we are communicating these matters to those who have oversight <br />responsibility for the fmancial reporting process. The following constitutes our communication <br />of such matters. <br />The Auditor's Responsibility under Auditing Standards Generally Accepted in the <br />United States of America <br />Our audit, conducted in accordance with auditing standards generally accepted in the <br />United States of America, is designed to provide reasonable, but not absolute, assurance about <br />whether the fmancial statements are free of material misstatement. These financial statements <br />are the responsibility of management and it is our responsibility to express an opinion on these <br />financial statements based on our audit results. <br />Significant Accounting Policies <br />There were no changes in significant accounting policies or their application during the <br />year audited. <br />5 <br />