The Audit Conclusion and Financial Reports on the Financial Assets of Armenian Young Lawyers Association for 2006

 

We have audited the accompanying balance sheet of the “Armenian Young Lawyers Association” Non-Governmental Organization as of December 31, 2006, and the related statements of financial results and cash flows for the year then ended as well as the accuracy of expenditures of the project “Development of the Mechanisms of Human Rights Protection and Legal Competence in Armenia” on the cash basis for the period of 01.01.2007-30.06.2007 from the Donor’s viewpoint. These financial statements are the responsibility of the “Armenian Young Lawyers Association” Non-Governmental Organization’s Management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with International Standards on Audit and professional practice. Those standards require that we plan and perform the audit to obtain reasonable assurance as to 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 also includes assessing the accounting principles used and significant estimates made by the Organization Management, as well as evaluating the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion.

AUDITOR’S OPINION ON THE FINANCIAL REPORTS

In our opinion, the financial statements of the “Armenian Young Lawyers Association” non-governmental organization present fairly, in all material respects, the financial position of the organisation as of 31 December 2006, and the results of its operations and cash flows for the year then ended; the accounting is conducted in conformity with the requirements of the RA Law “On Accounting”.

 

BALANCE SHEET
31 December 2006