Audit Report 2021

Every year, the Waterloo Undergraduate Student Association contracts an independent auditor to perform an audit on its financial statements to ensure that they are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements, including the assessment of the risks of material misstatement. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.