Page 31 - Annual Report 2017

Grant Thornton

GrantThornton
Poinl Seraphine
March 28, 201 8 P.O.Box 195
Castries, Sl.lucia
West Indies
Independent Auditors' Report
T + 1 7584562600
F+175B4521061
To the Members of www.grantthornlon.le
Caribbean Electric Utility Services Corporation

Report on the financial statements
Opinion
We have audited the financial statements of Caribbean ElectrÎc Utility Services Corporation (the Company), which comprise the statement
of financÎal position as of December 31, 2017, and the statements of comprehensive incorne, changes in equity and cash flows for the year
then ended, and notes to the fi nancÎal statements, including a summary of significant ac(ounting policies.

ln our opinion, the accompanying financÎal statements present fairly, in ail material respects, the fi nancial position of the Company as at
December 31, 2017, and its financial perlormance and its cash flows for the year then ended in accordance with International Financial
Reporting Standards.

Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing. Our responsibilities under those standards are further
described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the
Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the Eastern Caribbean,
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management and Those Charged with Governance forthe Financial Statements
Management is responsible for the preparation and fai r presentation of the financial statements in accordance with International Financial
Reporting Standards, and for su ch internai control as management determines is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.

ln preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either
intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements are free trom material misstatement, whether
due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not
a guarantee that an audit conducted in accordance with International Standards on Auditing will always detect a material misstatement
when it exists.

Partners:
AnthonyAtkinson -Man.agili!) P~rtner
Richard Peterkin
RO$ilyn Novera Audit· Tv. ,Aclvi~ol}'
Malaika The(lbalds rA~mber ofGr;nt Thomlan tnlernil:l on~t LW