Playa del Carmen, Q. Roo., 27th of January 2014.
To: The General Assembly of
PENÍNSULA CHAC HAL AL, A.C.
The analysis and interpretation of the balance sheets of PENÍNSULA CHAC HAL AL ,A.C has been undertaken as of 31st December 2013 along with the balance of work and cash flow for the same period. It should be noted that the elaboration of the analyzed balance sheets is the sole responsibility of the administration of the condominium, as well as the veracity and authenticity of the supporting documentation provided by the administration.
The tests made were carried out in accordance with the generally accepted
Auditing Standards, consistent in the planning and realization of the audit in such a way as to be reasonable sure that the balance sheets do not contain important errors or omissions and were also elaborated in accordance with generally accepted Accounting Principles.
The audit was conducted on the basis of selective tests made on the supporting evidence provided for the balance sheets, including also the assessment of the financial Information Standards used and of any significant estimations made by the management. In summary, it is considered that our investigation provides a reasonable basis on which to support our opinion.
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1.- Administration records revenues when they are charged and not when earned. The amount of accounts receivable of condominium owners appearing on the financial information was not verified since there was no access to the account who compose it. In accordance with article 18 of the law on income tax, revenues are part of accounting when they accrue.
In our opinion, excepting that indicated in the above paragraph, the analyzed balance sheets reasonably demonstrate the financial position of PENÍNSULA CHAC HAL AL, A.C.as of the 31st of December 2013 and the results of its activity and cash flows for the year ending this date in accordance with the Financial Information Standards.
R & P
Consultores Asociados, S.C.
Patricio Pimienta Ríos