Non-Consolidated Annual Report 2016

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED NON-CONSOLIDATED ANNUAL REPORT 2016 16 1 KPMG, a Barbados partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”) a Swiss entity. INDEPENDENT AUDITORS’ REPORT To the Members of Barbados Public Workers’ Co-operative Credit Union Limited We have audited the accompanying non-consolidated financial statements of Barbados Public Workers’ Co-operative Credit Union Limited (the “Credit Union”), which comprise the non-consolidated statement of financial position as of March 31, 2016, the non- consolidated statement of income, non-consolidated statement of comprehensive income, non-consolidated statement of changes in equity and the non-consolidated statement of cash flows for the year then ended, an d notes, comprising a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these non- consolidated financial statements in accordance with International Financial Reporting Standards and for such internal control as management determines is necessary to enable the preparation of non-consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these non-consolidated financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the non-consolidated financial statements are free from material misstatement. KPMG Hastings Christ Church, BB 15154 Barbados West Indies Telephone (246) 434-3900 Fax (246) 427-7123 P. O Box 690C Bridgetown, Barbados