Report of the independent auditors on the summary financial statements
To the Policyholders of LS Mutual Management
Opinion
The summary consolidated financial statements of LS Mutual Management (the "Entity"), whichcomprise:
- the summary consolidated financial position as at December 31, 2020
- the summary consolidated statement of earnings for the year then ended
- the summary consolidated statement of comprehensive income for the year then ended
- the summary consolidated statement of changes in equity for the year then ended
- the summary consolidated statement of and cash flows for the year then ended
- and related notes to the consolidated financial statements
are derived from the audited consolidated financial statements of LS Mutual Management as at and for the year ended December 31, 2020 (audited financial statements).
In our opinion, the accompanying summary financial statements are consistent, in all material respects, with the audited financial statements, in accordance with the criteria disclosed in Note 1 in the summary financial statements.
Summary Financial Statements
The summary financial statements do not contain all the disclosures required by International Financial Reporting Standards (IFRS). Reading the summary financial statements and the auditor's report thereon, therefore, is not a substitute for reading the Entity’s audited financial statements and the auditor's report thereon.
The summary financial statements and the audited financial statements do not reflect the effects of events that occurred subsequent to the date of our report on the audited financial statements.
The Audited Financial Statements and Our Report Thereon
On our report dated February 24, 2021, we included an Other Matter paragraph referring to the report of the predecessor auditor for the information presented for the year ended December 31, 2019.
Management’s Responsibility for the Summary Financial Statements
Management is responsible for the preparation of the summary financial statements in accordance with the criteria disclosed in Note 1 in the summary financial statements.
Auditors’ Responsibility
Our responsibility is to express an opinion on whether the summary financial statements are consistent, in all material respects, the audited financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standards 810, Engagements to Report on Summary Financial Statements.
Other Matter - Comparative Information
The summary financial statements for the year ended December 31, 2019, were reported on by another auditor who expressed an unmodified opinion on those summary financial statements of February 25, 2020.
1 KPMG LLP