Hi, it is an audit report for an institute from public sector, hope it is useful. The red * represents the name of the institute which can't show up here for confidential purpose. Even it is only a part of the whole report, I believe it is a good reference.

-----------------------

Independent Auditor’s Report
To :*****

We have audited the accompanying consolidated balance sheets of ****** as of September 30, 2006 (fiscal year 2006) and 2005 (fiscal year 2005), and
the related consolidated statements of net cost, changes in net position, financing, and combined
statements of budgetary resources, and custodial activity for the years then ended (hereinafter
collectively referred to as the “consolidated financial statements”). These consolidated financial
statements are the responsibility of the ****’s management. Our responsibility is to express an
opinion on these consolidated financial statements based on our audits.

Except as explained in the following paragraph, we conducted our audits in accordance with
auditing standards generally accepted in the United States of America; the standards applicable
to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States; and Office of Management and Budget (OMB) Bulletin No. 06-03,
Audit Requirements for Federal Financial Statements. Those standards require that we plan and
perform our audit to obtain reasonable assurance about whether the consolidated financial
statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the consolidated financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statements’ presentation. We believe our
audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements for fiscal year 2006 present fairly, in all
material respects, the financial position of the **** as of September 30, 2006, and the related
statements of net costs, changes in net position, budgetary resources, custodial activity, and
reconciliation of net costs to budgetary obligations, for the year then ended, in conformity with
accounting principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued our reports dated
November 1, 2006 on our consideration of the ****’s internal control over financial reporting,
and on our tests of the ****’s compliance with certain provisions of laws and regulations and
other matters. The purpose of those reports is to describe the scope of our testing of internal
control over financial reporting and compliance and the results of that testing, and not to provide
an opinion on the internal control over financial reporting or on compliance. Those reports are
an integral part of our audit performed in accordance with Government Auditing Standards and
should be considered in assessing the results of our audit.

Our audits were made for the purpose of forming an opinion on the basic financial statements
taken as a whole. The Management Discussion and Analysis required supplementary
information and other accompanying information contain a wide range of data, some of which is
not directly related to the financial statements. We do not express an opinion on this
information. However, we compared this information for consistency with the financial
statements and discussed the methods of measurement and presentation with the ***** officials.
Based on this limited work, we found no material inconsistencies with the financial statements or
nonconformance with OMB guidance.

Signature

Date