E-1Financial Statements - Redacted
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Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Ca...
AI summary Management is responsible for preparing consolidated financial statements in accordance with Canadian not-for-profit accounting standards, ensuring internal controls, assessing going concern, and disclosing relevant matters. Those charged with governance oversee the financial reporting process.
Auditor's Responsibilities for the Audit of the Consolidated Financial Statements Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether...
AI summary The auditor's role is to provide reasonable assurance that consolidated financial statements are free from material misstatement due to fraud or error, adhering to Canadian GAAS. Key responsibilities include assessing risks, evaluating internal controls, accounting policies, and the going concern basis, while maintaining professional skepticism and judgment throughout the audit process.
Report on Other Legal and Regulatory Requirements We have audited the Corporation's compliance, as at December 31, 2024, with the cost allocation criteria established by the Efficiency Nova Scotia Cost Allocation Methodology Report as file...
AI summary An audit was conducted to assess the Corporation's compliance with the Efficiency Nova Scotia Cost Allocation Methodology Report, filed with the Nova Scotia Utility and Review Board. Management is responsible for compliance, while auditors are tasked with expressing an opinion on this compliance as of December 31, 2024.
1. NATURE OF OPERATIONS EfficiencyOne ("the Corporation") was incorporated in July 2014 under the Canada Not-for-profit Corporations Act. Under Section 79C of the Public Utilities Act, the Corporation, as the franchise holder, has the excl...
AI summary EfficiencyOne, a not-for-profit corporation incorporated under the Canada Not-for-profit Corporations Act, holds exclusive rights under the Public Utilities Act to provide demand-side management to Nova Scotia Power Inc. It manages endowment funds in trust for the Federation of Canadian Municipalities and Nova Scotia, with investment income attributable to contributors, resulting in no income tax provisions.
5. INVESTMENT IN EFFICIENCYONE SERVICES INC. (continued) On August 29, 2017 the NSUARB approved the Corporation's Code of Conduct ("the Code"). The Code governs transactions between the Corporation's electricity efficiency and conservation...
AI summary On August 29, 2017, the NSUARB approved the Corporation's Code of Conduct, which governs transactions between the Corporation's electricity efficiency and conservation activities (EECA) and its Affiliates.
General Index of Financial Information Notes to the financial statements
AI summary The General Index of Financial Information (GIFI) and notes to financial statements are part of Nova Scotia Power Inc.'s regulatory proceedings, outlining financial disclosures, compliance with auditing standards (GAAS), and international financial reporting standards (IFRS), under oversight by the Nova Scotia Utility and Review Board (NSUARB).
1(5)(b)] if the property was a depreciable property acquired by the transferor less than 364 days before the end of your tax year and continuously owned by the transferor until it was acquired by you.
AI summary The text outlines a tax regulation condition where a property is considered depreciable if acquired by the transferor less than 364 days before the tax year's end and continuously owned until transferred. This relates to rules governing the eligibility of assets for capital cost allowance calculations under Canadian tax law.
FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2024
AI summary The document presents financial information for NS Power for the year ended December 31, 2024, including compliance with GAAS and IFRS standards, tax filings (T2, T106, T5004, T5013, T661), and regulatory submissions. A placeholder image is referenced but lacks specific data.
2. SIGNIFICANT ACCOUNTING POLICIES
AI summary The section outlines significant accounting policies relevant to Nova Scotia Power Inc.'s regulatory proceedings, including references to GAAS, IFRS, and specific tax forms. It highlights policies related to cost allocation, depreciation, and tax compliance.