b'2019 AUDITED FINANCIAL STATEMENTSIndependent Auditors ReportKPMG LLPVaughan Metropolitan CentreTelephone:905-265-5900100 New Park Place, Suite 1400Fax: 905-265-6390 Vaughan ONL4K 0J3CanadaTo the Members of Electronic Products Recycling AssociationOpinionWe have audited the financial statements of Electronic Products Recycling Association (the Entity),which comprise:the statement of financial position as at December 31, 2019 the statement of operations for the year then ended the statement of changes in net assets for the year then ended the statement of cash flows for the year then ended and notes to the financial statements, including a summary of significant accounting policies(Hereinafter referred to as the financial statements).In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Entity as at December 31, 2019, and its results of operations and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organization. Basis for Opinion We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the Auditors Responsibilities for the Audit of the Financial Statements section of our auditors report. We are independent of the Entity in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forour opinion. Responsibilities of Management and Those Charged with Governance for theFinancial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with Canadian accounting standards for not-for-profit organizations, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Entitys ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Entitys financial reporting process. Cont. next page.20 EPRA ANNUAL REPORT 2019'