Sun Life 2010 Annual Report Download - page 148

Report of Independent Registered Chartered Accountants
To the Shareholders and Board of Directors of Sun Life Financial Inc.
We have audited the accompanying Consolidated Financial Statements of Sun Life Financial Inc. and subsidiaries (the “Company”),
which comprise of the Consolidated Balance Sheets and the separate Consolidated Statements of Segregated Funds Net Assets as of
December 31, 2010 and 2009, and the Consolidated Statements of Operations, Equity, Comprehensive Income, Cash Flows and
Changes in Segregated Funds Net Assets for each of the three years in the period ended December 31, 2010, and a summary of
significant accounting policies and other explanatory information.
Management’s responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these Consolidated Financial Statements in accordance with
Canadian generally accepted accounting principles, and for such internal control as management determines is necessary to enable
the preparation of Consolidated Financial Statements that are free from material misstatement, whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these Consolidated Financial Statements based on our audits. We conducted our audits
in accordance with Canadian generally accepted auditing standards and the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the Consolidated Financial Statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Consolidated Financial
Statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement
of the Consolidated Financial Statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity’s preparation and fair presentation of the Consolidated Financial Statements in order to design
audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of
the Consolidated Financial Statements.
We believe that the audit evidence we have obtained in our audits is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the Consolidated Financial Statements present fairly, in all material respects, the financial position of Sun Life Financial
Inc. and subsidiaries and their segregated funds as of December 31, 2010 and 2009, and their financial performance, their cash flows
and the changes in their segregated funds net assets for each of the three years in the period ended December 31, 2010 in
accordance with Canadian generally accepted accounting principles.
Other Matter
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the
Company’s internal control over financial reporting as of December 31, 2010, based on the criteria established in Internal Control –
Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated
February 16, 2011 expressed an unqualified opinion on the Company’s internal control over financial reporting.
Independent Registered Chartered Accountants
Licensed Public Accountants
February 16, 2011
Toronto, Canada
144 Sun Life Financial Inc. Annual Report 2010 Report of Independent Registered Chartered Accountants