Tucows 2014 Annual Report Download - page 147
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Report of the Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of Tucows Inc.
We have audited the accompanying consolidated balance sheets of Tucows Inc. as of December 31, 2014
and 2013, and the related consolidated statements of comprehensive income, stockholders’ equity, and cash flows for
each of the years in the three-year period ended December 31, 2014. These consolidated financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects,
the financial position of Tucows Inc. as of December 31, 2014 and 2013, and the results of its operations and its cash
flows for each of the years in the three-year period ended December 31, 2014 in conformity with U.S. generally
accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), Tucows Inc.’s internal control over financial reporting as of December 31, 2014, based on criteria
established in Internal Control – Integrated Framework (1992) issued by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO), and our report dated March 11, 2015 expressed an adverse opinion on the
effectiveness of the Company’s internal control over financial reporting.
/s/ KPMG LLP
Chartered Professional Accountants, Licensed Public
Accountants
Toronto, Canada
March 11, 2015
F-3
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