KPMG LLP
618 Greenwood Centre
3200 Deziel Drive
Windsor ON N8W 5K8
Canada
Telephone (519) 251-3500
Fax (519) 251-3530 

INDEPENDENT AUDITORS' REPORT 

To the Administrator of the Contributory Pension Plan Fund for Employees of Transit Windsor 

Opinion

We have audited the fund financial statements of the Contributory Pension Plan Fund For Employees of Transit Windsor (the Plan), which comprise: 

• the statement of net assets as at December 31, 2019
  
  
• the statement of changes in net assets available for benefits 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 net assets available for benefits of the Plan as at December 31, 2019, and its changes in net assets available for benefits for the year then ended in accordance with the financial reporting provisions prescribed by the Federal Pension Benefits Standards Act. 

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 Plan in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada and we have fulfilled our other responsibilities in accordance with these requirements. 

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter— Financial Reporting Framework

We draw attention to Note 2 in the financial statements, which describes the applicable financial reporting framework and the purpose of the financial statements.

As a result, the financial statements may not be suitable for another purpose.