The consolidated financial statements of the Hospitals of Ontario Pension Plan (HOOPP) have been prepared by management and approved by the Board of Trustees. Management is responsible for the contents of the consolidated financial statements and other sections of the annual report.

HOOPP maintains appropriate processes to ensure the integrity and fairness of the data presented and that relevant and reliable information is produced. The consolidated financial statements have been prepared in accordance with Canadian generally accepted accounting principles and comply with the financial reporting requirements of the Pension Benefits Act of Ontario. These consolidated financial statements include certain amounts that are based on management’s estimates and judgments. The significant accounting policies used and which management believes are appropriate for HOOPP are described in note 1 to the consolidated financial statements. The financial information presented throughout the annual report is consistent with that found in the consolidated financial statements.

Management’s systems of internal control and procedures are maintained to provide reasonable assurance that transactions are authorized, assets are safeguarded and proper records are maintained. These controls include an organizational structure that provides a well-defined division of responsibilities, accountability for performance and the timely communication of policies and guidelines throughout the organization.

The Board of Trustees is ultimately responsible for approving the consolidated financial statements and overseeing management’s performance of its financial reporting responsibilities. Reporting to the Board of Trustees, the Audit and Finance Committee assists the Board in performing its responsibilities regarding the organization’s audit, financial information, and internal controls. The Audit and Finance Committee reviews and recommends approval of the consolidated financial statements to the Board.

PricewaterhouseCoopers LLP was appointed the independent external auditors by the Board upon the recommendation of the Audit and Finance Committee. The auditor has conducted an independent examination of the consolidated financial statements in accordance with Canadian generally accepted auditing standards, performing such tests and procedures as they consider necessary to express an opinion in their Auditors’ Report. The external auditor has full and unrestricted access to management and the Audit and Finance Committee to discuss any findings arising from the audit in relation to the integrity of the Plan’s financial reporting and the adequacy of internal control systems.

JOHN A. CROCKER		DAVID G. HAYTER, CMA
President & Chief Executive Officer		Senior Vice-President, Finance and Chief Financial Officer

April 2, 2008