INDEPENDENT AUDITORS’ REPORT
The Board of Directors and Stockholders
Bristol Bay Native Corporation:
We have audited the accompanying consolidated financial statements of Bristol Bay Native Corporation and its subsid-
iaries, which comprise the consolidated balance sheets as of March 31, 2019 and 2018, and the related consolidated
statements of operations, changes in stockholders’ equity, and cash flows for each of the years in the three-year period
ended March 31, 2019, and the related notes to the consolidated financial statements.
MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
Management is responsible for the preparation and fair presentation of these consolidated financial statements in
accordance with U.S. generally accepted accounting principles; this includes the design, implementation, and main-
tenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that
are free from material misstatement, whether due to fraud or error.
AUDITORS’ RESPONSIBILITY
Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted
our audits in accordance with auditing standards generally accepted in the United States of America. Those standards
require that we 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 consoli-
dated financial statements. The procedures selected depend on the auditors’ 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,
but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we
express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant 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 is sufficient and appropriate to provide a basis for our audit opinion.
OPINION
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial
position of Bristol Bay Native Corporation and its subsidiaries as of March 31, 2019 and 2018, and the results of their
operations and their cash flows for each of the years in the three-year period ended March 31, 2019, in accordance
with U.S. generally accepted accounting principles.
Anchorage, Alaska
June 7, 2019
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BBNC FY2019 ANNUAL REPORT