We have audited the annexed Balance Sheet of the "PAKISTAN VILLAGE DEVELOPMENT PROGRAM"
(PVDP)as of June 30, 2006 and the related statement of financial Activities together with the notes
forming part thereof, for (hear.in.ofter.referred to as financial statements for the year then ended.
It is the responsibility of the Board of Governors to establish and maintain a system of internal control,
and prepare and present the financial statements in conformity with the approved accounting
standards as applicable in Pakistan. Our responsibility is to express an opinion on these financial
statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. 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 policies used and significant estimates made by
management, as well as evaluating the overall presentation of the financial statements. We believe
that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements Present fairly in all material respects the financial position of
the"PAKISTAN VILLAGE DEVELOPMENT PROGRAM" (PVDP) as of June 30, 2006 and of its SURPLUS for the
year than ended in accordance the with approved Accounting Standards as applicable in
