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Project Dollarama

We have identified significant items and estimates

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We have identified significant items and estimates, and plan to perform testing, as follows: SIGNIFICANT CONSOLIDATED FINANCIAL STATEMENT ITEM/ MANAGEMENT ESTIMATE TESTS TO PERFORM Cash and cash equivalents To tie in to all Canadian and U.S. financial institutions confirmations Accounts receivable To trace to verify the calculations of the sales tax report and to ensure collectability. Merchandise inventory To obtain proof of ownership and existence by attending the inventory count Accounts payable and accrued liabilities To tie to confirmations. To determine completeness and accuracy by performing cut-off testing. Long-term debt payable To tie to confirmation Other liabilities To tie to confirmation Share capital To tie to confirmation - maybe more shares are expected to issue Consolidation spreadsheet We will verify the calculation of the schedules that are going to be sent to us from the U.S. and other cities in Quebec and tie to the working trial balance of the individual companies. Ensure accuracy on the foreign exchange translation. Ensure completeness of all the required elimination entries Expenses To vouch to sources document to ensure occurrence and accuracy. Materiality, determined according to our professional judgment, will be used to assess the significance of identified errors or omissions, and to determine the level of audit testing carried out. Specifically, a misstatement or the aggregate of all misstatements in consolidated financial statements is considered to be material, if it is probable that the decision of the party relying on the consolidated financial statements, who has reasonable understanding of business and economic activities, will be changed or influenced by such a misstatement or the aggregate of all misstatements. We have calculated and propose to use $80,000 as materiality for audit planning purposes . Unless we obtain evidence to the contrary, significant differences not adjusted in the prior year and not recorded in the current year will result in an ending equity understatement of $Nil. "We are - the relationship you can count on" - Chiu & Weisserman, LLP
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Page 4 April 11, 2012 Dollarama Inc. To fulfil our commitment to provide you with the highest level of professional service, we will: 3. 1 Inform you of any new or proposed International Financial Reporting Standards accounting pronouncements relevant to your financial reporting, so that we can plan for their effect and assist in their implementation. 3. 2 Communicate relevant matters to the Audit Committee, including our Audit Service Plan and Audit Findings. 3. 3 Provide ongoing business, taxation, and accounting and financial reporting advice, and assist management as requested, when transactions or issues arise. 3. 4
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We have identified significant items and estimates and plan...

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