We have audited the accompanying financial statements of IBON International Foundation Inc.’s (a nonstock, nonprofit organization) CPDE Project: “Civil Society Continuing Campaign for Effective Development” which comprise the statements of assets, liabilities and fund balance as at December 31, 2015 and 2014, and the statements of revenues and expenses, statements of changes in fund balance and statements of cash flows for the years then ended and a summary of significant accounting policies and other explanatory information.