Statement of Financial Condition
as of October 31, 2016
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Management and Stockholder of
National Bank of Canada Financial Inc.
We have audited the accompanying statement of financial condition of National Bank of Canada Financial
Inc. (the "Company") as of October 31, 2016. This financial statement is the responsibility of the
Company's management. Our responsibility is to express an opinion on this financial statement based on
our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statement is free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement.
An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.
In our opinion, the statement of financial condition referred to above presents fairly, in all material
respects, the financial position of National Bank of Canada Financial Inc. as of October 31, 2016, in
conformity with accounting principles generally accepted in the United States of America.
/s/ EisnerAmper LLP
New York, New York
December 21, 2016
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