REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Management’s Responsibility for the Consolidated Financial Statements Auditor’s Responsibility Opinion Other Matter To the Board of Directors and Shareholders of Brookfield Asset Management Inc. We have audited the accompanying consolidated financial statements of Brookfield Asset Management Inc. and subsidiaries  (the “Company”)  which comprise the consolidated balance sheets as at December 31  2013 and December 31  2012  and the  consolidated statements of operations  consolidated statements of comprehensive income  consolidated statements of changes in  equity and consolidated statements of cash flows for the years then ended  and the notes to the consolidated financial statements.  Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with  International Financial Reporting Standards as issued by the International Accounting Standards Board  and for such internal  control as management determines is necessary to enable the preparation of consolidated financial statements that are free from  material misstatement  whether due to fraud or error. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our  audits in accordance with Canadian generally accepted auditing standards and the standards of the Public Company Accounting  Oversight Board (United States). Those standards require that we comply with ethical requirements and 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 consolidated  financial statements. The procedures selected depend on the auditor’s 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. An audit also includes evaluating the appropriateness  of accounting policies used and the reasonableness of 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 in our audits is sufficient and appropriate to provide a basis for our audit  opinion.  In our opinion  the consolidated financial statements present fairly  in all material respects  the financial position of Brookfield  Asset Management Inc. and subsidiaries as at December 31  2013 and December 31  2012  and their financial performance  and their cash flows for the years then ended in accordance with International Financial Reporting Standards as issued by the  International Accounting Standards Board. We have also audited  in accordance with the standards of the Public Company Accounting Oversight Board (United States)   the Company’s internal control over financial reporting as of December 31  2013  based on the criteria established in  Internal  Control – Integrated Framework (1992)  issued by the Committee of Sponsoring Organizations of the Treadway Commission and  our report dated March 28  2014 expressed an unqualified opinion on the Company’s internal control over financial reporting. Toronto  Canada  March 28  2014  Chartered Professional Accountants  Chartered Accountants Licensed Public Accountants 80 BROOKFIELD ASSET MANAGEMENT 