Air Canada 2008 Annual Report Download - page 86

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2008 Air Canada Annual Report
86
INDEPENDENT AUDITORS’ REPORT
TO THE SHAREHOLDERS OF AIR CANADA
We have audited the consolidated statements of financial position of Air Canada as at December 31, 2008 and December
31, 2007 and the consolidated statements of operations, changes in shareholders’ equity, comprehensive income (loss) and
cash flows for the years then ended. These consolidated financial statements are the responsibility of the Corporation’s
management. 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. Those standards require
that we plan and perform an audit to obtain reasonable assurance 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 principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation.
In our opinion, these consolidated financial statements present fairly, in all material respects, the consolidated financial
position of the Corporation as at December 31, 2008 and December 31, 2007 and the results of its operations and its cash
flows for the years then ended in accordance with Canadian generally accepted accounting principles.
1
Chartered Accountants
Montreal, Quebec
February 12, 2009
1 Chartered accountant auditor permit No. 9986
“PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP/s .r.l./s.e.n.c.r.l., an Ontario limited liability partnership, or,
as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which
is a separate and independent legal entity.