Air Canada 2009 Annual Report Download - page 85

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85
AUDITORS’ REPORT
TO THE SHAREHOLDERS OF AIR CANADA
We have audited the consolidated statements of fi nancial position of Air Canada as at December 31, 2009 and
December 31, 2008 and the consolidated statements of operations, changes in shareholders’ equity, comprehensive
income (loss) and cash fl ows for the years then ended. These consolidated fi nancial statements are the responsibility of the
Corporation’s management. Our responsibility is to express an opinion on these consolidated fi nancial 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 fi nancial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
fi nancial statements. An audit also includes assessing the accounting principles used and signifi cant estimates made by
management, as well as evaluating the overall fi nancial statement presentation.
In our opinion, these consolidated fi nancial statements present fairly, in all material respects, the consolidated fi nancial
position of the Corporation as at December 31, 2009 and December 31, 2008 and the results of its operations and its cash
fl ows for the years then ended in accordance with Canadian generally accepted accounting principles.
1
Chartered Accountants
Montreal, Quebec
February 9, 2010
1 Chartered accountant auditor permit No. 18144
“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 fi rms of the network, each of which
is a separate and independent legal entity.