Rogers 2006 Annual Report Download - page 79

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75
RO GER S CO MMU NIC AT ION S IN C . 20 0 6 ANN UA L RE POR T
MANAGEMENT’S RESPONSIBILITY
FOR FINANCIAL REPORTING
DECEMBE R 31, 20 0 6
The accompanying consolidated financial statements of Rogers
Communications Inc. and its subsidiaries and all the information in
Management’s Discussion and Analysis are the responsibility of man-
agement and have been approved by the Board of Directors.
The financial statements have been prepared by management in
accordance with Canadian generally accepted accounting principles.
The financial statements include certain amounts that are based on
the best estimates and judgments of management and in their opinion
present fairly, in all material respects, Rogers Communications lnc.’s
financial position, results of operations and cash flows. Management
has prepared the financial information presented elsewhere in
Management’s Discussion and Analysis and has ensured that it is
consistent with the financial statements.
Management of Rogers Communications Inc., in furtherance of the
integrity of the financial statements, has developed and maintains
a system of internal controls, which is supported by the internal
audit function. Management believes the internal controls provide
reasonable assurance that transactions are properly authorized and
recorded, financial records are reliable and form a proper basis for the
preparation of financial statements and that Rogers Communications
lnc.’s assets are properly accounted for and safeguarded. The internal
control processes include management’s communication to employ-
ees of policies that govern ethical business conduct.
The Board of Directors is responsible for overseeing management’s
responsibility for financial reporting and is ultimately responsible for
reviewing and approving the financial statements. The Board carries
out this responsibility through its Audit Committee.
The Audit Committee meets periodically with management, as well
as the internal and external auditors, to discuss internal controls
over the financial reporting process, auditing matters and financial
reporting issues; to satisfy itself that each party is properly discharg-
ing its responsibilities; and, to review Management’s Discussion and
Analysis, the financial statements and the external auditors’ report.
The Audit Committee reports its findings to the Board for consid-
eration when approving the financial statements for issuance to
the shareholders. The Committee also considers, for review by the
Board and approval by the shareholders, the engagement or re-
appointment of the external auditors.
The financial statements have been audited by KPMG LLP, the
external auditors, in accordance with Canadian generally accepted
auditing standards on behalf of the shareholders. KPMG LLP has full
and free access to the Audit Committee.
March 9, 2007
Edward S. Rogers, O.C. William W. Linton, C.A.
President and Senior Vice President, Finance
Chief Executive Officer and Chief Financial Officer
We have audited the consolidated balance sheets of Rogers
Communications Inc. as at December 31, 2006 and 2005 and the
consolidated statements of income, deficit and cash flows for years
then ended. These financial statements are the responsibility of the
Company’s management. Our responsibility is to express an opinion
on these 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 financial position of the Company
as at December 31, 2006 and 2005 and the results of its operations
and its cash flows for years then ended in accordance with Canadian
generally accepted accounting principles.
Chartered Accountants
Toronto, Canada
March 9, 2007
AUDITORS’ REPORT
TO THE SHAREHOLDERS