Rogers 2009 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 2009 Rogers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

82 ROGERS COMMUNICATIONS INC. 2009 ANNUAL REPORT
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL REPORTING
DECEMBER 31, 2009
Nadir H. Mohamed, FCA
President and
Chief Executive Officer
William W. Linton, CA
Executive Vice President,
Finance and
Chief Financial Officer
AUDITORS’ REPORT TO THE SHAREHOLDERS
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
management and have been approved by the Board of Directors.
The consolidated financial statements have been prepared by
management in accordance with Canadian generally accepted
accounting principles. The consolidated 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 consolidated financial statements.
Management of Rogers Communications Inc., in furtherance of the
integrity of the consolidated 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 consolidated
financial statements and that Rogers Communications lnc.’s assets
are properly accounted for and safeguarded. The internal control
processes include management’s communication to employees 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 consolidated 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
discharging its responsibilities; and to review Management’s
Discussion and Analysis, the consolidated financial statements
and the external auditors’ report. The Audit Committee reports
its findings to the Board of Directors for consideration when
approving the consolidated financial statements for issuance to
the shareholders. The Audit Committee also considers, for review
by the Board of Directors and approval by the shareholders, the
engagement or re-appointment of the external auditors.
The consolidated 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.
February 17, 2010
We have audited the consolidated balance sheets of Rogers
Communications Inc. as at December 31, 2009 and 2008 and
the consolidated statements of income, shareholders’ equity,
comprehensive income and cash flows for the 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, 2009 and 2008 and the results of its operations
and its cash flows for the years then ended in accordance with
Canadian generally accepted accounting principles.
Chartered Accountants, Licensed Public Accountants
Toronto, Canada
February 17, 2010