Rogers 2013 Annual Report Download - page 92

MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL REPORTING
December 31, 2013
The accompanying consolidated financial statements of Rogers
Communications Inc. and its subsidiaries and all the information in
Management’s Discussion and Analysis (MD&A) are the responsibility of
management and have been approved by the Board of Directors.
Management has prepared the consolidated financial statements in
accordance with International Financial Reporting Standards as issued
by the International Accounting Standards Board. The consolidated
financial statements include certain amounts that are based on
management’s best estimates and judgments 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 MD&A
and has ensured that it is consistent with the consolidated financial
statements.
Management has developed and maintains a system of internal controls
that further enhances the integrity of the consolidated financial
statements. The system of internal controls is supported by the internal
audit function and includes management communication to employees
about its policies on ethical business conduct.
Management believes these 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
• properly account for and safeguard the assets of Rogers
Communications Inc. and its subsidiaries.
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 regularly 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 MD&A, the consolidated financial
statements and the external auditors’ report. The Audit Committee
reports its findings to the Board of Directors for its consideration when
approving the consolidated financial statements for issuance to the
shareholders. The Audit Committee also considers the engagement or
re-appointment of the external auditors before submitting it to the
board for review and for shareholder approval.
The consolidated financial statements have been audited by KPMG LLP,
the external auditors, in accordance with Canadian generally accepted
auditing standards and the standards of the Public Company
Accounting Oversight Board (United States) on behalf of the
shareholders. KPMG LLP has full and free access to the Audit
Committee.
February 11, 2014
Guy Laurence Anthony Staffieri, FCPA, FCA
President and
Chief Executive Officer
Executive Vice President and
Chief Financial Officer
INDEPENDENT AUDITORS’ REPORT OF REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders of Rogers Communications Inc.:
We have audited the accompanying consolidated financial statements
of Rogers Communications Inc., which comprise the consolidated
statements of financial position as at December 31, 2013 and 2012, the
consolidated statements of income, comprehensive income, changes in
shareholders’ equity and cash flows for the years ended December 31,
2013 and 2012, and notes, comprising a summary of significant
accounting policies and other explanatory information.
Management’s Responsibility for 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.
Auditors’ Responsibility
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 our 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, we consider 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.
Opinion
In our opinion, the consolidated financial statements present fairly, in all
material respects, the consolidated financial position of Rogers
Communications Inc. as at December 31, 2013 and 2012, and its
consolidated financial performance and its consolidated cash flows for
the years ended December 31, 2013 and 2012 in accordance with
International Financial Reporting Standards as issued by the
International Accounting Standards Board.
Chartered Professional Accountants, Licensed Public Accountants
February 11, 2014
Toronto, Canada
88 ROGERS COMMUNICATIONS INC. 2013 ANNUAL REPORT