Shaw 2011 Annual Report Download - page 73

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Shaw Communications Inc.
MANAGEMENT’S DISCUSSION AND ANALYSIS
August 31, 2011
As permitted by SEC guidance, management has excluded the Media segment from this
evaluation of the system of internal control over financial reporting. Shaw completed the
purchase of 100% of the Media segment on October 27, 2010. Additional information
regarding this acquisition is included in Note 2 to the consolidated financial statements. The
Media segment had assets and revenues representing approximately 23% and 19%,
respectively, of the related consolidated financial statement amounts as of and for the year
ended August 31, 2011. Further information on the Media segment is included in Note 16 to
the consolidated financial statements. The Media segment will be included in management’s
evaluation of internal controls over financial reporting for the fiscal year ended August 31,
2012.
There were no changes in the Company’s internal controls over financial reporting during the
fiscal year that have materially affected or are reasonably likely to materially affect Shaw’s
internal controls over financial reporting.
The design of any system of controls and procedures is based in part upon certain assumptions
about the likelihood of certain events. There can be no assurance that any design will succeed
in achieving its stated goals under all potential future conditions, regardless of how remote.
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