Shaw 2011 Annual Report Download - page 75

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Shaw Communications Inc.
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS AND
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Due to its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements on a timely basis. Also, projections of any of the effectiveness of internal control are
subject to the risk that the controls may become inadequate because of changes in conditions or that
the degree of compliance with the policies and procedures may deteriorate. Therefore, even those
systems determined to be effective can provide only reasonable assurance with respect to the financial
statement preparation and presentation.
Management conducted an evaluation of the effectiveness of the system of internal control over
financial reporting based on the framework in “Internal Control – Integrated Framework” issued by the
Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation,
management concluded that the Company’s system of internal control over financial reporting was
effective as at 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.
[Signed] [Signed]
Brad Shaw Steve Wilson
Chief Executive Officer Senior Vice President and
Chief Financial Officer
71