Shaw 2013 Annual Report Download - page 60

S
h
a
w
Co
mm
u
ni
cat
i
o
n
s
In
c.
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS AND
REP
O
RT
O
N INTERNAL
CO
NTR
O
L
O
VER FINAN
C
IAL REP
O
RTIN
G
November 29, 201
3
M
ANA
G
EMENT’
S
RE
S
P
O
N
S
IBILITY F
O
R FINAN
C
IAL REP
O
RTIN
G
The accom
p
an
y
in
g
consolidated financial statements of Shaw Communications Inc. and all the
i
n
f
ormat
i
on
i
nth
i
s annual re
p
ort are the res
p
ons
i
b
i
l
i
t
y
o
f
mana
g
ement and have been a
pp
rove
d
by the Board of Directors.
The financial statements have been
p
re
p
ared b
y
mana
g
ement in accordance with Internationa
l
Fi
nanc
i
al Re
p
ort
i
n
gS
tandards. When alternat
i
ve account
i
n
g
methods ex
i
st, mana
g
ement has
chosen those it deems most appropriate in the circumstances. Financial statements are not
p
recise since the
y
include certain amounts based on estimates and
j
ud
g
ments. Mana
g
emen
t
has dete
rm
i
n
ed suc
h
a
m
ou
n
ts o
n
a
r
easo
n
ab
l
e basis i
n
o
r
de
r
to e
n
su
r
et
h
at t
h
efi
n
a
n
cial
statements are presented fairly, in all material respects. Management has prepared the
f
inancial information
p
resented elsewhere in the annual re
p
ort and has ensured that it i
s
co
n
siste
n
t
w
it
h
t
h
efi
n
a
n
cia
l
state
m
e
n
ts
.
M
anagement has a system of internal controls designed to provide reasonable assurance tha
t
t
he
fi
nanc
i
al statements are accurate and com
p
lete
i
n all mater
i
al res
p
ects. The
i
nternal control
system
i
ncludes an
i
nternal aud
i
t
f
unct
i
on and an establ
i
shed bus
i
ness conduct pol
i
cy tha
t
applies to all employees. Management believes that the systems provide reasonable assurance
t
hat transact
i
ons are
p
ro
p
erl
y
author
i
zed and recorded,
fi
nanc
i
al
i
n
f
ormat
i
on
i
s relevant, rel
i
abl
e
and accurate and that the
C
ompany’s assets are appropr
i
ately accounted
f
or and adequately
safeguarded
.
The Board o
f
D
i
rectors
i
s res
p
ons
i
ble
f
or ensur
i
n
g
mana
g
ement
f
ul
fi
ls
i
ts res
p
ons
i
b
i
l
i
t
i
es
f
o
r
f
inancial reporting and is ultimately responsible for reviewing and approving the financial
statements. The Board carries out this res
p
onsibilit
y
throu
g
h its Audit Committee
.
The Aud
i
t
C
omm
i
ttee
i
sa
pp
o
i
nted b
y
the Board and
i
ts d
i
rectors are unrelated and
independent. The Committee meets periodically with management, as well as the external
auditors, to discuss internal controls over the financial re
p
ortin
gp
rocess, auditin
g
matters an
d
fi
nanc
i
al re
p
ort
i
n
gi
ssues; to sat
i
s
fy i
tsel
f
that each
p
art
yi
s
p
ro
p
erl
y
d
i
schar
gi
n
gi
ts
responsibilities; and, to review the annual report, the financial statements and the externa
l
auditors’ re
p
ort. The Audit Committee re
p
orts its findin
g
s to the Board for consideration whe
n
a
pp
rov
i
n
g
the
fi
nanc
i
al statements
f
or
i
ssuance to the shareholders. The
C
omm
i
ttee als
o
considers, for review by the Board and approval by the shareholders, the engagement or re-
a
pp
ointment of the external auditors.
The
fi
nanc
i
al statements have been aud
i
ted by Ernst
&
Young LLP, the external aud
i
tors,
i
n
accordance with Canadian generally accepted auditing standards on behalf of the shareholders.
E
rnst
&
Youn
g
LLP has
f
ull and
f
ree access to the Aud
i
t
C
omm
i
ttee.
M
ANA
G
EMENT’
S
REP
O
RT
O
N INTERNAL
CO
NTR
O
L
O
VER FINAN
C
IAL REP
O
RTIN
G
M
anagement is responsible for establishing and maintaining an adequate system of internal
control over financial re
p
ortin
g
. Internal control over financial re
p
ortin
g
is a
p
rocess desi
g
ned t
o
p
rov
i
de reasonable assurance re
g
ard
i
n
g
the rel
i
ab
i
l
i
t
y
o
ffi
nanc
i
al re
p
ort
i
n
g
and the
p
re
p
arat
i
o
n
o
f the financial statements for external purposes in accordance with generally accepte
d
accountin
gp
rinci
p
les.
D
ue to
i
ts
i
nherent l
i
m
i
tat
i
ons,
i
nternal control over
fi
nanc
i
al report
i
ng may not prevent o
r
d
etect misstatements on a timely basis. Also, projections of any of the effectiveness of interna
l
56