Telus 2011 Annual Report Download - page 107

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TELUS 2011 ANNUAL REPORT . 103
FINANCIAL STATEMENTS & NOTES
REPORT OF MANAGEMENT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING
Management of TELUS Corporation (TELUS) is responsible for
establishing and maintaining adequate internal control over financial
reporting and for its assessment of the effectiveness of internal
control over financial reporting.
TELUS’ Chief Executive Officer (CEO) and Chief Financial Officer
(CFO) have assessed the effectiveness of the Company’s internal
control over financial reporting as of December 31, 2011, in accordance
with the criteria established in Internal Control – Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO). Internal control over financial reporting is a process
designed by, or under the supervision of, the Chief Executive Officer and
the Executive Vice-President and Chief Financial Officer and effected
by the Board of Directors, management and other personnel to provide
reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles.
Due to its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements on a timely basis. Also, projec-
tions of any evaluation of the effectiveness of internal control over
financial
reporting to future periods 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 or procedures may deteriorate.
Based on this assessment, management has determined that the
Company’s internal control over financial reporting is effective as of
December 31, 2011. In connection with this assessment, no material
weaknesses in the Company’s internal control over financial reporting
were identified by management as of December 31, 2011.
Deloitte & Touche LLP, the Company’s Independent Registered
Chartered Accountants, audited the Company’s Consolidated financial
statements for the year ended December 31, 2011, and as stated in the
Report of Independent Registered Chartered Accountants, they have
expressed an unqualified opinion on the effectiveness of the Company’s
internal control over financial reporting as of December 31, 2011.
Robert G. McFarlane Darren Entwistle
Executive Vice-President President
and Chief Financial Officer and Chief Executive Officer
February 23, 2012 February 23, 2012