Telus 2011 Annual Report Download - page 108

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104 . TELUS 2011 ANNUAL REPORT
REPORT OF INDEPENDENT REGISTERED
CHARTERED ACCOUNTANTS
To the Board of Directors and Shareholders of TELUS Corporation
We have audited the accompanying consolidated financial statements of
TELUS Corporation and subsidiaries (the Company), which comprise the
consolidated statements of financial position as at December 31, 2011,
December 31, 2010, and January 1, 2010, and the consolidated state-
ments of income and other comprehensive income, changes in owners’
equity and cash flows for the years ended December 31, 2011, and
December 31, 2010, and 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 deter-
mines 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
state ments. The procedures selected depend on the auditor’s judge-
ment, 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, the auditor considers
internal control relevant to the entity’s preparation and fair presentation
of the consoli dated financial statements in order to design audit pro-
cedures 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 manage-
ment, 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 financial position of TELUS Corporation and subsid-
iaries as at December 31, 2011, December 31, 2010, and January 1, 2010,
and their financial performance and their cash flows for each of the years
ended December 31, 2011, and December 31, 2010, in accordance with
International Financial Reporting Standards as issued by the International
Accounting Standards Board.
Other Matter
We have also audited, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), the Company’s
internal control over financial reporting as at December 31, 2011, based
on the criteria established in Internal Control – Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway
Commission and our report dated February 23, 2012, expressed an
unqualified opinion on the Company’s internal control over financial
reporting.
Deloitte & Touche LLP
Independent Registered Chartered Accountants
Vancouver, Canada
February 23, 2012