Tucows 2013 Annual Report Download - page 76

dispositions of our assets;
•
Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements
in accordance with accounting principles generally accepted in the United States of America;
•
Provide reasonable assurance that our receipts and expenditures are being made only in accordance with authorization
of our management and directors; and
•
Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition
of our assets that could have a material effect on the financial statements.
Because of its inherent limitations, such as resource constraints, human error, lack of knowledge or awareness and
the possibility of intentional circumvention of these controls, internal control over financial reporting may not prevent or
detect misstatements. Furthermore, the design of any control system is based, in part, upon assumptions about the likelihood
of future events, for which assumptions may ultimately prove to be incorrect. Therefore, even those systems determined to be
effective can provide only reasonable assurance with respect to financial statement preparation and presentation.
Our management assessed the effectiveness of its internal control over financial reporting as of December 31, 2013.
In making this assessment, management used the criteria established in Internal Control—Integrated Framework (1992)
issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on its assessment,
management has concluded that the Company’s internal control over financial reporting was effective as of December 31,
2013.
This Annual Report on Form 10-K does not include an attestation report of the Company’s registered public
accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the
Company’s registered public accounting firm pursuant to rules of the SEC that permit the Company to provide only
management’s report in this Annual Report on Form 10-K.
/s/ ELLIOT NOSS
/s/ MICHAEL COOPERMAN
Elliot Noss
Michael Cooperman
President and Chief Executive Officer
Chief Financial Officer
(Principal Executive Officer)
(Principal Financial Officer)
March 18, 2014
March 18, 2014
F-2
Report of the Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of Tucows Inc.:
We have audited the accompanying consolidated balance sheets of Tucows Inc. as of December 31, 2013 and
December 31, 2012, and the related consolidated statements of comprehensive income, stockholders’ equity, and cash flows
for each of the years in the three-year period ended December 31, 2013. These consolidated financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial
statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the
financial position of Tucows Inc. as of December 31, 2013 and December 31, 2012, and the results of its operations and its
cash flows for each of the years in the three-year period ended December 31, 2013, in conformity with U. S. generally
accepted accounting principles.
/s/ KPMG LLP
Chartered Professional Accountants, Licensed Public Accountants