Westjet 2001 Annual Report Download - page 42

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40
We have audited the consolidated balance sheets of WestJet Airlines Ltd. as at December 31,
2001 and 2000 and the consolidated statements of earnings and retained earnings and cash
flows for the years then ended. These financial statements are the responsibility of the
Corporation’s management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with Canadian generally accepted auditing standards.
Those standards require that we plan and perform an audit to obtain reasonable assurance
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. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement
presentation.
In our opinion, these consolidated financial statements present fairly, in all material respects,
the financial position of the Corporation as at December 31, 2001 and 2000 and the results of
its operations and its cash flows for the years then ended in accordance with Canadian
generally accepted accounting principles.
KPMG LLP
Chartered Accountants
Calgary, Canada
February 19, 2002
AUDITORS' REPORT TO THE SHAREHOLDERS
(signed)