Westjet 2005 Annual Report Download - page 41

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2005 WESTJET ANNUAL REPORT
39
AUDITORS’ REPORT TO
THE SHAREHOLDERS
We have audited the consolidated balance sheets of
WestJet Airlines Ltd. as at December 31, 2005 and 2004
and the consolidated statements of earnings (loss) 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, 2005 and 2004
and the results of its operations and its cash flows for the
years then ended in accordance with Canadian generally
accepted accounting principles.
Chartered Accountants
Calgary, Canada
February 7, 2006