Cogeco 2002 Annual Report Download - page 23

Management’s Responsibility
Related to Consolidated Financial Statements
The consolidated financial statements of Cogeco Cable Inc. and the financial information contained in this
annual report are the responsibility of management. The financial statements include amounts determined by
management based on estimates which in their opinion are reasonable and fair. The consolidated financial statements
have been pre p a red in accordance with Canadian generally accepted accounting principles and have been
a p p roved by the Board of Directors. Operating and financial information used elsewhere in the annual report is
consistent with that in the financial statements.
In fulfilling its responsibilities, management of Cogeco Cable Inc. and its subsidiaries have developed and
continue to improve administrative and accounting systems in order to provide reasonable assurance that assets
are safeguarded against loss or unauthorized use and that financial records are reliable for preparing the financial
statements. The Board of Directors carries out its responsibility for the financial statements in this
annual report principally through its Audit Committee, which reviews the annual consolidated financial
statements of the Corporation and recommends their approval to the Board of Directors. The Committee
periodically meets with management and the external auditors to discuss the results of the external and
internal examinations and matters having an impact on financial information.
The external auditors appointed by the shareholders, Deloitte & Touche LLP, Chartered Accountants, are re s p o n s i b l e
for making an independent examination of the consolidated financial statements in accordance with Canadian
generally accepted auditing standards and to issue an opinion on the statements. The external auditors have free
access to the Audit Committee, with or without the presence of management. Their report follows.
Louis Audet Pierre Gagné
President and Chief Executive Officer Vi c e - P re s i d e n t ,
Finance and Chief Financial Off i c e r
Auditors’ Report
To the Shareholders of Cogeco Cable Inc.
We have audited the consolidated balance sheets of Cogeco Cable Inc. as at August 31, 2002 and 2001 and the
consolidated statements of income, retained earnings and cash flow 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
s t a n d a rds re q u i r e that we plan and perf o rm 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 August 31, 2002 and 2001 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
Montreal, October 4, 2002
22 Cogeco Cable Inc.