Cogeco 2003 Annual Report Download - page 26

24 Cogeco Cable Inc. 2003
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 prepared in accordance with Canadian
generally accepted accounting principles and have been approved 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 responsible 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.
Signed Louis Audet Signed Pierre Gagné
Louis Audet Pierre Gagné
President and Chief Executive Officer Vice-President,
Finance and Chief Financial Officer
To the Shareholders of Cogeco Cable Inc.
We have audited the consolidated balance sheets of Cogeco Cable Inc. as at August 31, 2003 and 2002 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 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 August 31, 2003 and 2002 and the results of its operations and its cash flows for the years then ended
in accordance with Canadian generally accepted accounting principles.
Signed Deloitte & Touche LLP
Chartered accountants
Montreal, October 1, 2003
Auditors’ Report