Cogeco 2005 Annual Report Download - page 32

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30
Cogeco Cable Inc. 2005
Related to the 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 maintains
internal accounting controls to ensure 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.
Louis Audet Pierre Gagné
President and Chief Executive Officer Vice President, Finance and Chief Financial Officer
MANAGEMENT’S RESPONSIBILITY
To the Shareholders of Cogeco Cable Inc.
We have audited the consolidated balance sheets of Cogeco Cable Inc. as at August 31, 2005 and 2004 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, 2005 and 2004 and the results of its operations and its cash flow for the years then ended in accordance with Canadian generally
accepted accounting principles.
Chartered Accountants
Montréal, October 7, 2005
AUDITORS’ REPORT