Cogeco 2007 Annual Report Download - page 44

42 COGECO CABLE INC. 2007 Consolidated Financial Statements
MANAGEMENT’S RESPONSIBILITY
RELATED TO THE CONSOLIDATED FINANCIAL STATEMENTS
The consolidated fi nancial statements of Cogeco Cable Inc. and the fi nancial information contained in this annual report are
the responsibility of management. The fi nancial statements include amounts determined by management based on estimates,
which in their opinion are reasonable and fair. The consolidated fi nancial statements have been prepared in accordance
with Canadian generally accepted accounting principles and have been approved by the Board of Directors. Operating and
fi nancial information used elsewhere in the annual report is consistent with that in the fi nancial statements.
In fulfi lling its responsibilities, management of Cogeco Cable Inc. and its subsidiaries has developed and continues 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 fi nancial records are reliable
for preparing the fi nancial statements. The Board of Directors carries out its responsibility for the fi nancial statements in
this annual report principally through its Audit Committee, which reviews the annual consolidated fi nancial 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
fi nancial information.
The external auditors appointed by the shareholders, Deloitte & Touche LLP, Chartered Accountants, are responsible for
making an independent examination of the consolidated fi nancial 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.
Montreal, October 25, 2007
AUDITORS’ REPORT
TO THE SHAREHOLDERS OF COGECO CABLE INC.
We have audited the consolidated balance sheets of Cogeco Cable Inc. as at August 31, 2007 and 2006 and the consolidated
statements of income, retained earnings and cash fl ow for the years then ended. These fi nancial statements are the
responsibility of the Corporation’s management. Our responsibility is to express an opinion on these fi nancial 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 fi nancial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
fi nancial statements. An audit also includes assessing the accounting principles used and signifi cant estimates made by
management, as well as evaluating the overall fi nancial statement presentation.
In our opinion, these consolidated fi nancial statements present fairly, in all material respects, the fi nancial position of the
Corporation as at August 31, 2007 and 2006 and the results of its operations and its cash fl ow for the years then ended
in accordance with Canadian generally accepted accounting principles.
Montreal, October 25, 2007
PIERRE GAGNÉ
VICE-PRESIDENT, FINANCE AND CHIEF FINANCIAL OFFICER
LOUIS AUDET
PRESIDENT AND CHIEF EXECUTIVE OFFICER
CHARTERED ACCOUNTANTS