Cogeco 2008 Annual Report Download - page 41

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40 COGECO CABLE INC. 2008 Consolidated Financial Statements
MANAGEMENT’S RESPONSIBILITY
RELATED TO THE CONSOLIDATED FINANCIAL STATEMENTS
The consolidated financial statements of Cogeco Cable Inc. (the “Corporation”) and the financial information contained in this annual
report are the responsibility of management. The consolidated 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 of the consolidated financial statements.
In fulfilling 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 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
Montreal, October 28, 2008
AUDITORS’ REPORT
TO THE SHAREHOLDERS OF COGECO CABLE INC.
We have audited the consolidated balance sheets of Cogeco Cable Inc. as at August 31, 2008 and 2007 and the consolidated
statements of income, comprehensive income, 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 August 31, 2008 and 2007 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 28, 2008