Cogeco 2010 Annual Report Download - page 45

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44 COGECO CABLE INC. 2010 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 and internal 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
President and Chief Executive Officer
Pierre Gagné
Senior Vice-President and Chief Financial Officer
Montréal, October 26, 2010
Auditors’ report
To the shareholders of Cogeco Cable Inc.
We have audited the consolidated balance sheets of Cogeco Cable Inc. as at August 31, 2010 and 2009 and the consolidated statements of
income (loss), comprehensive income (loss), retained earnings (deficit) 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, 2010 and 2009 and the results of its operations and its cash flows for the years then ended in accordance with Canadian Generally
Accepted Accounting Principles.
Montréal, October 26, 2010
____________________
1
Chartered accountant auditor permit No. 10800