HSBC 2013 Annual Report Download - page 57

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HSBC BANK CANADA
Statement of Management’s Responsibility for Financial Information
The presentation and preparation of the annual
consolidated financial statements, Management’s
Discussion and Analysis (‘MD&A’) and all other
information in the Annual Report is the responsibility of
the management of HSBC Bank Canada (‘the bank’). The
consolidated financial statements have been prepared
in accordance with International Financial Reporting
Standards. The consolidated financial statements and
information in the MD&A necessarily include amounts
based on informed judgements and estimates of the
expected effects of current events and transactions with
appropriate consideration to materiality.
In meeting its responsibility for the reliability
of financial information, management relies on
comprehensive internal accounting, operating and
system controls. The bank’s overall controls include:
an organizational structure providing for effective
segregation of responsibilities, delegation of authority
and personal accountability; written communication of
policies and procedures of corporate conduct throughout
the bank, and careful selection and training of personnel;
regular updating and application of written accounting
and administrative policies and procedures necessary to
ensure adequate internal control over transactions, assets
and records; and a continuing program of extensive
internal audit covering all aspects of the bank’s operations.
These controls are designed to provide reasonable
assurance that financial records are reliable for preparing
the consolidated financial statements and maintaining
accountability for assets, that assets are safeguarded
against unauthorized use or disposition and that the bank
is in compliance with all regulatory requirements.
At least once a year, the Office of the Superintendent
of Financial Institutions Canada (‘OSFI’), makes such
examination and enquiry into the affairs of the bank as
deemed necessary to ensure that the provisions of the
Bank Act, having reference to the rights and interests
of the depositors and the creditors of the bank, are
being complied with and that the bank is in a sound
financial condition.
The bank’s Board of Directors oversees management’s
responsibilities for financial reporting through the Audit
and Risk Committee, which is composed of directors
who are not officers or employees of the bank. The Audit
and Risk Committee reviews the bank’s interim and
annual consolidated financial statements and MD&A.
The committee approves the interim statements and
recommends the Annual statements for approval by the
Board of Directors. Other key responsibilities of the
Audit and Risk Committee include monitoring the bank’s
system of internal control, monitoring its compliance
with legal and regulatory requirements, considering the
appointment of the Shareholders’ auditors and reviewing
the qualifications, independence and performance of
Shareholders’ auditors and internal auditors.
As at 31 December 2013, we, the bank’s Chief
Executive Officer and Chief Financial Officer, have
certified the effectiveness of our internal control over
financial reporting as defined by the Canadian Securities
Administrators under National Instrument 52-109
(Certification of Disclosure in Issuer’s Annual and
Interim Filings).
The Shareholders’ auditors, the bank’s Chief Auditor
and OSFI have full and free access to the Board of
Directors and its committees to discuss audit, financial
reporting and related matters.
Paulo Maia
President and Chief Executive Officer
Jacques Fleurant
Chief Financial Officer
Vancouver, Canada
21 February 2014