Westjet 2006 Annual Report Download - page 38

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36 2006 | WestJet Annual Report
AUDITORS’ REPORT TO THE SHAREHOLDERS
We have audited the consolidated balance sheets of WestJet Airlines Ltd. as at December 31, 2006 and 2005 and
the consolidated statements of earnings and 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 December 31, 2006 and 2005 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
Calgary, Canada
February 12, 2007