Westjet 2010 Annual Report Download - page 62

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60 WestJet 2010 Annual Report
INDEPENDENT
AUDITOR’S REPORT
To the Shareholders
We have audited the accompanying consolidated financial
statements of WestJet Airlines Ltd. (the Company), which
comprise the balance sheets as at December 31, 2010 and 2009,
and the consolidated statements of earnings, shareholders’
equity, comprehensive income and cash flows for the years then
ended, and a summary of significant accounting policies and
other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair
presentation of these consolidated financial statements in
accordance with Canadian generally accepted accounting
principles, and for such internal control as management
determines is necessary to enable the preparation of financial
statements that are free from material misstatement, whether
due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these consolidated
financial statements based on our audit. We conducted our
audit in accordance with Canadian generally accepted auditing
standards. Those standards require that we comply with ethical
requirements and plan and perform an audit to obtain reasonable
assurance about whether the consolidated financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence
about the amounts and disclosures in the financial statements.
The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement
of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control
relevant to the Company’s preparation and fair presentation of
the financial statements in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal
control. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of accounting
estimates made by management, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the consolidated financial statements present
fairly, in all material respects, the financial position of
WestJet Airlines Ltd. as at December 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.
Chartered Accountants
Calgary, Canada
February 8, 2011