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Management Discussion and Analysis is consistent with the data that is contained in the consolidated financial
statements. The consolidated financial statements, where necessary, include amounts which are based on the
best estimates and judgment of management.
In order to discharge management’s responsibility for the integrity of the financial statements, the Company
maintains a system of internal accounting controls. These controls are designed to provide reasonable
assurance that the Company’s assets are safeguarded, transactions are executed and re corded in accordance
with management’s authorization, proper records are maintained and relevant and reliable financial
information is produced. These controls include maintaining quality standards in hiring and training of
employees, policies and procedures manuals, a corporate code of conduct and ensuring that there is proper
accountability for performance within appropriate and well-defined areas of responsibility. The system of
internal controls is further supported by a compliance function, which is designed to ensure that we and our
employees comply with securities legislation and conflict of interest rules.
The Board of Directors is responsible for overseeing management’s performance of its responsibilities for
financial reporting and internal control. The Audit Committee, which is composed of non-executive directors,
meets with management as well as the external auditors to ensure that management is properly fulfilling its
financial reporting responsibilities to the Directors who approve the consolidated financial statements. The
external auditors have full and unrestricted access to the Audit Committee to discuss the scope of their audits,
the adequacy of the system of internal controls and review financial reporting issues.
The consolidated financial statements have been audited by KPMG LLP, the independent registered public
accounting firm, in accordance with Canadian generally accepted auditing...
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- Spring '14