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To the Members of Tourism Saskatchewan: Management is responsible for the preparation and presentation of the accompanying financial statements, including responsibility for significant accounting judgments and estimates in accordance with Canadian generally accepted accounting principles and ensuring that all information in the annual report is consistent with the statements. This responsibility includes selecting appropriate accounting principles and methods, and making decisions affecting the measurement of transactions in which objective judgment is required. In discharging its responsibilities for the integrity and fairness of the financial statements, management designs and maintains the necessary accounting systems and related internal controls to provide reasonable assurance that transactions are authorized, assets are safeguarded, and financial records are properly maintained to provide reliable information for the preparation of financial statements. The Board of Directors and Audit Committee are composed entirely of Directors who are neither management nor employees of the Authority. The Board is responsible for overseeing management in the performance of its financial reporting responsibilities, and for recommending approval to the Members of the financial information included in the annual report. The Audit Committee has the responsibility of meeting with management and external auditors to discuss the internal controls over the financial reporting process, auditing matters, and financial reporting issues. The Audit Committee is also responsible for recommending the appointment of the Authority's external auditors. MNP LLP, an independent firm of Chartered Accountants, is appointed by the Members to audit the financial statements and report directly to them; their report follows. The external auditors have full and free access to, and meet periodically and separately with, both the Audit Committee and management to discuss their audit findings. November 8, 2011 42 Chief Executive Officer
To the Members of Tourism Authority o/a Tourism Saskatchewan: We have audited the accompanying financial statements of Tourism Saskatchewan, which comprise the statement of financial position as at September 30, 2011 and the statements of operations, changes in net assets and cash flows for the year 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 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. Auditors' Responsibility Our responsibility is to express an opinion on these 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 the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. 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 financial statements present fairly, in all material respects, the financial position of Tourism Saskatchewan as at September 30, 2011 and the results of its operations and its cash flows for the year then ended in accordance with Canadian generally accepted accounting principles. Regina, Saskatchewan November 8, 2011 Chartered Accountants An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ 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 entity’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 43
Page 2 and 3: illion in travel expenditures in 20
Page 4 and 5: Saskatchewan’s tourism sector exp
Page 6 and 7: The tourism sector in Saskatchewan
Page 8 and 9: Membership Over 1,700 Marketing Dir
Page 10 and 11: Tourism Saskatchewan is governed by
Page 12 and 13: This past year has been one of cont
Page 14 and 15: 12 The past year has been a tumultu
Page 16 and 17: Instilling a “Culture of Quality
Page 18 and 19: The 2010-2011 fiscal year was a per
Page 20 and 21: Tourism Saskatchewan underwent some
Page 22 and 23: One of Tourism Saskatchewan’s End
Page 24 and 25: events. Overall, close to 3 million
Page 26 and 27: The Ministry of Government Services
Page 30 and 31: announcement of major highway impro
Page 32 and 33: certification in tourism profession
Page 34 and 35: 32 One of Tourism Saskatchewan’s
Page 36 and 37: 34 Cultural Partnership In 2010, To
Page 40 and 41: Tourism Saskatchewan has introduced
Page 42 and 43: Several Task Team members were a pa
Page 46 and 47: AS AT SEPTEMBER 30, 2011 2011 2010
Page 48 and 49: YEAR ENDED SEPTEMBER 30, 2011 Inter
Page 50 and 51: YEAR ENDED SEPTEMBER 30, 2011 1. DE
Page 52 and 53: YEAR ENDED SEPTEMBER 30, 2011 50 3.
Page 54 and 55: YEAR ENDED SEPTEMBER 30, 2011 c) Ed
Page 56 and 57: YEAR ENDED SEPTEMBER 30, 2011 ADMIN
Page 58 and 59: YEAR ENDED SEPTEMBER 30, 2011 MEMBE
Page 60: Photography by Davin Andrie, Paul A

Tourism Saskatchewan - IndustryMatters.com

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