2003 Annual Report - Enerflex

management’s responsibilityfor financial informationTo the Shareholders of Enerflex Systems Ltd. The accompanyingconsolidated financial statements and all information in the AnnualReport have been prepared by management and approved by the Board ofDirectors. The consolidated financial statements have been prepared inaccordance with generally accepted accounting principles in Canada and,where appropriate, reflect management's best estimates and judgements.Management is responsible for the accuracy, integrity and objectivity of theconsolidated financial statements within reasonable limits of materiality and forthe consistency of financial data included in the text of the Annual Report withthat in the consolidated financial statements.To assist management in the discharge of these responsibilities, the Companymaintains a system of internal controls designed to provide reasonableassurance that accounting records are reliable and assets are safeguarded.The Audit Committee is appointed by the Board of Directors. The AuditCommittee meets with management, as well as with the external auditors tosatisfy itself that management is properly discharging its financial reportingresponsibilities and to review the consolidated financial statements and theauditors' report. The Audit Committee reports its findings to the Board ofDirectors for consideration in approving the consolidated financial statementsfor presentation to the shareholders. The external auditors have direct accessto the Audit Committee of the Board of Directors.The consolidated financial statements have been audited independently byDeloitte & Touche LLP on behalf of the shareholders, in accordance withgenerally accepted auditing standards. Their report outlines the nature of theiraudits and expresses their opinion on the consolidated financial statements.(signed)P. John AldredChairman, President andChief Executive OfficerFebruary 2, 2004Enerflex 2003 Annual Report53