Annual Report 2010/11

Management’s Responsibility forthe Consolidated Financial StatementsThe accompanying financial statements of Grant MacEwan University are the responsibility ofmanagement and have been approved by the Board of Governors. The consolidated financialstatements have been prepared by management in conformity with generally accepted accountingprinciples described in Note 2.To discharge its responsibility for the integrity and objectivity of financial reporting, managementmaintains a system of internal accounting controls comprising written policies, guidelines andprocedures, and a formal authorization structure. This system is designed to provide managementwith reasonable assurance that transactions are properly authorized, reliable financial records aremaintained, and assets are adequately accounted for and safeguarded.The Board of Governors carries out its fiduciary responsibility for financial management of theUniversity through its Audit and Finance Committee. The Audit and Finance Committee meets withmanagement and the external auditor to discuss the results of audit examinations and financialreporting matters. The external auditor has full access to the Audit and Finance Committee, withand without the presence of management.The Auditor General of the Province of Alberta, the University’s external auditor, appointed underthe Auditor General Act, performs an annual independent audit of the consolidated financialstatements.On behalf of management,Original signed by David W. AtkinsonDavid W. Atkinson, PhDPresidentOriginal signed by Brent QuintonBrent Quinton, CA, MBAvice President, University Servicesconsolidated financial statements 2010/2011 37