2001 Annual Report - Edmonton International Airport

AUDITORS’ REPORT TO THE BOARD OF DIRECTORSWe have audited the statements of financial position of EdmontonRegional Airports Authority as at December 31, 2001 and 2000 and thestatements of operations and equity in capital assets and cash flowsfor the years then ended. These financial statements are theresponsibility of the Authority’s management. Our responsibility is toexpress an opinion on these financial statements based on our audits.We conducted our audits in accordance with Canadian generallyaccepted auditing standards. Those standards require that we plan andperform an audit to obtain reasonable assurance whether the financialstatements are free of material misstatement. An audit includesexamining, on a test basis, evidence supporting the amounts anddisclosures in the financial statements. An audit also includesassessing the accounting principles used and significant estimatesmade by management, as well as evaluating the overall financialstatement presentation.In our opinion, these financial statements present fairly, in all materialrespects, the financial position of the Authority as at December 31,2001 and 2000 and the results of its operations and its cash flows forthe years then ended in accordance with Canadian generally acceptedaccounting principles.Chartered AccountantsEdmonton, CanadaFebruary 22, 200241