Edmonton Regional Airports Authority - Edmonton International Airport

REPORT OF MANAGEMENTThe financial statements of the Edmonton Regional Airports Authority (Edmonton Airports) are theresponsibility of management and have been approved by the Board of Directors. These financialstatements have been prepared by management in accordance with generally accepted accountingprinciples, and disclosure otherwise required by laws, regulations and agreements to which EdmontonAirports is subject. These financial statements also include amounts that are based on estimates andjudgments which reflect currently available information. Edmonton Airports has developed andmaintains accounting procedures and related systems of internal controls that are designed to providereasonable assurance that its assets are safeguarded and that its financial records are reliable.KPMG, an independent firm of chartered accountants, has been appointed by the Board of Directorsas external auditors of Edmonton Airports. The Auditors’ Report to the Board of Directors, whichdescribes the scope of their examination and expresses their opinion, is presented herein.The Board of Directors has appointed an Audit Committee, whose member are not employees ofEdmonton Airports. The Audit Committee meets with management and external auditors periodicallyto review any significant accounting, internal control and auditing matters. They also review andrecommend the annual financial statements of Edmonton Airports to the Board of Directors forapproval.G. Scott Clements R. Cort SmithPresident and Chief Executive OfficerVice President, Finance and Corporate Services2